Pejman Ghadimi

Right. Like, so you're buying them, right? Like, and you, you understand they're worth a lot of money, but once you use them, that worth basically disappears. So it's almost like you can't, you, you can buy something. It's arbitrage. You buy cheap, you look, it might go up, you buy it. So. It's different because we talk about the utility of things is just as important as the investment.

Right. Like, so you're buying them, right? Like, and you, you understand they're worth a lot of money, but once you use them, that worth basically disappears. So it's almost like you can't, you, you can buy something. It's arbitrage. You buy cheap, you look, it might go up, you buy it. So. It's different because we talk about the utility of things is just as important as the investment.

So the difference between investing in the stock versus investing in a car is that you want a car. You're going to buy a car anyways. You want a watch on your wrist. You're not forced to. You're going to buy it anyways. So the utility is very, very important.

So the difference between investing in the stock versus investing in a car is that you want a car. You're going to buy a car anyways. You want a watch on your wrist. You're not forced to. You're going to buy it anyways. So the utility is very, very important.

And cards, specifically, don't necessarily have a utility in that manner because you can't, like, throw a Pokemon card at someone for something. Right.

And cards, specifically, don't necessarily have a utility in that manner because you can't, like, throw a Pokemon card at someone for something. Right.

The main thing that's really important about cards is the one piece of it that's become very transactional over the last couple of years is the institution of it, which means that people like you have basically opened shops that enable people to trade these things and have liquidity for them, right? So they can come to you. I'll buy it. Right. You'll put a number on it.

The main thing that's really important about cards is the one piece of it that's become very transactional over the last couple of years is the institution of it, which means that people like you have basically opened shops that enable people to trade these things and have liquidity for them, right? So they can come to you. I'll buy it. Right. You'll put a number on it.

Now, that number might be lower than what the market is because you're like, I'm in the business of making money.

Now, that number might be lower than what the market is because you're like, I'm in the business of making money.

Exactly. And cards have become that because of people like you, because they're becoming more institutionalized where people can trade them. So wine also has its model like that, but it's not as open. And because it's such a scarce amount of people, it doesn't work in what we talk about. So similar to art too.

Exactly. And cards have become that because of people like you, because they're becoming more institutionalized where people can trade them. So wine also has its model like that, but it's not as open. And because it's such a scarce amount of people, it doesn't work in what we talk about. So similar to art too.

You could have art that's like basically $5,000 art that's worthless that you're buying that has no value because you like the picture. Or it could be blue chip art. Like you might be buying something that you like a, I want to say like a brainwash or something that you're like entry level still has some kind of tradability because people want it.

You could have art that's like basically $5,000 art that's worthless that you're buying that has no value because you like the picture. Or it could be blue chip art. Like you might be buying something that you like a, I want to say like a brainwash or something that you're like entry level still has some kind of tradability because people want it.

And you might say, OK, I paid like five, but it always will be worth four. Like so it's always has some liquidity. And that's what we mean by a store value. So you have to find things that have a continuity of institution being willing to pay for it so that you're never overpaying and have huge drops of like 50 to 80 percent because you're just buying because you want it.

And you might say, OK, I paid like five, but it always will be worth four. Like so it's always has some liquidity. And that's what we mean by a store value. So you have to find things that have a continuity of institution being willing to pay for it so that you're never overpaying and have huge drops of like 50 to 80 percent because you're just buying because you want it.

Nobody really wants to put a pawn shop, you know.

Nobody really wants to put a pawn shop, you know.

Of course. So the value keeps going up, of course. And it's the same thing about those collector cars you talked about. You know, when you're only making five Bugattis and you've got 15 people wanting them, in five years, two of them will be crashed too. There'll be three of them, you know, and there'll be people that'll never sell them.

Of course. So the value keeps going up, of course. And it's the same thing about those collector cars you talked about. You know, when you're only making five Bugattis and you've got 15 people wanting them, in five years, two of them will be crashed too. There'll be three of them, you know, and there'll be people that'll never sell them.