Issue #8 | March 7, 2026
The Numbers
Why, Gold??
This week the data shows:
–Baseball hold on speculation
–Basketball moving into midseason lull
–Football offseason vibes
–Soccer expect this to reverse strongly
–Pokemon oh look, another huge week
–One Piece back to gains after consolidation phase
–S&P 500 does not like military conflict 👇
–Gold biggest surprise of the week 👇
–Bitcoin paradigm shift?👇
It’s not supposed to work like this.
When the U.S. and her allies attack a developed nation in the Middle East, gold is supposed to skyrocket. The numbers above seem to contradict that, and further, Bitcoin had a huge bounce back.
What we might forget, however, is this is deja-vu all over again (deep-cut reference). In June 2025 Israel struck Iranian nuclear sites, and we had very similar initial market reactions: Gold up, equities down…these arespooked markets.
What happened next was critical, however: The Strait of Hormuz was unaffected. This is the energy conduit of the world: More than 14 billion barrels of oil flow through the strait per day.
Fast forward to now, the picture seemed the same at first, until 2 days ago Iran deployed drone strikes in the vicinity of the Strait, forcing shipping companies to halt operations.
So at first, gold traders saw the conflict and were not concerned, but then a sharp uptick in gold futures followed two days ago when the Strait shut down.
But these are uncertain, dangerous times. Bad times in the short term historically for stocks.
Meanwhile card market demand seems a bit muted across the board, as safety is more foundational than love and belonging in Maslow’s Hierarchy of Needs. Except the Pokemon market, I guess.
My heart goes out to all those caught in the crossfire in the Middle East, hoping for safety of all loved ones and friends in that area.
The News
2026 is Hot
“The hobby is off to a record-breaking start in 2026,” a recent article published on Cllct proclaims. The article specifically looks at sales 10k+, $100k+, and $1M+, and results will be unsurprising to Slabnomics podcast listeners.
The article compares 2025 sales volume in these tiers to the last 7 years, and here’s the breakdown for you:
$10k+ number of transactions:
2019-2025 average: 13,927
2025: 24,994 (79% higher than average, All time high)
$100k+ number of transactions:
2019-2025 average: 609
2025: 911 (50% higher than average, 12% off ATH)
$1M+ number of transactions:
2019-2025 average: 20
2025: 29 (45% higher than average, 33% off ATH)
You, dear reader, may ask: “Are we slowing down in 2026?” Check this out:
Pace for 2026 as of March 3, 2026:
$10k: 41,000 Projected (194% more than avg, 64% more than all time high)
$100k: 1372 Projected (125% more than avg, 32% more than all time high)
$1M: 41 Projected (105% more than avg, almost reaching all time high)
The bull market shows no sign of slowing the stampede at the top end.
Curious how you can action this? Check out my podcast where I give you where I think the market changes direction in 2026, and how you can take advantage here.
The Framework
Topps Chrome is back, baby. But what does that really mean for card investors??
Will this changing of the guard have a dramatic effect on valuations for Prizm and Topps Chrome, or will things continue as usual?
Vulnerability moment: What I’m going to refrain from doing is giving you my feelings and my observations, because these are biased and cherry-picked.
Leaving the demand side for now, let’s just compare a couple key cards in big sets, so we can get a gist of what that population map looks like.
I’ll leave you to your own conclusions
Full breakdown of all Topps Chrome sets coming soon on Slabnomics.com to join the Prizm breakdown. ❝
“In my opinion, the market tells you when to buy things. And when things are really cheap…you should like them more.” -Seth Klarman
Keep Building,
DISCLAIMER: This newsletter is for educational and informational purposes only and does not constitute financial, investment, or legal advice. The content reflects the author's personal opinions and analysis and should not be construed as a recommendation to buy, sell, or hold any assets. Sports cards and collectibles are speculative investments with significant risk of loss. Past performance is not indicative of future results. The author may hold positions in assets discussed in this newsletter. Readers should conduct their own research and consult with qualified financial, tax, and legal professionals before making any investment decisions. By reading this newsletter, you acknowledge and accept these terms.
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