“The economy needs to heat up… Let’s get smoking!”— Warren Ingram, Galileo Capital
South Africa is the latest among a rapidly growing list of countries that have decriminalised the consumption and cultivation of dagga.
For now, legalisation only pertains to personal use.
Not so in Canada and some states in the US that have totally legalised and commercialised dagga.
Ingram – not known for leaving a dollar on the table – embraced South Africa’s liberal attitude toward dagga with enthusiasm.
Where in the world can you find value and exciting opportunities at a time when everyone seems really afraid and negative everywhere?
There are quite a few companies that are listed in the US and Canada… that trade and deal with the broader cannabis industry… There’s even an Exchange Traded Fund listed in the US.— Warren Ingram, Galileo Capital
The Exchange Traded Fund (ETF) he referred to is the Alternative Harvest Exchange Traded Fund.
It is made up of 10 listed dagga companies.
It’s up 31% in last 12 months.
Is this another cryptocurrency-like bubble?
Nope, not in the least, said Ingram.
It’s a consumer-driven business with real product going through real shops bought by real people with real income and expenses and, at the end of it, real profits.— Warren Ingram, Galileo Capital
Even Coca Cola is looking at this market!— Warren Ingram, Galileo Capital
Ingram discussed another listed dagga company “Canopy Growth Corporation” which has investors such as “Constellation Brands” – owner of Corona beer.
It has gone up 496% in the last 12 months.
Canopy Growth Corporation is also a constituent of the Alternative Harvest ETF, making up 10.11% of the fund.
How to invest
Ingram suggests investing in one of the US or Canadian listed companies through an ETF such as the one mentioned above.
This way your investments are spread amongst many different companies, negating the risk of having “too many buds in one basket”.
Don’t buy the share that’s gone up 496%...— Warren Ingram, Galileo Capital
Other Canadian and US-listed companies you may want to check out:
For more detail; listen to the interview in the audio below.
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