Does this apply to crypto?
I'm not bullish on Costco at 55 times earnings. It actually reminds me of so in the late 90s, everyone, of course, is knows the dot com bubble. But what they're less familiar with, in many cases, is if you look at like Coca-Cola stock, they were trading like 50 times earnings, and Walmart was trading like 50, 50 times earnings. So a lot of these kind of blue chip, consumer staples or consumer retail, that kind of thing, they were also trading at very high valuations over the next 1015 years, both Walmart and Coca-Cola continue to grow their earnings, their revenue and all that. But their stock prices went like sideways for like 10 years. Investors have to be cautious about overpaying for something that's very good. Something can be great. And you can turn it into a bad investment if you buy it for like twice of what it's worth.