The Most Bizarre Investing Strategies – MoneyBuilder – making sense of your finances – Forbes
Necessity is the mother of invention, as they say. In these rather bizarre times, it is now possible to get gold from a vending machine or if you’re feeling a bit more reckless, you could always try one of these strategies, such as renting a cow, selling options on your life insurance or just good old-fashioned star-gazing!
Some people are worth a lot on paper; others quite literally have the bulk of their assets in paper. Kelly Reid is one of the latter—he’s founder and editor-in-chief of Quiet Speculation, a daily publication focused on investment strategies within the Magic: The Gathering trading card game—and estimates that more than half of his personal wealth is tied up in cards he owns. Magic cards fluctuate in value based on their use in tournaments played around the world. The game, created by mathematics professor Richard Garfield and launched in 1993, now boasts 6 million players worldwide according to Wizards of the Coast, Magic’s Hasbro-backed publisher. The most valuable card, Black Lotus, is currently worth $840, up 16% since the start of 2010. The S&P 500, by contrast, is up 12% over the same time period.“As both a collectible and competitive game, Magic: The Gathering has evolved its own primitive stock market,” says Reid. “Individual card prices rise and fall based on competitive play, and online resellers set bid/ask spreads, providing liquidity for traders.”
Strange Random Investment Quote:
You had a lot of novice investors who got into the market looking for easy money, without any regard to the fundamentals. These stocks were running on fumes. (Madoff talking about the Internet bubble) – Bernard Madoff
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Posted on July 2, 2011, in Article and tagged Bernard Madoff, Business, Collectible card game, Forbes, Games, Investment strategy, magic-the-gathering, Richard Garfield, Stock market, Wizards of the Coast. Bookmark the permalink. Leave a comment.