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Re: Gernay, Oldridge, Horne Plead Guilty
Your examples arent even close to this situation. A better example would be Ford has been selling fake Mustangs for the past 5 years mixing them in with real ones. But there is no way to really know if you are getting a much cheaper replica. Watch the prices then.
And you seem to think they only sold these to card companies, which isnt the case. As for the one example you seem to be needing isnt a federal conviction enough? Is that not one example?
This and other related threads are quite the study in human nature. More specifically, I am referring to the "knee-jerk" reactions many people seem to have when something big happens. And yes, I do think the J.O./dirty six thing is very big.
With that being said, you see this kind of thinking happen over and over in the financial markets: What? CEO John Doe may have to resign because he lied on his taxes? CALL THE BROKER AND SELL, SELL, SELL! What? Apple's earnings are eight cents below projections this quarter? CALL THE BROKER AND SELL, SELL, SELL! What? The numbers have been audited and it appears that the accountant pocketed a few thousand dollars? SELL, SELL, SELL!!!
To be fair, of course it is possible that J.O. Sports sold bad (or sloppily documented) stuff. I'm not defending anyone in that regard. All I am saying is that when you start talking about forged photo matches from companies that had direct team contracts, you might want to find at least one example before you start spreading the panic. Most card companies were apparently not concerned with photo matches, but were depending on the reputations of the sellers. As has been stated before, there is a big difference between selling to a card company versus selling to a collector who will leave the jersey in one piece -- and will be probably concerned with dates, stains and loose threads.
Once again, this post is not meant to defend anyone. I'm simply looking at how certain people -- whether an investor or collector -- tend to overreact when events happen. A large, quick drop in the price of a stock due to a short-term event usually signals a good time to buy. I'll say the same thing here; if anyone wants to sell me their J.O. jerseys for 20% the price they originally paid, feel free to shoot me an email.
With that being said, you see this kind of thinking happen over and over in the financial markets: What? CEO John Doe may have to resign because he lied on his taxes? CALL THE BROKER AND SELL, SELL, SELL! What? Apple's earnings are eight cents below projections this quarter? CALL THE BROKER AND SELL, SELL, SELL! What? The numbers have been audited and it appears that the accountant pocketed a few thousand dollars? SELL, SELL, SELL!!!
To be fair, of course it is possible that J.O. Sports sold bad (or sloppily documented) stuff. I'm not defending anyone in that regard. All I am saying is that when you start talking about forged photo matches from companies that had direct team contracts, you might want to find at least one example before you start spreading the panic. Most card companies were apparently not concerned with photo matches, but were depending on the reputations of the sellers. As has been stated before, there is a big difference between selling to a card company versus selling to a collector who will leave the jersey in one piece -- and will be probably concerned with dates, stains and loose threads.
Once again, this post is not meant to defend anyone. I'm simply looking at how certain people -- whether an investor or collector -- tend to overreact when events happen. A large, quick drop in the price of a stock due to a short-term event usually signals a good time to buy. I'll say the same thing here; if anyone wants to sell me their J.O. jerseys for 20% the price they originally paid, feel free to shoot me an email.
Your examples arent even close to this situation. A better example would be Ford has been selling fake Mustangs for the past 5 years mixing them in with real ones. But there is no way to really know if you are getting a much cheaper replica. Watch the prices then.
And you seem to think they only sold these to card companies, which isnt the case. As for the one example you seem to be needing isnt a federal conviction enough? Is that not one example?
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