Dear Rudy: I borrowed $20,000 on a Credit Card to invest in Magic
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- Опубликовано: 9 фев 2025
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Quick reminder: Rudy is a high level certified Debt Wizard and this type of financial magic should not be attempted by apprentice magicians.
Finance Magic - Magic Finance
Credit Ruby is coming for Kaya's seat at the head of the Orzhov
nobody like this it is precisely 200
Still a better finance advisor than Dave Ramsey.
@@fsmoura it was 'financial magic' not 'finance magic'. so, it makes sense.
Forgetting magic for a second, this is general solid investing advice.
Oh, Timmy. That sounds like a tremendously bad idea!😬
I honestly enjoy when you lay out information that is of genuine use regardless of whether it is specifically targeted towards magic. Learning to properly wield credit is an important skill in todays world.
The Magic Historian 🐕 🍴
Purp!
weapons of mass consumption
The important thing is to learn to swing them around yourself in that impressive figure of eight pattern that makes you look badass but take care so that the sharp edge doesn't slice you in two.
Wish you weren't so ignorant, it's why I can't watch you anymore, quit talking out your ass about things you think you know. You might find that you get a better following.
My favorite type of Rudy video. Thanks from a non-magic player
I like how if we use the word leverage instead of borrowed or "on credit" you guys sound more fancy.
Leverage means the credit is used on business and not frivolous shit not intended to make you any money back
Dear Rudy, please discuss more about low-socioeconomic targetting.
I would argue targeting versus providing capital to people who always fall into interest. Sadly too many people live beyond their means and statistics show that lower income overspends on material unecessarry items. You will find wealthy people can't be taken advantage of easily as they are usually cheap/frugal. Not my opinion just what the research shows and banks will always go for the higher interest money grab
I think it means its targeting people who earn around average or below average wager who need cash like say you borrow 100 but the intrest keeps going up very high and people are unable to pay. so the bank earns this back in property or money they lose 100 but gain property worth say 20,000 cause the intrest rates were so high. if i understand rudy correctly the company thing is an example it could be any other conpany like a light and water company and it could be anything thats worth value and shops buy cards cheaper than market price so that they can sell it at market price so they cheat and gain money and the owner loses out
@@Netsonar69 might i ask where you get these statistics from cause most people actually need money for month to month living i know some cases there are those who spend on material things but most spend on basic needs
YeOldeBassist m8 the stress that poverty brings makes people spurg out of control on both necessities and luxury goods. People who have been worried about surviving the past 4 months aren’t going to think that they’re money is investable and that they can make a 4% gain over the next 4 months. You’re putting out talking points that are used by politicians as an excuse to remove social safety nets and blame the poor on the counties woes
This is not meant to be mean or insulting it’s just an argument that has malicious intent
Dear Rudy, these are my favorite types of videos, I’ve never played bought or held a magic card but I find the collections/value fascinating, and when you delve a little out of that world to explain these lessons that can apply to many other things that’s what I love the most
Putting a midroll add right after the words 'ten minutes' classic.
Honestly after reading the title i had shivers down my spine.
This person went full Timmy. NEVER, go full Timmy.
People other than Rudy who say 'Timmy' are going full Timmy.
Wtf is full timmy? Lol
naw this dude zoomed past full Timmy and hit Potato...
mike Duffy Tropic Thunder reference?
@@MacHacking Are you seriously dissing someone's anime pic? Astonishing!
But Timmy's Bent Card Emporium is too big to fail!! The Government will bail me out!
You may also need an unbent or overbent card emporium.
Do you listen to opie and anthony?
It worked in 08'!
guarantee you 100% rudy got both a sba disaster loan and ppp. rudy was bailed out in the last 3 months twice
I'm really learning a lot from these videos on economics. Thank you and please keep them coming!
Having watched every episode of Leverage I agree it is very difficult.
Excellent little nugget there: you've got to enjoy it. Good advice in general. Being stressed out by something clouds your judgment, and makes you fail to see options and opportunities.
Rudy started out describing buying magic cards. In the end he described junk bonds, coporate debt, and defined benefit plans. Remember 2020 will be the year of the Timmys.
Rudy's mustache:
1B 2W
3/3. Persist and Absorb
8:50. THIS is the most important aspect people overlook when investing in Magic cards - especially sealed product. It's exactly why I got out of the booster box game.
Right is great time for booster box game - judging by your name - id assume youre a 90s kid - I want to say this is wave 3 of mtg. Wave 1 is Seattle, wave 2 is ice age, right now is where i think the next generation of nostalgia starts. Dont break yourself, but keep your mind open. Remember when you cracked that card that beat you the last game during lunch time.
Also - fairly drunk right now - long week - deadlines - and a bunch of other shit id prefer not to say sober. Go stillers!
NotAPolarBear Calling people cringe is cringe dontcha know
It's video's like this that do 2 things. They show that Rudy IS an average individual who's accomplished great success due to his passion and education, also showing us that we could do the same. The second thing is that they keep me coming back to see what you have to say. Keep up the great work
Smart guy. Still I wonder why youtube recommends me these magic videos. I've never played magic, owned magic cards or even hold a single magic card in my hands.
I remembered I did that too before 2008. Citi’s offers were the best. Some have 18 to 24 months interest free plus 3% transaction fee maxed at $100. Some you pay low interest 2.5% fixed but no fee (make sure max amount and don’t use card till paid off). Then I used the money on high interest savings account with FDIC or bought savings bonds with credit card (2003). Those were the good days. Now, I have about $1,800 student loan left at 2.5% fixed (I had $21,000 consolidated loan at 2.5% fixed since 2006). Bottom line, if you are going to leverage, find something stable return yield and liquidity. Cards can have good return but not liquidity. If you plan to flip, be aware that others are doing the same thanks to social media where they brag about everything. You miss out element of surprise.
Thank you for being suck a great channel and such a wealth of information for the community. I finally joined your patreon and ordered 3 boxes of Modern Horizons. Can't wait until I can order other sets and then the commander 2020 decks eventually
How did it go?
Rudy! Sometimes when I'm home alone I like to shout your name like you do at the beginning of your videos. Because of you I bought my first box of magic I won't open. Shoving a box of modern horizons into my closet and we'll see what happens in 2-3 years. Then I went and got some tacos so it was a good night.
Jay Stein my lgs is selling boxes of modern horizons for 275...lmao!!! Wtf?
How’s that box doing now?
I recently started watching these videos and it made me want to buy a starter box of boosters, possibly buy one for each set that comes out, I plan to leave them for 10 or so years and see how much I can get for them.. but knowing me, I'll just open them in 10 years and look at all the pretty pictures, haha
I am an investor, and the risks Rudy points out in this video are the main reasons I never take loans, but instead keep reinvesting my own profits as capital for new investments. It can be _very_ slow to amass a serious amount capital this way, but it is the safest route, as you never have to worry about paying any money back. Honestly, I'm fairly certain I could make a lot more by taking a loan (leveraging), but that involves a possible risk that I don't want. Also, like Rudy said, you really have to keep your eye on the prize; If you're impatient, investing is not for you.
Duel deck Blessed vs Cursed is spiking because of gravecrawler. What a great investment. Up until last week you could still find them 20$ with shipping. Those days are gone. Glad I went all in on that & menfolk vs goblins! Packed with sure thing great cards!!!
Thank you Rudy. You’ve helped me from being a literal and figurative Timmy, to a great investor. Thanks again bro.
timmy's don't play. . so they make stupid purchases .
Never take out loans and credit cards for collectibles... the market is so wishywashy...
I love these video’s....In europe we don’t use creditcards much, so I try to use excess liquidity. Since cards increase slowly in value, I buy and wait.....HODL 🙃
Rudy is the CNBC of MTG Finance.
Just balance transfer to another 0% card and pay the 3% - it's better than the 15%-22% he would be paying. Some cards even have 0 fee balance transfers.
Hey Rudy! just saying that I am one of the people who loves you since 2017. my 551 alpha collection jumped from 2200$ to 16k since then! Thank you!!
Damn I loved you for being a good boy knowing much just liking your commentaries. But you're an intelligent ass dude that has learned systems. Only recently discovered the extent of the bulk of your magic booster box collection for unboxings. You're a fucking legend in my book. With some serious entrepreneur mentality
Okay wait…so this guy borrowed $20,000 to buy magic cards, and he expected them to appreciate enough that he would make all that money back within one year? I guess even adults can be Timmys
Rudy these videos are wholesome and you're keeping these kids safe with their spends.
"Real hat, not a taco hat." Poetry.
I always love these types of videos Rudy! Keep em coming! *giggedy*
TheMrJonR giggedy? do you even know the correct spelling of that or where did it come from?
Love seeing other content creators commenting on Rudy videos.
I came for the unbox videos, stayed for the sage advice by Rudy
I always love these great life lessons! I feel like I understand the investing world a little more with each one.
Thanks, Rudy. Love these insightful investing videos. Very helpful and yet somehow very entertaining as well. :)
Interesting concept, for stocks. The credit card leverage part.
At least it wasn't 20 grand worth of elderspell. F
Or Narwhals!
Or tar pits
Or Tacos
The Elderspell is actually going up in price. lol
Or Balduviuan Horde.
Rudy is an OG wall street bets member; plate thing on right hand shelf.
I've got 7,500 units of this food item that expires feb 2020. My cost was $1.09 each. I'm selling 2 for 13.49 on Amazon, after fees I get 7.19 for the 2. I need to drop my price so they sell faster before they expire. My target wholesale price to local stores is $2 each, they will turn around and sell for 4$. I got someone who would buy 5,000 units for $1.25 each which I would do just to get out of the market and be done. I think that person wants to sell all $1.75 each and they already have a buyer. But all the variations have their risks and rewards.
these videos are why I still follow creepy rudy to this day. I bought 1 pack of magic cards 3 years ago. I still come back every video for these and love the box openings. I know the big name Mythics, rares etc. of much of the latest magic cards but don't own a single one. Rudy is the best. He cares.
I remember when you told the Timmies to get credit cards...
Does Rudy really live in his parents basement?
Yes
I believe he actually invented the whole living in basement of parent(s) situation. Even before there were basements he was already doing this. You know he has a time machine right?
Yes. It is also his WPN store and Distributor.
I moved out, my gf was being a bitch. my parents called and said "we miss you come back" so i did. fuck it your parents love ya more then anyone else, they arent getting younger. live with love and forget society
Spoiler Alert: This whole comment section lives in Rudy's parents basement!
RUDY YOUR THE SHIT AND ALL THESE PEOPLE ARE SOOOO SOUR I LOVE IT. IT'S SO FUNNY TO SEE, GENUINLY A GOOD PERSON MAN THANKS FOR BEING AROUND.
Or just don't bet what you cannot afford to lose. Start by flipping small collections and then work your way up to big boy reserved list investments. This isn't hard people, also don't be afraid to offend people offer what you can and if they get upset or you're too far apart walk away. Always be polite but know when there isn't money in it.
H.A.M that’s what I did... I started with $200 and kept flipping small collections. Fast forward 2 years and I just sold one binder for $8,000 with a large collection left to sell.
I've been doing the second option you talked about with the money I've been talking for investments, but I keep it within my range where I can pay in full before the interest kicks in.
Credit Cards can be helpful, Out of college I got a Credit card from a local bank with a 4% Interest rate, but managed to pay it off every month. It allowed me to slowly build Credit over the next 2 years and since it was my only line of Credit, when making larger purchases on things or signing up for better cards - My credit was awesome from paying it off each month! However people beware of credit cards however, I've had some friends in debt only able to pay the interest each month. Be smart with your purchases and be able to pay it off as soon as you can and they can be valuable tools!
Then you can buy lots of magic cards!
This is crazy. Magic is basically becoming an unregulated commodities market. Timmy says “I want to take out a loan to try and make money while paying 20%+ APR “. Good luck.
Thanks Rudy I play your vids in my work van
I somehow subscribed to Rudy a couple of years ago after a rabbit hole on RUclips. Despite not ever watching, owning or playing MTG, and no plan to if I'm honest. I look at it more as an obvious investment opportunity more than a great game. Forgive me if I'm wrong but isn't MTG basically a pretty long term investment? Why the hell would you take a loan for a LTI expecting to pay interest??
Rudy is spot on with time flying in my comment alone. Couple of years feels like yesterday, and your comment about putting things off and all of a sudden it's month 10-11. Even with basic tasks. Thanks for another solid video.
- Mike^2
One option if you have $20,000 in CC debt is to open a new CC that has 0% purchase APR and use it for your normal stuff like food and then use the cash you are not using to pay off the $20,000 that way you don’t have to pay the balance transfer fee of 3%. This is totally interest and fee free money.
Holy shit, Chad definitely belongs in the thumbnail for this one. Rudy goes all in on Magic cards with credit while living in his moms basement and it actually pays off. Solid WSB investment advice lmao.
I swear down magic card value depends entirely on investors! Once there’s a shred of uncertainty and big investors offload people are screwed!
Uncle Ruby, dropping excellent advice for his fans.
wonderful seminar !!!!!!!
Leverage brakes empires. One of the truest things I have ever heard. Here I am 2021 and the national debt has ballooned. Leverage brakes empires.
I'm going to watch this video everyday until its drilled in this just makes SENSE
Good video. Food for thought.
Don't forget the 0 percent only applies if you pay off in the 12 month period. It still accrues over time as the twelve months rolls. So, all of that gets added to the balance on the day the 12 months expires.
Love videos of this nature hairy investing man. I love magic cards, but I'm in no position to invest in them. Still fun to learn how this market is evolving, and how it was before I was paying attention. I look forward to your videos this year for sure!
Loved when Rudy was trying to say LulaRoe.
Very informal video Rudy, I'm trying to branch into bigger capital, but magic cards shift so fast. At least the newer ones. Most of the old sets stay pretty high and meaty.
Rudy, I'm only subscribed for these videos.
"if you can't find a buyer for the card."
you bought the wrong fucking card.
Lularo was a weird beast. At least for me. The secondary market was where all the money was. I feel sorry for everyone who signed up to sell for them. They would get so much stock but id come in, pay a little more for the choice bits and get a crazy amount of return.
This video was very informative and I learned a lot from you today Ruby!
Thanks 😎 all of us really appreciate you
Could also borrow the same amount you are able to liquidate if you needed to. So it could gain interest or whatever it's doing, while you're investing... but if something occurs you could pay it off. Could also use interest from that money to help decrease the "loan". It doesn't need to be high risk. Build up to 20k too.. don't just start there... unless you got the 20k in savings and can use it if an emergency arises.
so if someone owed 80k in student loan debt, and their goal was to pay 20k per year. Would it be smart to take out a 20k loan on 0% and pay off 20k from the student loan that has interested? to get it down faster instead of letting it build over the full 12 months of a year. and then pay off the 20k loan at 0%? Does this still work since 60k is owed? Could one hypothetically take out 4 loans at 20k each fully pay off the student loan. then pay back 1 of the 4 in a year. and then get 3 more loans to pay off the 1st set of loans. pay the 2nd loan in the next year, get 2 more loans for 40k total.. so on and so forth so that in 4 years you have the 80k paid off but avoid paying any interest?
In Brazil this Credit Card interest would be almost 400% a year. lol.
Yes, a lot of things Rudy says does not apply here. its Just like logic
At one point I was in about $750k (yes k) down. about $700k in real estate, and $50k in credit cards and other stupid stuff. but that was just before the 2008 crash. Lost shirt. Afterward, several short sales and write-offs later... I decided it was high time to bet the $40k I saved up on some options... they busted, I lost. Since then, I don't do stupid stuff anymore.
Advice from an expert at losing money?
1. Don't risk money you don't have, you'll know you don't have it when you don't see it in your account or when your net-worth worksheet is less than zero.
2. You can't lose what you don't owe on. If you owe on something, you don't own it, it owns you - and you work for whomever lent you money.
3. Don't borrow money (except to buy a the house you will live in)
4. Do that, then you can be like me... now I have money, and I'm not about to lose it.
Money: what you have when you don't have bills.
Options are pretty sweet. If you were smart you would have only lost half, at worst. All you have to do is buy options for a stock for both going up and down. I don't, but I also only spend 1k here and there. You most deffinetly should not drop your entire savings.
Couple hundred dollars risk for a chance to get thousands? I don't think people know enough about options. EA being a garbage company made me nearly 1 grand.
Next up, US bank. What a piece of crap.
Stop losses.. . Learn about them
That sounds like a crazy thing to do!
Thank you, Rudy.
Hey Rudy, do you think you can make an in-depth video going over the 2017 black swan event? That sounds really cool and I like the way you present this type of information. Unless you already have a video about it.
Andesmountain agreed a deep dive would be really interesting
Thanks for the videos!
Around 4 min - humans observe/feel/sense things logarithmically, i.e. the larger something is the greater a change would need to be for you to feel it ($100 to $200 feels like a lot, but $15000 to $15100 isn't etc.) that is why time "flies" as an adult.
One year is just too short term for any magic investment. It is a crazy risk to have any plan where you have to make a profit and get out in under a year.
diablo ii video when rudy? What was your favorite class?
We need more of these videos ...
Rudy we love you man
Best video of Rudy ive watched
Holy smokes!!! It's 2019 "Ricky from trailer park boys" Rudy!!
Please open your next video with "smokes let's go"
Don't invest in Card Stock unless you're willing to sit on the cards for 10 Years. The value doesn't grow over night, and in most cases the Value stays the same for a very long time on many cards because they have too many reprints. Yes they might have stopped printing them but Thousands of copies of that card exist...Card investment is for the Long Run...The value on sealed product does go up but very slowly.
ShadowMare Z reprints kill me
Now I wonder how that writer would have done keeping the cards and selling it into the hype of 2021. Ah, the retrospective possibilities.
Walllstreet targets 6% as high?! god damn. I remember at department store training they told us out of 100$ of product bought at store, 6$ of that goes back into actual store.
This is what a CFP would provide to the investor as they use our money to get rich the packages that are sold to the investor from large institutional banks are a 6% return target while the financial planners firm is making 20-30 percent. That is the sad part they use our money to get rich and payout a small piece to the person who provides the capital.
0%, wow.
You can only dream about this in Japan.
Here it’s at least 15%, more likely 17~20%.
You basically cannot build capital if you don’t already have it.
What? Just work 18 hours a day :)
Great video man great!!!
i started my Forex studys on europe before the ESMA regulation at august 2018, with 1:50 leverage but now, a year later with more knowledge and a bit less money XDDD, even when i have only 1:30 after regulations i still need a micro account to get kind of inverse -leverage so i can start my empire with less than 1k, so i can hold the volatility on the dailiy chart (my place in the market, my strategy is at its final state of foward testing ;D) and avoid the mistake of "undercapitalization"
Leverage+undercapitallization is the killer of new investors, and winning streaks are very destructive :D
As a former trader I will tell you forex is used by institutional banks for arbitrage versus other positions. However, if you REALLY understand markets, future institutional baskets and have the capital to hold long term positions forex can be very very profitable. Rule I follow is always take profits at pivots never gamble and always follow your algorithm that provided your technical. Also never leverage a position you can't easily cover in case you need to hold a position after a 1000+ pip dip in a position. My experience is FX always goes to the technical people lose money because they can't hold long enough to see the market correct. Forex is very very risky if you don't understand all of these things intimately
Are you going to buy out the rest of his collection and share it with us :3
Rudy has obviously done amazingly well for himself, but the market of MTG cards from 2005-2021 is only indicative of itself. It is not repeatable. Rudy himself would not start out today and do the same things because the market is massively different. Rudy got away with having some credit card debt because he did some things well and got lucky enough to be investing in Magic in 2005. The sportscard market looks similar, and that's why a bunch of people are going to be disappointed when nobody from the 2019-2021 draft class turns out to be Lebron.
Amazing video. Thank you for the life lesson
Can i fail if i buy over years and years booster displays (12 - 20 per year) sitting on them for 10 to 20 years....not borrowing any money just spend the money that i earn anyways?
I have watched Rudys videos so consistantly for 4 months that as soon as he releases a video i get it in my recommended and i only realized today that i was not subscribed (that's fixed now)
And that's why I'm buying all of my Pokemon cards with my own money. Cutting back on spending elsewhere (not going out to eat as much etc) and just outright buying the product. Then I can hold on to it as long as I want without the hassle of interest, and can make my prices more flexible to get buyers. Someone is selling a card for $45? I'll sell it for $40 and still make profit.
I have like 5 credit cards and never heard of boucing, might look into it cause raising my credit limit is fun to me.
I have a long box full of pokemon cards ranging from unlimited to 2nd edition. It seems like most are worth a dollar to 3 or 4 dollars. How do I get rid of these without being hosed too badly?
Watching this video, I felt great about working for my salary, investing for maybe a 5% return, 8-10% on good years, and having my only debt be my mortgage, yet felt like a dipshit for doing exactly that. Not only that, I sold a current day 50k plus MTG collection for 3k before I left home for college (2001). Hard to say if I get my degree without that money, but man it stings seeing the value of cards these days.
*Edit:
I'd like to point out this was when you could get an engineering degree for $75-$90 a credit hour at a D1 university.