It's true. Cannabis is going to be the most important growth story of the next decade, and it is going to make a lot of people rich.
If you've been with me a while, you know I have a, shall we say, totally comprehensive approach to investment research.
That's a fancy way of saying, “Before I put up a single dime, I like to go out and learn EVERYTHING there is to know about the company I'm about to own, or the sector I'm moving into.”
Marijuana's no different.
It's a sector I know from the street on up. I can do my analysis and run numbers from my terminal, but when it comes to cannabis, you can learn a lot just by walking around, talking, and listening to people.
Lots of different people…
I've talked to folks who use it for pain and a host of other medical ailments.
I've buttonholed doctors, lawyers, psychologists – and a lot of other people who are intimately familiar with the industry and the product.
I've hung out with recreational users and heard about how cannabis use has impacted their lives.
Believe it or not, I even spoke with a cop of more than 20 years. He told me that legalizing recreational marijuana would be one of the best things to ever happen to crime rates in the United States.
The lawman noted in over two decades in law enforcement, he had locked up hundreds of violent drunks and hard-core drug users… but never once had a problem with a violent “stoner,” a marijuana user.
I'm no cop, but the benefits of legalization are obvious to me, as they are to increasingly more Americans – even those in Congress.
Cannabis has medical uses: a sleep aid, a pain killer, an anti-nausea treatment, an appetite stimulant, and a whole lot of other benefits science is just beginning to discover.
It has potential to help the opioid abuse crisis that killed 42,000 Americans in 2016, and threatens the lives of millions more.
Legalized marijuana will lead to fewer nonviolent drug offenders and help ease conditions in our grossly overpopulated prisons.
State and local governments searching for funds to reduce pension deficits and provide essential services could very well raise truckloads of cash from the tax stream created by legalized pot.
So the question is not “Should we legalize marijuana at the federal level?” The question is: “Why the hell haven't we done so already?”
The possibilities are simply too rich for anyone – individuals, governments, institutions – to pass up…
The Time to Move on Marijuana Is Right Now
As an investor – and a human being – I'm attracted by the enormous potential of something that can help a lot of people while providing needed tax dollars without the government dipping into my wallet without my consent.
But again, if you've been with me a while, you'll know I'm a bargain shopper – no, make that “massive cheapskate” – when it comes to stocks. So can I personally justify paying the “top dollar” that the current crop of pot stocks provides?
STAKE YOUR CLAIM: Three pot stocks in particular could be poised for rare, wild gains of up to 1,000%. Click here to learn how you could see a $2 million “pot payday”…
Eh, not quite.
I think more like a private equity guy than a venture capitalist. I might break out in hives if I tried to change.
I'm not saying there aren't some dynamite pot stocks out there (like these four picks); it's just not suited to my particular style.
The cannabis industry is very much in its startup and growth phases, and I don't think I'd be any good at navigating that (unlike my colleague Greg Miller, who happens to be outstanding).
Instead, I'm taking this get-rich-slow approach to cannabis…
Full story at Money Morning