Seeing reactions over the discussion paper of the Cannabis Administration and Opportunity Act (CAOA) reminded both Blue and myself of the core of good analysis: an open mind.
If a given set of circumstances change, then one needs to re-evaluate one’s outlook. Doesn’t sound like much, but our brains can sometimes be our own worst enemy. We’re emotional creatures after all, and can be influenced by desire – and we can end up making irrational judgements.
Hey – I sure as hell ain’t immune. Neither is Blue. But as professionals, we try our best to know what we don’t, and to make sure our heads aren’t snake-charming ourselves into something that should – from a distance – be obvious.
We’ll be providing greater detail on the CAOA over the next while. I believe the market is going to take a bit of time (1-2 weeks) to digest this, and ultimately trade somewhat downward. The enthusiasm and religion peddled by sell-side might keep it moving sideways. I believe an upward movement is very unlikely. I can’t tell the future.
There you go. And I know a couple of folks who were holding for such a catalyst, and now they aren’t. If things change, so should your investing thesis.
I’m not suggesting you do anything, only pointing out that these specific folks adjusted to new information when it came out. And hey – Booker might have a change of heart – politics is politics after all.
What I have also heard is that of the 10 GOP needed to get this thing through is that they are staunchly against social justice initiatives. And that there’s Democrats who won’t budge unless they’re specifically included. That this is the nexus of where achieving bipartisan support exists (for the moment).
It’s going to be a fluid and dynamic period over the next 6-9 months. And if nothing else, the political process will bring a ton of potential change during that period with it.
One has to be confident in their view. And willing to change if circumstances do as well.
The preceding is the opinion of the author, and is in no way intended to be a recommendation to buy or sell any security or derivative
Ads Blocker Detected!!!
We have detected that you are using extensions to block ads. Please support us by disabling your ad blocker.