It is no secret to those that have known me for a while that I don’t always look to Wall Street and follow the crowd. Those of you that have been with me for a while have seen an interesting array of businesses that we together have invested in. Everything from out of favor oil companies in the 1990’s when oil was under $10 a barrel, to motor re-builders when tech was on everyone else’s plate.
In this case I am kind of on the bandwagon but the bandwagon is still too edgy for Wall St. I am talking about the marijuana business. Pot stocks are the rage of the OTC micro cap market, but, for the most part, being ignored by Wall St.
It is now pick your play on words time. Want a growth industry? Want to plant your investment seeds and watch them grow? Looking for a high flyer? OK you are about ready to puke so I had better quit.
The truth is that the pot industry is the next big growth industry. You only need to see the lines outside the legal stores in Colorado and Washington to evaluate demand. The hurdles of governmental interference are disappearing every day or obvious reasons. It offers all levels of government a potential source of badly needed revenue and those incarcerated for pot crèmes will no longer be a drag on the prison system once pot is legal for both medical and recreational purposes. Recreational decriminalization may be down the road but it is going to be used for medical purposes in all states in the next few years. Once that happens the federal government will be forced to give it a new classification and decriminalize it. The floodgates will then open for recreational use.
No matter which side of the legalization argument you fall on it is as obvious as repealing prohibition what direction we are headed. If you are not morally opposed to its use or profiting from its legalization you may want to considering adding a few cannabis stocks to your most speculative holdings. I can’t recommend what I already own s
o please do your own due diligence and tread lightly with small purchases. There will be a few huge winners and a lot of losers but the winners will pay big.
Full disclosure time. I have no horse in the race personally and don’t use pot currently. In my very distant past I tried it a couple of times and confess to inhaling. Didn’t like the lethargy that came with its the high and I hated the thought that I actually ate Kippered Fish while experiencing the after effects. Kippered fricken fish. Yowza.
The industry will only continue to…(sorry it is the only word that fits) and may be worth a look if you are an adventurous investor. If not you may just want to roll one, relax and put on some Grand Funk Railroad, gotta go I’m Getting Closer to My Home.
Happy investing!