Luke

Can’t believe I get to call this the new centerpiece of my collection today. Amazing feeling and very grateful. Best signed Satch rookie out there. #satchelpaige @CardPurchaser @breakoutcards_ @CardsStory

😂😂😂

@PSAcard can you please add "sort" functionality to the collection view. its 2025

trio of elston howard signed rookies

More progress in this tough early GU auto set

@BoringBiz_ the motto was 'it gets worse before it gets worse'

@bleeckerstcards 🤣sorry

Reality of being a private equity associate > Walk into the office at 9 AM. You are tired from consecutive set of 2 AM nights you had to pull for the entire week before on a deal that ultimately ended up nowhere > Principal comes by your desk and hands you some analysis to run for an existing PortCo. You bought this thing at peak multiples back in 2021 and now the numbers dont justify anywhere close to the valuation you paid. LPs are asking for return of capital and MD has asked you to get "creative" on how this can be accomplished > You run the analysis, putting together 7 different transaction scenarios, including a dividend recap, continuation vehicle, sale, IPO etc. You look at your list of public comps to see what valuation you think you can get on the business. Send it off to MD in the hopes that he will realize that you cant sell this business anytime soon > Meanwhile, get staffed on a new deal. Staffer says this is just an initial screen, should be pretty light from an analysis perspective. Get added to the banker VDR and VP on the deal team immediately hands you a list of analysis to run on the banker materials, including KPIs and a simple model with various scenarios to estimate levered free cash flow and IRR / MOIC > You look at the clock. Its now 5 PM. Only 9 more hours to go, you tell yourself. Reading the CIM, you realize this is a ShitCo masked as a "recurring revenue company with multiple abating headwinds" and "190 years of cumulative mgmt experience". You smile, thinking back to your banking days, and realizing how stupid these bankers are > As you finish smiling, get a follow up email from your MD. He has sent you 7 pages worth of comments, including one titled "why is our base case not showing 20% IRR?" As the smile wanes off your face, you come to the conclusion that you are just in banking 2.0, but somehow even worse > You go back into your model and start plugging assumptions that helps you show a 20% IRR. Should I show revenue growth for a business that has declining topline for the last 5 years? Sure, why not. Should I show margins improving for a business where raw material prices and labor trends have only been trending up? Sure, why not. It doesnt need to make any sense. Your MD will just need to find a way to spin it to your IC in the name of "operational value add" and "low hanging fruit for driving topline growth" > Send the model outputs back to your deal team. Continue to read the CIM and go through VDR materials for your new deal. VP comes by and asks you to explain what the business even does. He has clearly not even opened the VDR. You have no idea either, but rattle off some buzzwords that you read in the CIM. It is a provider of "mission critical software" with high gross retention (customers hate them but cant move from it). Your VP loves it. He asks you to jam on some more analysis so you can discuss with your MD in the morning > You spend the next 6 hours putting together a bunch of nice looking charts and pages. Most of these are coming directly from the CIM, but you wonder why you need to recreate these anyway. Your VP is against snipping CIM charts. Wants everything in your "firm format" > Come 1 AM, you send it off to your VP. VP quickly reviews, gives you a bunch of comments and goes to sleep. You turn them overnight and take an Uber back to your shoebox appartment. You are somehow earning $300K, in the top 5% of earners at your age, but still feel poor. You can barely afford an apartment without roommates. "This career path is just not what it used to be", you tell yourself > Wake up in the morning and sit down to discuss analysis with MD. Your MD goes through the first 3 pages out of the 20 pages of work you put together. He says "wow, this is prone to AI risk. Just dont think we will get there on valuation" and kills the deal. You go back to your desk, upset at yourself for thinking private equity was the "promise land" for bankers

mvp! mvp!

@natsturner “Pnuts”

A few more signed 1952 Topps cards added to the collection

fun pairing

@mongoose205422 Do your research son

@bleeckerstcards @CardPurchaser 1/50*

Jeter 1/1 believe it or not @CardPurchaser

@40YearOldVision Do your research son

If this is true, then every numbered card is a 1/1. There is only one 3/5, 7/10, 219/2025, 432/499, 599/999.....

my favorite pickup from WCCS

and another 1/1 Jeets from the pc

@natsturner hey thats my card

@natsturner @PSAcard Link to your ebay listings via PSA vault to show what you have for sale

For those that use My Collection / PS Vault via @PSAcard, what features are we missing + do you want to see? Self-service transferring to other vault users I know is top of list, what else?

@natsturner @PSAcard Live tracking of where my requested shipment is in the process. Right now all I see is “to you” in status then have to wait for emails on tracking

@natsturner @PSAcard Please make a “sort” feature so I can browse my collection without being restricted to when I added the cert to the PSA collection

In 2006 the hobby landscape changed forever. In 2005 MLBPA told companies they needed to follow rules for players to be released in MLB sets Either A. Player had to have played the year prior or B. Player has to be on an active MLB roster Topps immediately failed A thread

Where can I get an authentic (player quality) Barry bonds giants jersey? Seemingly impossible to find anything but knockoffs online. #barrybondsjersey