In this Market Update we discuss how we are right in the middle of a perfect storm of negativity and uncertainty: - How we got here (CannTrust > Recession Fears > Canopy Earnings > Vapegate) -  Why the Vape Issue is really a Black Market Problem - How Vaping should be solved and the unfortunate knee jerk reaction - Emergency Financing: Why Prices Dropped 20-30% in the last week - KushCo (KSHB) Raises $30M USD at a steep discount  - Ianthus (IAN) Raises $20M USD from Gotham Green on a 13% convertible note - What happened to Harvest's (HARV) $225M USD Debt Financing? (Torian Capital deal explained) - Data: How much have Vape Sales declined? Less than you might think... - How much of this is priced in already? Is this Sentiment or True Risk? - Closing: What Stocks Manish Sold and Why  - Selling: Medmen/CVSI/IAN/HARV/KHSB - Booking Tax Loss consideration ahead of others (risks and reward of this) - What to look for Going Forward (important of cash and cash flow)

We are back with a PACKED Market Update: 1) Breaking down the HISTORIC passage of the SAFE Banking Act (by the House) - How it happened and Why it matters - The road ahead (goes through the Senate) - Benefits of the SAFE Banking Act - Why Traditional Bank Financing would be a huge positive for US Cannabis companies 2) Exploring the Vaping Health Epidemic (is it really an epidemic?) - 350 cases with 8 deaths so  - How bad is this? How aware is the general public? - What's the cause? Vitamin E Acetate? The Black Market? - How much should investors care? Is this just a blip? - How simple and negative news can spread far and wide - Why Vaping is so important to Cannabis Companies - Massachusetts' 4 month ban on ALL vaping products (who's next?)  3) Pennsylvania and the Tri-State Area (NY/NJ/CT) Going Full Rec - 4 neighboring states all looking to go rec in short order - Why New York wants the other states to share the same rules - PA = 21M people; NY = 19.5M - All 4 States = 53M people (1.5x Canada!!) 4) CIBC says Canada Sales Estimates are WAY too High - $6.5B of 2020 Sales reduced to $2.2B (1/3rd of original) - $7.5B of 2021 Sales reduced to $3.3B (44% of original) - People online bashing CIBC over this. Are they right? - Are these numbers accurate? Let's compare to real numbers - What this means for the Canadian market - US sales vs Canadian sales Closing Thought: Long-term focus and being patient - This is a 3-5 year investment play!  - Don't get caught focusing on the ups and downs

In this episode Abi discusses his recent California trip and how complicated distribution in the Golden State is. We compare Canada to California and talk about the fragmentation of the market.

NOTE / WARNING - THIS EPISODE IS VERY OUTDATED.  Yes, even though it's not that old our views on this topic shift very quickly and there's some companies on here you should avoid There are several companies in this episode we no longer like including Harvest, Medmen, Ianthus and CV Sciences.  We're keeping this episode up but want to give you fair warning to be careful on cannabis investing information as it constantly changes!

The Medmen/Pharmacann acquisition passing DOJ regulatory hurdle is BIG news. Here's why: - What is the DOJ 2nd Request Process? - Why this is SO important to US Cannabis stocks? - Which MSOs will benefit from this announcement? - What this means going forward for US Weed Stocks? - Are investors fully appreciating how important this is? - How is the weed market performing since the August lows? - Which weed stocks will benefit from this? - Update on the Origin House trade

- Mapping out the supply chain from start to finish - How the supply chain varies in the US vs Canada - Why it's important for investors to understand the supply chain - Specialization vs Vertical Integration - LPs / Cultivators: Issues they will face going forward - Exraction / Processing: Why we are bullish for the future  - Distribution: Canada vs US - Retail & Dispensaries: Vegas vs Toronto

In this episode we cover investing basics: - What is an index (eg. TSX, Dow Jones, S&P 500)? - ETF: Basket of stocks typically reflecting a particular sector - Be careful with ETFs and HMMJ - Hedge Funds vs Mutual Funds - Actively Managed vs Passively Managed Funds - Management Expense Ratio (MER) - Price to Earnings (P/E) Ratio - Value vs Growth: Low P/E vs High P/E stocks - Picking a P/E multiplier - Why its so important - Trailing P/E vs Forward P/E - Defining EV and EBITDA - EV: Market Cap - Cash + Debt - EBITDA: Earnings before Interest, Tax, Depreciation & Amortization - EV / EBITDA Ratio - what it is and why it's important - EV/EBITDA vs P/E Ratios - taking debt into consideration

In This Episode: - "Creating Value is not enough..." - Peter Thiel - 4 Reasons Why A Good Product may do poorly as an investment - 1) Being out of favour with the capital markets / institutional capital - 2) The company can be overvalued, even if the prodcut is good - 3) Company Profit and Share Price don't always move together - 4) A weak and expanding Cap Table can cause issues - Relating cannabis companies to your favourite restaurant

In this episode: - What is FOMO and why does it matter - How Manish got FOMO from the Raptors Championship - Is FOMO Unique to Millennials? - Fear vs Greed: Which is more powerful? - Equities vs Fixed Income - Shifting investor mindset to longterm value - What we could learn from Bitcoin - Why Cannabis is different than Bitcoin - What happens when markets are moving up & moving down - Creating Systems which allow you to make good investing decisions

In this market update: - How's the Marijuana Stock Index doing? - Broad Strokes: What caused a heavy downturn - Starting with CannTrust non-compliance - US DOJ Anti-trust concerns delaying mergers - Fed rate cute; Broader market sell-off - Some good news from Medipharm, Cresco, Trulieve and general US progress - Are we heading into a recession? - How Canopy Growth headlines overshadowed everyone - Why Canopy didn't really lose $1.2B in one quarter - Why Manish is buying Village Farms (VFF) - How large Canadian LPs will compete globally - What companies to buy if we're heading into a recession - How would cannabis behave in a recession?

In this episode we debate buying your weed from a dispensary: here to last or just a fad? - The argument for why consumers will buy weed online instead of in person - Why dispensaries are important in capturing consumers - How dispensaries act as a bridge between black market and mainstream - Do people enjoy the dispensary retail experience? Will they continue to visit once the initial fad fades? - How important is the budtender? - Will consumers trust the dispensary? Or will they rely on online and word of mouth - Lessons learned from Planet13's location in Vegas - How dispensaries will be invaluable to cannabis brands

  Deepdive on Valuations: - Valuation = Earnings x Earnings Multiplier (AKA PE) - Choosing an Earnings Multiplier - Thinking about Risk - Risk in real estate vs in stocks - Risk free rate - Interest Rates are like gravity in the investing world - Why Abi looks at the cap table/valuation first - Using comparables to judge relative valuation - Valuations of Canadian Companies vs US Companies

In this Market Update: - Turmoil in the broader equity markets - US 10 year treasury hits 1.6% - why that matters - Flight to Safety (and out of Cannabis) - Are we heading into a recession? - Recessions vs Bear Markets - What does that mean for businesses and investors? - What does that mean for Cannabis Investing? - How Big Cannabis Players can dominate in a recession - Silver Lining: How Cannabis could outperform in a recession - Catch us at the Benzinga Conference in Detroit this week!

- The fundamentals of investing in Cannabis companies - Buying a company vs buying a stock - Evaluating a company's valuation; why Abi reads the Cap Table FIRST - Importance of patience and long term focus - Risks involved in venture investing - The art of a picking a winner Next episode: Buy companies not stocks

PACKED market update including: - Huge earnings from Aphria and why you should dig deeper into the revenue breakdown - Strategic investments from Couche-Tard & Imperial Brands (for Fire & Flower and Auxly) - Curaleaf's CVS deal gets pulled after FDA warning letter - Is Manish buying or selling Curaleaf? - More CannTrust drama - Beyond Meat raising $650M USD and why it matters - How Beyond Meat's business strategy relates to Cannabis Next episode: How to invest in weed stocks 101

Has the market bottomed? After a few brutal weeks we examine values in the market: - What caused this recent drop in prices? - What's the difference between a blip and a correction? - How CannTrust caused the entire market to fall irrationally  - What's next for CannTrust? - Are market values attractive at these numbers? - The strategy of buying companies around the problematic companies (like HomeTrust) - Managing cash for situations like these Market Update: - Curaleaf buys Grassroots for ~$875M USD deal - Neptune closes $41.5M USD raise - Flower withdraws a $125M offering (indicates investor hesitation) (this was later turned into a $43M bought deal) Activity: - What Manish has done during this downturn - The Origin House arbitrage opportunity