Pokemon Collectors Reject Profits
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A story about how Rally Road investors turned down a profitable buyout offer for Pokemon cards, showing how collectors think differently than pure investors.
"Let's say a box of Pokemon cards went on Rally Road - a super rare Pokemon card set. They IPO'd it at around $50,000. Then what happened is a big Asian investor came in and said 'We'll buy this thing out for $85,000 now, so you'll all get a profit, but we want to own this thing.'
They put it to a vote of all the shareowners and they said no. They said 'We're going to hold it, we think it's going to go up.' They voted to keep it. They're not all trying to liquidate soon. Some people who are buy and hold investors want to own these assets for a long time because they think about the long-term value potential."
Shaan Puri
Host of MFM
Shaan Puri is the Chairman and Co-Founder of The Milk Road. He previously worked at Twitch as a Senior Director of Product, Mobile Gaming, and Emerging Markets. He also attended Duke University.