The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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I am certainly not recommending buying stamps from SG without knowledge of what you are buying. I was merely pointing out someone says stamps rose in value 6% so somebody apparently is buying them and asking the question if SG is pushing investments again. The reason I ask is because SG made huge profits with investments before it all fell apart.
I am sorry you had a bad experience buying a so called investment product, but SG fleeced its clientele with promises it could not keep.
Who are you Carpe Diem? Do you know much about how to invest in stamps? Whether pricing is transparent? How much the market would have to move in order for an investor just to get his money back?
When I learnt to what extent SG went with their investment con, I was filled with.....
Rage!
Why?
Because I have an item, an ex SG inv item with its original stock card, with the price still marked at which it would have gone into the investor's portfolio. And that's before commission and annual management charges etc etc.
To avoid identification, I will just say that it was priced by SG at over £2000 and realised at auction less than £900.
And..........the market has not exactly been in the doldrums these past few years.
Any moral, Carpe Diem?
The US reported figures on job losses today - there was a enormous leap in them, most people will be using that money to protect themselves against possible job loss and the rest will see $1200 as not enough to make any difference.
I can see any one rushing out to buy stamps with their windfall in any number.
It's not yet clear if we'll have inflation or deflation as a consequence of this crisis, but that wall of money might end up somewhere else, like checking accounts.
I wonder how many of those USD 1200 cheques being issued to each US citizen will end up buying things like stamps? Could be really excellent for the business - sounds like a wall of money about to hit things.
According to moneyweek stamps rose by 6% in 2019 and by 64% over 10 years.
They don't say how they came by this figure but is SG pushing the investment angle again?
In these troubled times collectibles are a hedge against inflation.