WellPlayed
Well-known member
Jeff Sessions is really putting the boots to my TFSA right now.
Hey Nerds: Blockchain
- Thread starter zeke
- Start date
WellPlayed
Well-known member
Ya I actually loaded up a bit on the dump, but not as early as I would have liked to due to some technical difficulties - missed the bottom, but still, looking good.
MindzEye
Wayward Ditch Pig
The swing in my net worth today has my stomache turning. Such is life when you invest in an industry that is technically illegal still though.
**** that kiebler elf **** though.
MindzEye
Wayward Ditch Pig
TD customer eh? I've heard that your platform has sucked dick this week
CH1
The Artist Formerly Known as chiggins.
I was stuck in a dentist chair, so couldn't exploit the Session dip. Oh well, 2018 is only 3 trading days old and my accounts are already up 15%. That's a good year for most.
MindzEye
Wayward Ditch Pig
+1
I woke up to a pile of text messages and took a look at share prices, nearly shit myself and then did a little reset. Prices were at this level 3 weeks ago and I felt pretty good about myself. In the end this is just going to be discount shopping for people in a cash position. Anyone who bought into the storm of panic selling is already up 10-15% on the day or more. Like you said, that's a solid year for most people.
CH1
The Artist Formerly Known as chiggins.
I actually don't mind Session's ridiculous stance -- it's the proverbial wall of worry that cannabis markets have to climb. The volatility gives you a chance to trade around your positions.
CH1
The Artist Formerly Known as chiggins.
PITTSBURGH (KDKA) — With a sharply worded letter, PA Governor Tom Wolf warned U.S. Attorney General Jeff Sessions to stay out of Pennsylvania when it comes to criminalizing medical marijuana.
In his letter, Wolf warned Sessions, “If you seek to further disrupt our ability to establish a legal way to deliver relief of medical marijuana to our citizens, I will ask the attorney general of Pennsylvania to take legal action to protect our residents and state sovereignty.”
In his letter, Wolf warned Sessions, “If you seek to further disrupt our ability to establish a legal way to deliver relief of medical marijuana to our citizens, I will ask the attorney general of Pennsylvania to take legal action to protect our residents and state sovereignty.”
MindzEye
Wayward Ditch Pig
Or just continue to stifle his efforts through sessions budget. There are a couple of reasons why he's pushed the heavy lifting down onto state AGs.
Bleedsblue&white
Well-known member
I wonder how many drinks that ****er has while he's celebrating his *******-ness.
How much do you all have in weed stocks? I just dipped into HMMJ. Looking to put about 5% of my entire investments into it as my "fun money" portion. Kind of shitting bricks at the volatility of it - I have an aggressive portfolio as is but this shit is next level scary. Need to get my head straight before I dip more in. I'm just concerned that I'm late to the party here and this will blow up in my face.
MindzEye
Wayward Ditch Pig
Pretty close to my entire portfolio at the moment. I'm willing to ride the crazy swings in value, long term I don't think there's an investment anything like it. The ride is absolutely a bit bumpy though.
You're probably not going to get hurt in HMMJ, they're weighted heavily to the big boys. When you look at the entire basket though, there's a lot of horseshit companies in there imo.
I'd use them as a stepping stone to get into and learn the market a bit though. I think you could build a portfolio weighted similarly to HMMJ, but with superior companies in the middle and bottom end of it.
You might, might be late to the party for the Canadian market. But Cali, Germany, Australia, and various US states as they go legal? Nah, this is just the beginning. For those with the risk tolerance to invest in the US and wait for what looks like inevitable federal legalization (seems to be a matter of when, not if), there's the potential for strong performance.
Yeah I feel like the volatility of the US market in particular would be way too volatile for my stomach. I was up about about 16% last year with my regular index funds in a fairly healthily sized portfolio. I'm going quite aggressive with it with 8% bonds so I'm willing to risk 40% in a down year. Having an entire portfolio of weed stocks though would be bad for my health I think. I'd like to limit it to my "fun money" at 5-8% of my portfolio at most. That volatility/risk game is not for everyone. Credit to you for having the stomach for it. I just feel like my mood would be wrecked in a down day, week, or year. I'm in way too good financial shape to risk it and going with a passive index fund investment strategy will allow me to live comfortably no matter how much income I'm making per year moving forward.
MindzEye
Wayward Ditch Pig
Agreed. I made the conscious decision to live with the volatility. I basically had 2 choices, work until I was 60 like everyone else or take a shot. I'm taking a shot and it's paying off at the moment (currently up ~600% in the last 8 months)
Holy shit that's amazing.
Yeah I'm pretty well on track to retire in my 50's if I keep up bare minimum contributions to my TFSA every year so I feel like I'd be risking too much. But then there's another gambling side of me that is like... You can retire in your 30s if you hit big ya dummy. But no.. my quality of life when gambling a shit ton suffers tremendously so it's not really worth it.
I have to admit though, stories like yours is what got me into the weed index fund game in the first place. I'm not going to get rich from it, but who knows, it may very well double in value like it did in December once legalization kicks in, and I'll be laughing. I'd imagine volatility would decrease afterwards and I can just hang on for the ride. if my decision to get into the game allows me to retire 1-3 years early then hey it's worth it. It may very well do the opposite but that's a risk worth taking for me.
MindzEye
Wayward Ditch Pig
I think the play at this point is the emerging MJ markets for those with the stomache to get in on the ground floor and ride a good management group to the finish line. In Canada, you're not going to find another CGC, APH, ACB, etc at cheap valuations. Which isn't to say that there aren't opportunities to make stupid gains (MJN, HVST, RTI imo), just that there are no cheap segment leaders anymore. The US intrigues the shit out of me though. Each individual state operates like a little island until federal legalization occurs (and I really do believe we've reached a tipping point in public opinion and political will to get this done) so it shields small operators from just getting bought and absorbed by bigger entrenched players in the game (big alcohol/pharma/tobacco). Gives them the opportunity to do a lot of growth in an artificially walled off business environment. Each state that goes legal (medicinal or rec) gives the same opportunity, where they can all generate multiple bag winners in a petri dish business environment. If you're just throwing your play money at MJ, it's the best potential bang for your buck imo. HMMJ is heavily weighted towards companies that have already had 1000% gains or better over the last 24 months.
We know the product has huge demand, we know that economies of scale play out extremely well when it comes to industrial sized grow ops and we know that the barriers to entry aren't prohibitive. Canada has laid the blueprint. I can't think of another opportunity like this where a known commodity that has a 12 figure international market place is slowly trickling from illicit to legitimate, jurisdiction by jurisdiction.