Simply because you have wealth doesn't mean you are a success as a person. You can have a hundred million in cash and still be a complete failure as a human being. For example a fork lift driver who supports his family, treats them with kidness and supports them is more successful to me than a CEO of a bank that earns fifteen million a year but cheats on his wife and beats his kids. Money comes and goes, but once you lose your integrity it's hard to get it back. Integrity is more valuable than money.
Thank you everyone for your comments. I live in Calgary with my wife & we are homeowners. So this post is not another rant about missing the boat. In fact, it's the opposite. It's about equality & sustainability. How can a city like Toronto or Vancouver thrive long-term without a class divide or unrest if a family requires twice the median income to afford a condo or if the majority of income goes into paying rent? How can we be ok with that? How can a city like that still allow foreigners to buy investment properties? How can rich investors still be allowed to speculate in the housing market when many can't even afford a downpayment without substantial help?
Weed stocks historically have been destroyer of wealth. I am sick and tired of people saying weed stocks are a long term play, buy and hold in weed stocks especially the ones like SNDL will take your portfolio down to 99% in couple of months. Even CGC has been down more than 60 percent from it's top before the pandemic even began. If you cannot hold this stock and diamond hand's it for more than 6+ months then GTFO.
APHA holders who bought before pre legalization and never averaged down just went positive only for 1-2 days this week. They 💎🙌 it for 3+ years.
For example take a look at this post. The Most Undervalue Company, this post is found in r/weedstocks when you sort it by top by all time. The user predicted a Stock Price to be 80+ in 2021 and current stock price is .017 cents. The post was created in when stock price was around $4.00 USD.
The only time people made money was during the runup of Canada Legalization. After Oct 2018 this was sell the news event and stocks started dropping. Since OCT 2018 - March 2020 Majority of the Favorite Weed Stocks had plummeted to 10-20 cents.
Lot's of discord and slack pump and dump group's are involved where the runup a stock and then drop the price. These people do the charts in youtube. If you are a normal investor who cannot spend the entire day day trading then you will loose your life savings.
Lets take a look at some popular weedstocks and how they are doing currently from 2018-2020.
M E D M E N it went from $6 to 10-20 cents in the above time frame.
I A N T H U F went from $6 to 10-30 cents in the above time frame.
CANTRUST_OR_CANT TRUST US basically did fraud, after a whistle blower complained about it the stock price went from $10 - 50 cents
charlotte web went from high $20 to $3.
Acreage Holding went from high $30 to $1.5 and bounced back.
I am not listing the absolute worst stocks from 2018/2019 time frame I am listing the ones that were very popular in r/weedstocks.
Even the ones with good earnings and management like TRUl, GTII, CRESCO, CURA and others went down to $2-$5 in march.
This is a highly speculative industry where the stocks are highly manipulated by day traders and others.
Weedstocks have destroyed more people lives in 3 years than WSB have destroyed in 8 years.
EDIT : For people complaining I have listed some of trashiest companies, please remember these we... keep reading on reddit ➡
We weren't exactly sure what to expect before we started doing this analysis. We had hoped to conclude that working 40+ hours per week has been fairly rewarding people in comparison to other more passive methods of wealth creation, such as property ownership. To do this, we compared home price appreciation to median after-tax income each year from 2005 to 2020. What we discovered was troubling, and not only for Toronto and Vancouver.
But let's start with the worst of the news:
From 2005 to 2020, someone owning a two storey home in Vancouver created approximately $600,000 more wealth than someone earning the median income during this time. This is an annual average of $40,000, which actually exceeds the 2020 median income in Vancouver. Just to "earn" as much as a two storey home owner, you needed to earn approximately $80,000 per year from 2005 to 2020.
Obviously most people cannot just buy a home instead of working, because they need the liquidity and cash-flow. But if we are not sufficiently incentivizing and rewarding people for their work, it is simply demoralizing. On an individual level - this is causing mental health problems and hopelessness. At a national level - this is causing brain drain and will hurt the economy and innovation. When we were growing up we were told "If you work hard, you will succeed". Well, too many Canadians are tired of working hard and not seeing the results.
Sounds like mommy issues