My team and I are here in Oakland, Calif. – and the Golden State Warriors clinching the NBA Championship Monday night isn't the only big news.
Vicente Fox, former president of Mexico, is getting ready to take the stage at the Fourth Annual Cannabis Business Summit & Expo – the epicenter of the business, technology, and politics of legal marijuana.
And there's a palpable buzz in the air.
But lucky for you folks, Fox has already debriefed with a small group of us before his scheduled remarks…
"A Crazy Person"
Fox is turning up the heat on the U.S. government over its ongoing federal prohibition of marijuana, even as its two most important trading partners – Canada and Mexico – move toward nationwide legalization.
When asked for his reaction to breaking news that U.S. Attorney General Jeff Sessions asked permission from Congress in May to punish medical marijuana companies, his response was to call him "a crazy person."
(Congress has made zero movement to honor this, by the way.)
After all, at least two high-level cabinet members have in recent weeks come out in support of medical marijuana. President Donald Trump himself has said he is encouraged by what medical marijuana is doing for seniors and veterans.
"The problem is there is no consistency," Fox said on the messaging coming from various corners of the U.S. government.
Though there are many marijuana business conferences now, this one is among the largest – and Oakland is a fitting setting for it.
You see, the legal marijuana business literally rebuilt a large chunk of downtown Oakland, National Cannabis Industry Association Executive Director Aaron Smith says.
"It helped bring businesses," Smith says. "It helped rebuild things like the Roxie Theatre. It has participated in the neighborhood."
And Oakland is far from the only municipality to have received an economic booster shot from legal marijuana.
It all goes to show how a well-regulated cannabis industry brings huge economic opportunities and pushes out criminal elements.
It also enriches its investors – folks like you.
That's why we'll be here for the next 48 hours, checking out the Expo floor and talking to the industry's most important stakeholders. In our first walkthrough, it was obvious that technology – from lighting firms to security providers to biotech companies – has taken this conference over in a big way.
And that's a good thing for long-term industry growth – and our legal marijuana investments.
In the next few days, I'll be talking more about Fox's appearance – and all the other valuable information I can dig up – with my Nova X-Report members.
To join us – to get the inside scoop on what's coming next for the marijuana industry… and copy of The Roadmap to Marijuana Millions – just click here.
I'll be back here on Friday with a wrap-up report.
See you then.
The post Direct from the Epicent…
Join the conversation. Click here to jump to comments…
About the Author
Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.
Initially ,Money Morning promised GREAT gains ,by investing in Pot— so –where are those gains , because I am losing patience !
The Gurus are fooling the investors.
WEED is down 41 pct since 13 February 2017
ACB is down 36 pct since 10 april 2017
HEMP is down 55 pct since 19 Oct. 2016
APH is down 36 pct since 10 april 2017
So David is correct – hope for the best.
Many marijuana stocks have seen some decline in the last few months.
$OWCP is still up 252% since January 3rd — but if you go based on their 52-Week High (February 22nd), things look bad. So, depends on when you bought-in.
I'm VERY confident $OWCP is going to see tremendous gains in the coming months — starting any week when a couple of PRs come out.
I have lost my patience and my money.
The same here, all down…….
I have both of your Roadmap to Marijuana Millions books. I have invested in 16 of the stocks I read about in the books. So far I have lost money on all but 1 and that is a very small amount.
Any idea when this thing may break open and we start seeing some real gains?
I am a small investor and I've lost 1K so far but I intend to hang in I just hope it's sooner than later.
Im in the same bought. Bought in for the book, and all my stocks are tanking based on the recommendations.. REALLY hoping this turns around, but I am losing thousands…. Losing my patience as well. (Im fine with little dips, but not losing 3/4 of my portfolio !
I see I'm not alone. I've invested in 23 of suggestions. Have lost over $5,000. I also am hanging in there, we should see something happening July 1st. ( for Nevada) That's when all marijuana will be legal.
I agree with David as it is a common concern about the prices but it depends on what you paid for the stocks to start with. I have purchased more on the lows on some of these companies even before Nova X put out their first reports. You really have to sift the wheat out of the chaff. I have alerts in place, a detailed watch list, & my own spreadsheet that I follow very closely. Time is still the key as the gurus promise the riches now, but the systems may still take months to kick in because of the government regulations & controls. No one told us up front that this is a lengthy slow process. I do have faith that some, hopefully all will make money in the near future so hang in there.
i agree patients is the name of the game
usmj would be a good streaming company but they have a [cto] on them they have to put there paper work in for there name change to the canadian securities don,t know how i was able to get thm through the cto but i did and now can't move them