As the song goes, "You can't always get what you want."
This applies well to the recent announcement of plans for full legalization of adult marijuana use in Canada. During that April 13 event, the Trudeau government said all will be in place by July 1, 2018.
But there was a "problem" – at least according to some legalization advocates and analysts.
Instead of laying everything out precisely, legalization in Canada is still evolving. For instance, individual Canadian provinces will have a lot of say about where and when marijuana can be sold, how old buyers can be, and taxation.
So there is much more work to do than was hinted by the government when it leaked preliminary legalization details back on March 27.
And out come the hand-wringers – fretting that legalization will be delayed or… maybe… never even happen.
Don't join these worrywarts.
Nothing here shatters the lucrative reality that double-, triple, or even quadruple-digit gains are on the way for the five stocks I included my latest report – How to Make a Fast Fortune on Canada's Upcoming Total Legalization of Marijuana.
In fact, there are four reasons why you don't need to lose sleep.
According to the plans unveiled on April 23, Canadian adults will be able to buy and possess up 30 grams of marijuana and pursue limited home growing by next summer. And that will make Canada the first large, industrialized nation to fully legalize and regulate weed.
Not even the Netherlands can make that claim.
But like I said, there is some criticism out there from legal cannabis advocates.
Folks seemed to be expecting near-finalized details during last Thursday's announcement – but legalization in Canada is still evolving.
You see, the individual Canadian provinces will have a lot of say about where and when marijuana can be sold, how old buyers can be (the new law says 18, but provinces can alter the age restriction), and the taxation rate.
Again, this is all normal in a large, bureaucratic nation like Canada. These things take time.
But before you plan to spend the next year up all night, take a look at these four reasons you can sleep peacefully…
Reason No. 1: Prime Minister Justin Trudeau Won Over Adult Voters with Weed
Just Trudeau won Canada's 2015 federal election on the strength of a couple of issues. Perhaps none was more prominent on the campaign trail than promises of full legalization.
The platform gave Trudeau a chance to win over medical users and loved ones who see them suffering less because of cannabis-based medicines. It also won points with parents and law enforcement because he continually emphasized that regulating marijuana would keep it out of the hands of kids and away from criminal enterprise.
There's also the "wink," as I'm calling it…
Trudeau is a smart, slick-talking politician. He doesn't have to say it out loud, but he knows that fiscal moderates and conservatives see a potential windfall here.
But he needs this phase-in to go smoothly off the bat.
Think about it.
Some of the cannabis advocates who voted for him are now freaking out simply because it's taking "too long" to get to this point.
But Canada is bent on "doing this right." Those are Trudeau's own words.
Frankly, that's what I want to hear as an investor who believes in marijuana as a long-term play that will produce profits.
Reason No. 2: Legal Cannabis Will Be the Base of a New, Needed Economy
Think about the U.S. rust belt for a moment. Places like Cleveland, West Virginia, Western Pennsylvania, and Detroit were once thriving centers of industry.
Then much of the manufacturing went away.
The plants, the auto lines, the mills, the mines… they're largely gone.
The landscape bears the scars of low opportunity and little hope.
There are places in Canada, notably New Brunswick, that have suffered similarly.
The province on Canada's eastern edge is now home to many under- and unemployed blue-collar workers. Automation and outsourcing mean that bringing back jobs is unlikely.
Premier Brian Gallant (akin to a governor) has been promoting marijuana as a potentially huge economic engine. And New Brunswickers are buying in.
The sense of urgency in Gallant's comments tell me he subscribes to the "first-mover advantage" I wrote about in my original Roadmap to Marijuana Millions for Nova-X Report subscribers last September.
It's been shown time and time again that the first entities to establish a strong base of business in a young and fast-growing market can reap major benefits.
New Brunswick is itching to go all-in here and will embrace this brand-new market.
Reason No. 3: It's Already Working
There are 41 licensed marijuana operations already serving Canada's medical marijuana market, which is a small fraction of what the market will be come next summer.
These businesses are employing Canadians, contributing to tax buckets, and staying away from controversies or bad press.
Let's look at Ontario as prime example…
- No Canadian province has a greater share of the existing licensed growers (24).
- Premier Kathleen Wynne has given tentative support to selling regulated marijuana at liquor stores.
- On the very top of her "to-do" list for incoming Ontario Attorney General Yasir Naqvi in September is a directive to lead the "development of regulatory framework."
- Three of my original six Canadian pot stock picks from last September are based here. The worst-performing stock of the bunch is up 40%. The best gained nearly 250% at its peak.
Legal weed is a priority in Ontario. It's right there in black and white.
Reason No. 4: Opponents Lack the Political Capital to Stop the Pro-Weed Stampede
While we're constantly seeing rising support of legalized marijuana, some weed skeptics remain.
Many who fit this bill are in the most rural parts of Canada. These are places that don't really impact our model portfolio stocks, though.
However, there is one important marijuana skeptic up north.
I'm talking about British Columbia Premier Christy Clark.
Clark has been either quiet or skeptical regarding full legalization.
But I'm not worried.
You see, attempting to slow down the growth or sale of cannabis in BC could amount to career suicide – because…
- Marijuana has been part of the culture of British Columbia since the 1960s.
- BC boasts 15 licensed medical marijuana producers that are already operating responsibly and successfully. They'll be able to ramp up quickly once recreational cannabis is legalized.
- She's a member of the Liberal Party. At the top of that organization is Trudeau, who happens to be one of the most popular politicians on Earth right now. This is not an easily winnable fight for Clark.
- The leader of the rival New Democratic Party is putting on the pressure on Clark and her underlings. That party's leader, John Horgan, has met with policymakers in the states of Oregon and Washington to learn best practices and pitfalls to avoid during the legalization process.
There's simply too much momentum here, even if Clark is unenthusiastic. Mild foot-dragging aside, there are no realistic long-term obstacles she can put up.
There you have it: four reasons there's very little that can stop this once-in-a-generation profit wave.
Sure, pot stock investors wanted all the Canadian legalization details wrapped up with a tidy bow a week ago.
But the only thing that truly matters in boosting the meteoric potential of our Canadian marijuana investments is the confirmation, without fear of a political 180, that Trudeau and his party are committed to following through on his legalization promise.
"If you try sometimes, you just my find… you get what you need."
We absolutely did last week.
And it will continue to produce profits for years to come.
If you did miss out on your chance to find out about my five favorite Canadian marijuana stocks last week, I'm keeping that opportunity open a little longer.
To find out how to get ahold of those – via my How to Make a Fast Fortune on Canada's Upcoming Total Legalization of Marijuana report – all you have to do is click here.
Have a great weekend.
I'll see you back here soon.
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.