One of the masterminds behind “The Big Short” just revealed why he’s calling cannabis “The Big Long.” Here’s what that means for our investments…
Last week, legendary investor Danny Moses made an appearance on Fast Money, a financial stock trading talk show on CNBC.
If that name sounds familiar, it might be because you recognize him from The Big Short, which chronicles how Moses and a handful of others shorted the subprime mortgage market ahead of the 2008 global financial crisis.
Now, with shorting the housing markets as his claim to fame, it’s fair to ask why we at the National Institute for Cannabis Investors care about this appearance.
Well, you see, Moses appeared on Fast Money to talk about the cannabis industry.
And he wasn’t there to tell you which marijuana stocks to short.
In fact, Danny Moses is calling cannabis investing “The Big Long” – and he believes there’s more money to be made here than anyone made off the 2008 financial crisis.
Let me explain why you should listen to him, and why you will be just as excited as we are when you do…
A Voice Worth Hearing
Danny Moses may have gained his greatest notoriety from the ’08 crash, but his expertise has a far greater reach than the housing markets alone.
Moses began his career in 1991 as a municipal bond analyst for MBIA, working as an institutional broker at a number of firms, including Oppenheimer, a prestigious independent investment bank and financial services company.
But it was as a trader with Frontpoint Partners that he gained his greatest fame yet for foreseeing the impending financial crisis and shorting the subprime market.
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When an individual has such an uncanny ability to recognize trends and play them to his advantage, you are wise to listen to what he has to say.
Today, Moses serves on the investment committee of Merida Capital Partners, a private equity fund targeting the fundamental growth drivers of the cannabis industry, and he recently founded Moses Ventures, a multi-asset investment fund with a focus in cannabis.
So why is this financial expert targeting cannabis?
“The Big Long”
In his Fast Money appearance, Moses picked out a few key elements that make the cannabis industry an outstanding sector in which to “go long.” And when he got into it, he started talking in superlatives.
“I’ve never seen a sector have the political tailwinds, the economic tailwinds, and the wellness tailwinds that this sector potentially has,” he said.
And comparing the opportunity to the housing collapse, he pointed out that “shorts can only go to zero – longs can go to infinity.” In other words, the upside potential in cannabis is unlimited.
And with federal prohibition still in effect, Moses believes multistate operators present an interesting case: Banks do not lend money to companies in the industry because of their murky legal status, so these companies are not working on debt.
So, in Moses’s words, where the housing markets were under-regulated and over-leveraged before their collapse, the cannabis sector today is over-regulated and under-leveraged – and it’s ready to explode.
As we already know, that explosion is set to take place once banking services become available to cannabis companies – either through the STATES Act or another means.
And Danny Moses agrees. “If you were to get debt to come in,” he said, “the cost of capital would go down dramatically for these companies, and so I think that’s a really interesting play that people aren’t really focusing on right now.”
It might be true that a lot of people haven’t been focusing on that opportunity, but if you’ve been following along with us at the Institute, we know that you have.
Thank you for being an important member of the National Institute for Cannabis Investors,
Executive Director, National Institute for Cannabis Investors
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14 responses to “Legend of “The Big Short” Calls Cannabis “The Big Long””
February 21 2019