Ronnie wrote:
So after reading this thread and seeing the stocks everyone invested in. I am trying to get my son into investing his money into these stocks such as Canopy, Aurora, Cronos and maybe more?
Of course being in his 20’s he could care less but was intrigued by investing in weed stocks.
Any advice for me to give to him on what else/how much of each to invest ? I myself do not invest and don’t plan to yet, but if I could go back to his age I would invest. This is a long term investment as I don’t see this being a quick buy and sell.
Honestly he’s better off with a self managed ETF strategy. Check out canadiancouchpotato.com and have him listen to the podcasts to understand everything.
Also tony robbins’ book Unshakeable is an excellent motivator for retirement planning. If you start in your 20’s, you’re laughing.
Weed stocks are SUPER volatile and pretty risky. It’s still not legal, remember. I would figure out what he can afford to invest and dump 90% in a balanced ETF portfolio and 10% in WEED/HMMJ.