Author Topic: Smokin' Stock Returns  (Read 4016 times)

smedleyb

  • Bristles
  • ***
  • Posts: 434
Smokin' Stock Returns
« on: December 05, 2012, 06:24:30 PM »
Literally:

http://marijuanastocks.com/

I tried purchasing a pink sheet marijuana stock a couple of days ago, but TD Ameritrade rejected my order.  I'm not sure why, and I will call tomorrow to get to the bottom of this.

This is a highly speculative field, but the rewards going forward (given the trends toward legalization) promise to be immense.  Since a "dope" fund does not exist, I plan on creating my own over the next several weeks with a basket of 4 or 5 stocks mentioned in the link above.

Thoughts?


grantmeaname

  • Magnum Stache
  • ******
  • Posts: 4828
  • Age: 27
  • Location: NYC
  • Cast me away from yesterday's things
Re: Smokin' Stock Returns
« Reply #1 on: December 05, 2012, 06:46:29 PM »
You could do a smoke-themed fund instead of just a dope fund. US Steel, Phillip Morris, KC Masterpiece, and coal companies.

Just don't be surprised if your capital goes up in ... companies! (Do you see what I did there? There was a twist at the end!)

iamlindoro

  • Handlebar Stache
  • *****
  • Posts: 1520
    • The Earth Awaits
Re: Smokin' Stock Returns
« Reply #2 on: December 05, 2012, 06:49:54 PM »
I admit the fact that an investment here can be had for a pittance, and the agreed inevitability of legalization definitely makes it tempting.  I do have some discomfort in owning them on a personal level (for the same reasons I prefer not to own Altria/Philip Morris).  I don't think I'd want to do more than dabble.  I'd be interested in what your research brings up as the most viable candidates to successfully transition from small operations to widespread business.

iamlindoro

  • Handlebar Stache
  • *****
  • Posts: 1520
    • The Earth Awaits
Re: Smokin' Stock Returns
« Reply #3 on: December 05, 2012, 06:52:16 PM »
You could do a smoke-themed fund instead of just a dope fund. US Steel, Phillip Morris, KC Masterpiece, and coal companies.

Just don't be surprised if your capital goes up in ... companies! (Do you see what I did there? There was a twist at the end!)

So you're saying this is a field that is likely to grow like a... young child?

(Edit:  I guess you're not saying that, but I couldn't help but pun ;)  )
« Last Edit: December 05, 2012, 06:58:14 PM by iamlindoro »

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 28058
  • Age: -999
  • Location: Seattle, WA
Re: Smokin' Stock Returns
« Reply #4 on: December 05, 2012, 06:57:50 PM »
I feel like there are just too many national issues and states that won't adopt, that we're at least a decade or two away from full legalization, and these companies will be fairly stagnant for quite awhile.

But I honestly don't know, my crystal ball is broken.  My gut says to wait on this, though it is an interesting idea.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

grantmeaname

  • Magnum Stache
  • ******
  • Posts: 4828
  • Age: 27
  • Location: NYC
  • Cast me away from yesterday's things
Re: Smokin' Stock Returns
« Reply #5 on: December 05, 2012, 06:59:22 PM »
But I honestly don't know, my crystal ball is broken.
It works even less than normal crystal balls?

iamlindoro

  • Handlebar Stache
  • *****
  • Posts: 1520
    • The Earth Awaits
Re: Smokin' Stock Returns
« Reply #6 on: December 05, 2012, 07:05:46 PM »
I tried purchasing a pink sheet marijuana stock a couple of days ago, but TD Ameritrade rejected my order.  I'm not sure why, and I will call tomorrow to get to the bottom of this.

Interestingly, Vanguard also notifies that you need to call them on MJNA and GRNH.

smedleyb

  • Bristles
  • ***
  • Posts: 434
Re: Smokin' Stock Returns
« Reply #7 on: December 05, 2012, 07:11:06 PM »
I feel like there are just too many national issues and states that won't adopt, that we're at least a decade or two away from full legalization, and these companies will be fairly stagnant for quite awhile.

But I honestly don't know, my crystal ball is broken.  My gut says to wait on this, though it is an interesting idea.

Ah yes, the wait and see approach.  But prices could rise in the interim. 

Buy high, but sell higher? 

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 28058
  • Age: -999
  • Location: Seattle, WA
Re: Smokin' Stock Returns
« Reply #8 on: December 05, 2012, 07:39:41 PM »
Ah yes, the wait and see approach.  But prices could rise in the interim. 

Buy high, but sell higher?

More of a "I don't know, and wouldn't invest that way anyways based on my investment philosophy."

I still have predictions about the future (such as my Facebook predictions), I just don't invest based on them.

Or, you know, the trend is your friend.  ;)
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.