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Stocks are caught up in a storm of fear right now, although that may be abating somewhat. But plenty of otherwise great companies with little to nothing to do with the trade wars are getting caught up in the selling.
Pot stocks are a great example. The truth is cannabis companies aren't really exposed to global trade conflicts, but they've been sliding along with most other shares.
Nevertheless, even knowing the facts – that the marijuana firms we're buying are fundamentally sound – I know times like these make it difficult to hang tough and be patient.
After all, as the events of this week prove, things are unfolding in the cannabis market exactly as they should…
… particularly on the legalization front.
The announcement that Illinois – the sixth-most populous state in the Union – has taken cannabis fully legal should come as no surprise to us. But it's still a huge development for the cause of legalization – and, for our purposes here, the quality cannabis stocks we own.
Let me tell you what it's all about…
About the Author
Greg Miller started working on Wall Street in September, 1987, just a month before the “Black Monday” stock market crash.
During his career there, he became an expert in just about every kind of publicly traded security - from blue-chip and small-cap stocks to municipals, junk bonds, and derivatives. As a portfolio manager, Greg was responsible for over $500 million of assets in mutual funds and insurance company accounts.
After leaving the Street, he designed a successful options trading strategy and made lucrative tech investments for a financial publication. He has also helped develop new products and worked with other editors to hone their strategies. He’s always been dedicated to deep, fundamental research - and he always will be - because he believes buying the very best companies at the right price is the best way to amass wealth in the stock market.
Tags: Stocks