$TLRY is the perfect example of why there is no sustainable growth in America — When people get lucky and think it’s skill. That’s when you know prices are too high.

When people get lucky and think it’s skill. That’s when you know prices are too high.

I just saw this come up on Facebook. It’s awesome that their portfolio is killing it, but I just can’t help but feel that they are being fooled by randomness. A rising tide lifts all boats. If their 58% returns were sustainable (or 100%+ annualized) they’d be competing to be on the cover of Forbes.

Giving other people who don’t invest the sense that it’s super easy to beat the market is just foolish and reckless. That’s how bubbles form and those with the least end up suffering the most.

This is how I know prices are getting out of hand.

 

 

h/t watchcargo

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