huge opportunity here in two parts. One huge opportunity, for lack of better words, is finding the unicorns that are really going to flourish once this becomes a federally legal business. The second huge opportunity is to trade them because you can plan ahead. California’s recreational-use law just went into effect in January 2018. A lot of people bought ahead of the news. But once we see how much money is actually generated in California, it’s going to be a boom for a lot of these companies. The companies that own dispensaries there. The ones that own the grow facilities there.
At the end of day, I like money. And we can make so much money in this industry from so many different angles. I went to graduate school in Colorado, had my first job, and started my first company there. When I moved there, they had just started to open up gambling in Central City in that area. And I remember getting money back from the government. I was like, “What the hell’s this?” They made so much money in taxing that we got money back. So Colorado was at the forefront of gambling. The same is true with cannabis. You now see gambling in every state basically. I think the same thing is going to happen with cannabis. As of late 2017, 29 states and D.C. have legalized medical cannabis. Seeing how much money’s going to be made will then encourage [the other] states and local municipalities to push for legalization. I think within five years, it will be legal federally. And all these companies that are sitting at a couple-hundred-million-dollar market cap will be several-billion-dollar companies, just like in Canada. Q: You said that over the last seven years, you watched the industry go from the WildWest to a little less wild. Do you see over-the-counter equities as being legitimate considerations for investors right now? Or is that still too wild? And if so, how do you separate which are the good ones and which aren’t? McCALL: So to go back to your original question, is there opportunity? I think there’s
Hank Blaustein | © 2016 Grant’s Interest Rate Observer. Used by permission. www.GrantsPub.com
American Consequences 45
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