Starting around 1913 or so, world governments were gripped with a kind of mania to ban cannabis. Jamaica, Mexico, South Africa, Canada… and on and on.
In 1925, the League of Nations revised the International Opium Convention to target the global trade in cannabis for the first time.
And in 1937, the United States' Marijuana Tax Act of 1937 effectively banned cannabis at the federal level here.
So in America alone, we've had more than 80 years of prohibition.
But there's a big world of cannabis investing out there; globally, even in countries that have had prohibition just as long as we have, things are moving fast.
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.