The euphoric way people in the cannabis industry talk about this being the biggest growth opportunity of our lifetime leads many to believe these insiders are using a little too much of their own product.
But a series of recent developments has given the industry more credibility as an investment opportunity.
In October, Canada became the second country to legalize recreational marijuana. Since then, radical changes in the U.S. government including the legalization of hemp, investments from tobacco and alcohol companies, more countries legalizing pot and presidential candidates talking about legalization have given the industry a big lift.
The first cannabis/marijuana pure-play exchange traded fund is the ETFMG Alternative Harvest ETF (MJ). It holds 36 cannabis-related companies including Tilray (TLRY), the best performing stock of 2018. This major supplier of medical marijuana makes up 7% of the portfolio.