We are pleased to share that we successfully launched our long-short Wellness strategy in mid-November 2017. We did so during a mini-frenzy following news that Constellation Brands had taken a stake in Canopy Growth, Inc., one of the Canadian licensed producers. While several portfolio companies had already rallied 50-100% this year prior to our launch, we continue to believe we’re in the early stages of a secular bull market in cannabinoid-wellness.Read More
I was first drawn to the cannabis space in 2012, when I called it my single best investment theme for the next decade.
I was early, but I was also wrong. I had pointed to the pragmatic foundation behind the eventual legalization—job growth, tax revenue, crime rates and prison population—but it wasn’t until a few years later when I realized those weren’t the catalysts; they were the residuals.Read More