Quote:
Originally Posted by OMG!WTF!
It's funny watching bankers lose it over cannabis stocks. One told me to sell everything today because to achieve their current valuations every Canadian that ever lived would have had to smoke pot every day of their lives. It's funny cause that's just not how any of this works.
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I’m not completely out of these stocks, but the reality is that it’s a commodity that has a good story right now. That’s got the potential to inflict a lot of pain for amateur investors at some point. And I don’t mean that as “I’m smart and they’re stupid”, but I see the flows going into these things and there’s a lot of retail buyers. Not all, but there are only a few investment funds with positions and a few ETFs. That’s not the type of investor that performs well behaviourally when things change.