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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?"
About the Author
Tim Melvin is an unlikely investment expert by any measure. Raised in the "projects" of Baltimore by a single mother, he never attended college and started out as a door-to-door vacuum salesman. But he knew the real money was in the stock market, so he set sights on investing - and by sheer force of determination, he eventually became a financial advisor to millionaires. Today, after 30 years of managing money for some of the wealthiest people in the world, he draws on his experience to help investors find "unreasonably good" bargain stocks, multiply profits, and build their nest eggs. Tim tirelessly works to find overlooked "hidden gems" in the stock market, drawing on the research of legendary investors like Benjamin Graham, Walter Schloss, and Marty Whitman. He has written and lectured extensively on the markets, with work appearing on Benzinga, Real Money, Daily Speculations, and more. He has published several books in the "Little Book of" Investment Series and a "Junior Chamber Course" geared towards young adults that teaches Graham's principles and techniques to a new generation of investors. Today, he serves as the Special Situations Strategist at Money Morning and the editor of "Max Wealth" and Heatseekers.