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<p>[QUOTE=&quot;WillieSutton, post: 79057, member: 3835&quot;]Wow!&nbsp; A lot cliche from collectors on investing.&nbsp; Please allow me to give some cliche from an investor on investing.</p><p><br /></p><p>I am on record here as a long-term investor struggling with the details of collecting.&nbsp; But I am certainly not trying to tell collectors how collecting, grading, etc., work, or should work.&nbsp; I have said I may take five years to buy a numismatic, or I might buy tomorrow.&nbsp; </p><p><br /></p><p>Respectfully, I would suggest collectors do more listening to experienced investors in acquiring additional knowledge, rather than trying to persuade investors about investing or trading.</p><p><br /></p><p>It occurs to me one thing that might be helpful in bringing the disciplines together and furthering the discussion is to suggest a couple of major differences between the activities are as follows:</p><p><br /></p><p>(1)&nbsp; Collecting seems to be heavily based upon current facts, or near-facts.&nbsp;&nbsp; </p><p>Although there are some uncertainties, the value of a coin appears to be largely a factor of age, condition, guestimated mintage still existing, content, authenticity, grading, market makers, etc.&nbsp; There are certainly other considerations.</p><p><br /></p><p>(2)&nbsp; On the other hand, success in investing and trading can be heavily based less on fact than on perception, actions at the margin, expectations, etc.&nbsp; Markets can be major dicounting mechanisms, moving significantly prior to fact.&nbsp; Perhaps counterintuitively, there is a recognized strategy of buying on the rumor, and selling on actualization of that rumor. Or, markets can swing both ways far beyond rationalization. One can be right on the fundamentals, and go broke waiting for markets to recognize it.&nbsp; </p><p><br /></p><p>Plus, there is need for major money management techniques with investing.&nbsp; While, with collecting, there seems to be more and possibly abundant advantage in narrow specialization.</p><p><br /></p><p>The similarity might be that, while quite different disciplines, they are equally and endlessly challenging.&nbsp; And, although there are exceptions, both seem to be areas where one can continue to get much better with age.</p><p><br /></p><p>Willie (The Ghost of)[/QUOTE]</p><p><br /></p>

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