* Examining lessons from my foray into and exit out of cannabis stocks While Elon deals with Twitter, satellite internet, SpaceX, Tesla and everything else you’ve likely heard about lately… Another Elon story has been playing out behind the scenes… That Elon has been quietly leveraging a brand new “secret currency…” A secret currency that the International Monetary Fund predicts could rise as high as 24,900%. So I'm going to wait until at least mid-January before deciding whether to withdraw my recommendation of the AdvisorShares Pure U.S. That said, I worry that today's sellers might be bottom-ticking the sector – especially given that it's year end, when anyone who owns these dreadful stocks wants to sell to take a tax loss, plus professional investors want to get them off their books so they no longer have to explain their mistake. I, too, have been completely wrong on this sector and am considering following Doug out the door. I think Doug shows similar humility and wisdom in his recent missive, in which he explains why he has sold the pot stocks he owned and what his mistakes were. ![]() Sure, he has an ego – "my idea of a group decision is looking in a mirror" – but he's also very humble, regularly saying most investments are outside of his circle of competence and berating himself for mistakes he has made. ![]() Look at the all-time greatest investor, Warren Buffett. Pretty much everyone who manages money has the confidence part down pat – a lot of Type-A "Masters of the Universe" – but very few have even a smidge of humility, which is equally important. One of the reasons why my friend Doug Kass – who manages hedge fund Seabreeze Partners – is one of my favorite investors and investment writers is that he marries experience, wisdom, and confidence with humility. That's because every single modern technology – 5G, artificial intelligence, blockchain technology, IoT, robotics, quantum computes, and EVs will have to switch over to SWaB to stay relevant. Even the world's most powerful companies, like Apple, Microsoft, and Google, are spending billions to onboard it. This year, massive investments are pouring into this innovation from some of the richest people in the world – like Elon Musk, Jeff Bezos, and Warren Buffett. Here in the U.S., it's already being implemented in 38 states and counting. More than 100 countries around the world are rolling out a system called "SWaB" that could have a bigger impact than the Internet in the days ahead.
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