Although cannabis stocks have been considered “hot” money, Doug Casey, founder of Casey Research, said that this sector is currently overbought, as is the overall equities market.
“I don’t like the overall stock market…point number two, I’ve been involved in these marijuana stocks, I think that you could never go wrong in two ways: underestimating the stupidity of the American public, or underestimating their desire for vice,” Casey told Kitco News on the sidelines of the Silver & Gold Summit in San Francisco, “unfortunately, it’s become a bubble, and it’s peaking.”
On commodities, Casey thinks that there is more upside still, saying that he is “a commodities bull.”
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
For more breaking news, visit http://www.kitco.com/
Follow us on social media:
Facebook – https://www.facebook.com/KitcoNews/?ref=br_rs
Twitter – https://twitter.com/kitconewsnow
StockTwits – https://stocktwits.com/kitconews
Live gold price and charts: http://www.kitco.com/gold-price-today-usa/
Live silver price and charts: http://www.kitco.com/silver-price-today-usa/
Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscription/newsletter.html
Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/
Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.