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Stamps as an investment might be likened to unim-proved real estate. So long as real estate remains un-improved it will not increase in value and will, in fact,eventually eat its head off in taxes. The true investormust consider what the interest will amount to on themoney he ties up. If, as is forcibly presented by theproponents of "buy stamps for investment," it becomesnecessary to hold those stamps for a "waiting period" offrom ten to fifteen years before any appreciation takesplace, the interest on the money invested may well eatup any profit we might hope to make. Like unimproved real estate, if we guess right we maymake a profit but we shall have to wait many a year tofind out. |
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