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Saturday, December 27, 2014

The Economist: The baseball-card bubble

A nice short history of the baseball card bubble:

Several years of caustic negotiations between team owners and the players’ union culminated in a work stoppage in 1994 and the cancellation of the World Series for the first time since 1904. The strike cost Major League Baseball dearly—attendance and revenues fell sharply when play finally resumed—and spelled doom for the card traders and dealers whose success depended on unbroken good fortune.

Just a few years after the bitter collapse of the baseball-card boom, many of the same kids were intoxicated again, swapping tech stocks across fancy new online trading platforms from dorm rooms and group houses. And then, older but no wiser, they were at it once more, borrowing recklessly for a first home and a ticket to future wealth. Three strikes, as it were.

The Fallen Reputation of Billy Jo Robidoux Posted: December 27, 2014 at 09:50 AM | 24 comment(s)
  Beats: bubbles, cards, finance, memorabilia

 

 

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