I bought some WEED today.  WEED is the stock ticker on the TSX for Canopy Growth.  My posts typically do not contain specifics about investments, so this is a bit of a change for me, in more ways than one.

Excitement Reigns

I have long been a believer that marijuana should be a freely available recreation drug with no more restrictions on it’s access or use than those for alchohol.

It is certainly a robust debate as to whether alchohol or marijuana is more harmful.  I believe there are strong arguments on both sides.  Regardless I eagerly look froward to the upcoming legalization.

This is not a desire for personal use but rather more about economics and criminality.

For me it is a no brainer to take  the obscene profits from selling this drug from the hands of criminals and put them in the hands of government (although some would argue it’s the same thing)

Growing up, many musicians that I admired were sent to jail, and given criminal records, for nothing worse than smoking marijuana.  To a large extent this was more a warning to their youthful followers than anything else.

Extending my Stock Purchase Guidelines

As regular readers know my investment advice is:

– never buy anything you don’t fully understand (i.e., the product, operations and markets)

– diversify to mitigate risk

– analyze the undelying value before buying

Marijuana stock meets the first two criteria.  Given it is not yet legal and only speculation as the underlying value within the producing companies, this is not a normal purchase for me.

Which brings me to my biggest no-no, investing in something because it feels good.  In this case, for me it feels good and rarely (not often) what the heck, go for enjoyment. (insert sucking inhale noise here).