Time for a snap quiz. Without using Google or peeking, identify the public figure who made this statement:
Federal and state laws (should) be changed to no longer make it a crime to possess marijuana for private use.
Cue the theme from Jeopardy. Give up?
It was President Richard M. Nixon. Old “Tricky Dick” may have been a conservative Republican, but he occupied the White House from 1969 to 1974, a freewheeling era in American history. Prevailing cultural trends sometimes prompted him to embrace unlikely causes.
Fast-forward by roughly half a century, and today marijuana has transitioned from hippie rebellion to Wall Street darling. It’s still outlawed at the federal level in the U.S., but increasing numbers of states are legalizing pot for medicinal as well as recreational use.
Among all the industries I’m asked about by investors, “canna-business” consistently receives the most inquiries by far.
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