#24 - Improve Your Game! 5 Lessons Learned in 2019 for Cannabis Investors
If you are not changing the way you invest going into 2020 you are in trouble!
In this end of the year episode we recap the top 5 lessons learned for Cannabis Investing.
#1 - No Excuses, Play Like A Champion
- Every investor is the CEO of their own account
- Take full responsibility for your own results and learn from your mistakes
- "It's not your fault but it is your problem"
#2 - LEARN LEARN LEARN & Pay Attention
- The importance of investing time and energy into learning this space
- Continually evolving your thinking in this fast moving environment
- Building a network of trustworthy investors to bounce ideas off of
#3 - Investing vs Trading in Cannabis
- Shifting away from the negative stigma of Trading
- Learning what can affect short term movements of a stock
- Marrying the best of both worlds to find the strategy that works best for you
#4 - Read Data NOT Headlines
- Importance of reading past the headlines
- Acknowledge your weaknesses and improve upon them - especially if they are financial related
- Future will be financial and results based - make sure you are analyzing for yourself!
- Good data is like a crystal ball
- Beware paid and biased information sources (including investment banks)
#5 - Quality over Quantity
- Shifting from a broad portfolio of shiny companies to a consolidated list of winners
- Willing to make lower profits in favour of lower risk
- Getting paid for taking risk on earlier stage names
- Running sensitivity on valuations to see what the margin for error is
CLOSING - NOMO FOMO
- This business is extremely capital intensive, even the best companies will need to keep raising
- Investors will have chances to buy into these companies along the way as equity raises will be needed
- Keep evolving your mindset into 2020 and beyond!
Please note: This episode was recorded before the Trulieve short report came out. Our detailed breakdown of the Trulieve report here:
https://www.reddit.com/r/weedstocks/comments/ebztnd/my_analysis_of_the_trul_trulieve_short_report/?utm_source=share&utm_medium=web2x
Next Episode: Top Predictions for 2020