Feb 06, 2018 Guest(s): Doug Casey Best-selling Author
The trending investment themes today, like cryptocurrencies and marijuana stocks, are too overbought to get in right now, said best-selling author Doug Casey.
"I'm up maybe 50 to one on [bitcoin]" Casey told Kitco News on the sidelines of the Vancouver Resource Investment Conference, "but I can't recommend something to people after it's gone up 50 times in a year, and it's pretty much the same in the marijuana space. These pot stocks have been on fire, I think pot is going to get much bigger."
Casey said that current valuations do not signal a strong buying opportunity in bitcoin or marijuana stocks. "I like to buy things when they're cheap," he added, "I'm looking at things like soybean, and cattle, and silver, things like that, because the bubble will be ignited in those areas as well, but you can get into them very cheaply right now."