When assets gain in value by multiples of the original price, it’s usually because the public has mispriced or not properly anticipated the value creation moment. There could be a number of reasons for this, although the public seems convinced it’s usually based on random luck. While things appear to be arbitrary, it’s likely you may not be observing them from the right perspective. If you’re forcing a view that’s not there, the lesson could be very painful for you. On the other hand, if you don’t understand the view but can appreciate the momentum, you can capture a lot of the value. Humility is key.