O'Leary Diversifies Portfolio with $11M Sports Card Investment
Kevin O'Leary has invested in rare sports cards, specifically targeting a one-of-a-kind card featuring Shohei Ohtani's game-worn jersey. This purchase is part of his strategy to diversify his portfolio by allocating around 5% of it to this asset class. The card was found in a Boca Raton shop and only one exists.
O'Leary's group, which includes collector Shyne and entrepreneur Paul Warshaw, has spent roughly $100 million so far on these rare cards. They have created the WonderShyne Index, which they claim holds no losers since O'Leary picks the cards and sets the entry rules.
When asked about his reasoning for investing in sports collectibles, O'Leary pointed to the massive US M2 money supply of $23.22 trillion in July as a justification. He sees this asset class as an alternative to stocks and Bitcoin, citing that central banks can't print more of these unique items.