ANOTHER BUBBLE BURSTS

Those that listen to the radio show, watch us on tv and read our psychotic missives know we were all over the “coin” mania/bubble/scam. All the way back last December, in the midst of the climactic move, we wrote to you and told you that this was all bull crap. We told you there was no economic value to any of the coins. We thank the great Stuart Varney to allow us to tell his ample audience about this while the con artists were all telling you $50,000, $100,000 and one con man telling you a $1 million price target for Bitcoin. We told everyone that eventually all the coins would be “dust!” We cannot start to tell you the type of phone calls and email we received. (We were not wished well!) Fast forward, the average coin is down in the 90s with many already gone. By the way, you cannot sell in size any that are down in the 90s. Bitcoin is down in the 80s and going through the “slow death!”

Well…we also told everyone that the weed stocks were also a mania/bubble with a lot of it being a scam. The difference will be there will be a business. The problem is that many of it was bull crap. We used Tilray (TLRY) as the poster child. It experienced a climactic run just like the coins. Go compare the “Eiffel Tower” charts of each. The simple problem was at the highs of Tilray, it had an almost $30 billion market cap with only $25 million of sales, continued losses and a CEO that stated they needed to raise money. Tilray is now down 75% from the highs. Many of the “crappy” companies are down even more. We are still getting calls at the office to invest in weed start ups. Here is the problem. Tilray still has a $7 billion market cap. Would you buy a company for $7 billion that has only now $30 million of sales, loses money and needs to raise money? We expect this to drop to all the way down from where it came from as bearish markets pull down the curtains on bubbles/manias.  Remember this. A lot of money has been lost.