NYLIBUD Posted October 11, 2018 Share Posted October 11, 2018 So I've been doing some research on where to invest some of my money that was left for me by my aunt who recently passed away.I met with a great broker who said that marijuana,now that it has been leagalized in some states,and anything involved in it,(E.g.medical industry,)will be the next big money maker.So I went for it.Now I have to keep my fingers crossed.??.Oh by the way,I don't smoke the stuff,LoL. Quote Link to comment Share on other sites More sharing options...
Can-Con Posted October 11, 2018 Share Posted October 11, 2018 Check this out Ron. https://www.cbc.ca/radio/thecurrent/the-current-for-september-27-2018-1.4840460/this-man-made-1m-investing-in-cannabis-but-expert-warns-it-s-a-lottery-1.4840643 Quote Link to comment Share on other sites More sharing options...
NYLIBUD Posted October 11, 2018 Author Share Posted October 11, 2018 Thanks for the info. Quote Link to comment Share on other sites More sharing options...
Little Timmy Posted October 12, 2018 Share Posted October 12, 2018 I had stock ....... But then Cheech & Chong showed up, and my stock went "Up in Smoke" ! Quote Link to comment Share on other sites More sharing options...
NYLIBUD Posted October 12, 2018 Author Share Posted October 12, 2018 16 minutes ago, Little Timmy said: I had stock ....... But then Cheech & Chong showed up, and my stock went "Up in Smoke" ! .That was good. Quote Link to comment Share on other sites More sharing options...
espo Posted October 12, 2018 Share Posted October 12, 2018 I would be very cautious how and were in the Marijuana you invest, but I agree the possibilities are great for the medical side for sure. I think that some day the recreational side will be treated much like Alcohol and taxed and users will have to meet the same regulations as Alcohol. I have heard that people generally behave better when High than when Drunk. So that could also be a benefit. Quote Link to comment Share on other sites More sharing options...
Dave Ambrose Posted October 12, 2018 Share Posted October 12, 2018 You want to invest in the bakery next to the dispensary. We had some controversy here when an enterprising Girl Scout set up a table near a dispensary. Quote Link to comment Share on other sites More sharing options...
Fat Brian Posted October 12, 2018 Share Posted October 12, 2018 Wow, when my rich aunt died I owed her twenty dollars. This is still a very gray area of the law with federal laws lagging behind the states. If an aggressive administration wanted to go after marijuana money it still could and you'd have very little recourse because it's still technically illegal. I'm surprised a broker would push you this direction, it seems like he's fine making his percent of your quickly growing portfolio and leaving you holding the bag if things go south. At this point l wouldn't put any more money than I could afford to lose in marijuana based businesses. Quote Link to comment Share on other sites More sharing options...
mikemodeler Posted October 12, 2018 Share Posted October 12, 2018 I have yet to inherit any money from relatives but have invested in retirement funds for a long time now. To Brian's point above, I would watch your investment in your pot stocks closely as the industry is in the early stages and subject to change with governmental intrusion and if you have watched tech stocks over the years, there were many companies that were hot one minute and worthless the next, mostly due to regulation or investors moving on to the next big thing. Had a friend brag about his "wealth growth" during the tech boom build up in 1998-99 only to see it evaporate by 2001. Needless to say, he ended up putting his money in to more time proven growth sectors that have shown to be better suited to his needs. Not as sexy or trendy, but having money later in life is usually the goal. Quote Link to comment Share on other sites More sharing options...
Foxer Posted October 12, 2018 Share Posted October 12, 2018 (edited) 15 hours ago, NYLIBUD said: So I've been doing some research on where to invest some of my money that was left for me by my aunt who recently passed away.I met with a great broker who said that marijuana,now that it has been leagalized in some states,and anything involved in it,(E.g.medical industry,)will be the next big money maker.So I went for it.Now I have to keep my fingers crossed.??.Oh by the way,I don't smoke the stuff,LoL. You're in the wrong state to invest, I think, ehhe. NY seems to be lagging on the MM issue. Try coming across the state lines where we're about to open the first shops for anyone. It's probably a bad idea unless your Aunt left millions. Estimates are like 5 million to open a shop and maybe a year or two going thru the process. ... just my guesses from watching it all here in MA. No one in any other business would go through so much hassle to start something! Edited October 12, 2018 by Foxer Quote Link to comment Share on other sites More sharing options...
NYLIBUD Posted October 15, 2018 Author Share Posted October 15, 2018 Well according to my broker,I'm already making money on my "bud" stock.I invested into two different companies.Yee ha.. Quote Link to comment Share on other sites More sharing options...
Renegade Posted October 15, 2018 Share Posted October 15, 2018 Be sure to check on diet weed. Listed as bud light. Quote Link to comment Share on other sites More sharing options...
NYLIBUD Posted October 15, 2018 Author Share Posted October 15, 2018 (edited) 1 hour ago, Renegade said: Be sure to check on diet weed. Listed as bud light. .Gotta admit,that is funny....Ah I'm pretty sure I'am gonna lose my pants in this particular new stock.I mean the companies are probably run by complete pot heads.Its the first time I worked with a broker,so yea it's all Chinese to me??? Edited October 15, 2018 by NYLIBUD Quote Link to comment Share on other sites More sharing options...
89AKurt Posted October 16, 2018 Share Posted October 16, 2018 On 10/11/2018 at 7:05 PM, Dave Ambrose said: You want to invest in the bakery next to the dispensary. We had some controversy here when an enterprising Girl Scout set up a table near a dispensary. I remember seeing that. It's so bizarre to me, to see ads for investing in pot stocks on business news sources.. Until the Federal government lifts the ban, it's still a risk. Knowing banks are not willing to deal with pot shops (there is a pun in there) they have to use only cash, which makes me wonder how long dishonest companies will get away with ripping off investors. Quote Link to comment Share on other sites More sharing options...
Joe Handley Posted October 16, 2018 Share Posted October 16, 2018 Some years back I had a customef at the HTU I worked for say that he told his son that if he wanted to have a solid career that paid well, he needed to get into the distribution side of alcohol. His reasoning, when thd economy is good, people drink to have a good time, when the economy is down, they drink to forget their problems, so money is always coming in. That said, it won't be much coming from my family, none of us really drink Quote Link to comment Share on other sites More sharing options...
iamsuperdan Posted October 16, 2018 Share Posted October 16, 2018 Weed officially becomes legal here in Canada tomorrow. Medicinal weed has been legal for almost 20 years now, but recreational weed is now being legalized. I could not be more disinterested in a subject than I am about this.. Quote Link to comment Share on other sites More sharing options...
NYLIBUD Posted October 16, 2018 Author Share Posted October 16, 2018 1 hour ago, iamsuperdan said: Weed officially becomes legal here in Canada tomorrow. Medicinal weed has been legal for almost 20 years now, but recreational weed is now being legalized. I could not be more disinterested in a subject than I am about this.. Happy 420.And the Feds should worry about much more important issues that our country is dealing with in this present time. Quote Link to comment Share on other sites More sharing options...
JollySipper Posted October 16, 2018 Share Posted October 16, 2018 They need to make it available to folks everywhere...... It could be helping so many people! and there's ways to police it and make money from it..... Quote Link to comment Share on other sites More sharing options...
NYLIBUD Posted October 17, 2018 Author Share Posted October 17, 2018 9 hours ago, JollySipper said: They need to make it available to folks everywhere...... It could be helping so many people! and there's ways to police it and make money from it..... Absolutely. Quote Link to comment Share on other sites More sharing options...
iamsuperdan Posted October 18, 2018 Share Posted October 18, 2018 Well, since 10am this morning, it's been legal here. The local news outlets were reporting from the dispensaries. People literally starting lining up last night. Spent hours in line before the stores opened, and hours after. This of course plays in to the stereotype that pot smokers are unemployed. I was confused though. I assume that most of these people were not brand new users. So why line up for hours to get something you have already been using and have obviously been able to source? And really...why line up at all? Just order in online. Overnight delivery. I've leased about a dozen vans to a company that does the online sales. Been top the warehouse. Security is absolutely mental. Way more secure than a bank. Yet the vans are just white Promaster cargo vans. Quote Link to comment Share on other sites More sharing options...
Little Timmy Posted October 18, 2018 Share Posted October 18, 2018 I just read through this thread ...... Why do I have the "Munchie's" ??? Quote Link to comment Share on other sites More sharing options...
espo Posted October 18, 2018 Share Posted October 18, 2018 Without knowing for sure, the lines may have been ex "heads" that hadn't inhaled in years and now that it's legal they're thinking why not. Quote Link to comment Share on other sites More sharing options...
NYLIBUD Posted October 19, 2018 Author Share Posted October 19, 2018 So I guess there enjoying themselves in the Great White North up there.Everything,recreational,medical etc. is now legal in Canada??Thats wild.I don't know,my broker did sone more research into new companies that are out there making a lot of money in Canada.I don't just mean dispensaries/store fronts.I'm talking about all the other parts of this industry.I guess I'll see what he comes up with. Quote Link to comment Share on other sites More sharing options...
Joe Handley Posted October 20, 2018 Share Posted October 20, 2018 I did see that there had been a DUI within an hour of weed becoming legal, the country treating it like alcohol in those respects. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.