There’s a famous quote by French journalist Jean-Baptiste Alphonse Karr that translates as ‘the more things change, the more they stay the same’.

A couple of months ago I hosted a small group of clients and prospective clients at a local establishment. Over a lovely meal we learned more about the burgeoning industry of medical marijuana. 

Before I go any further, please let me make crystal clear that….

• This post (and the event itself) was not and is not an endorsement for the company Hydropothecary, its product, or its stock.
• This post is not an endorsement to leap into adding ‘pot stocks’ in your portfolio. 
• This post is certainly not an endorsement for using cannabis for medical or recreational use – now or in the future.

I urge you to do your homework. My brother Danny O’Connell (whom I have talked about often in past blogs) used marijuana, and I feel it may have been the gateway drug to stronger self-medication he sought to ease the pain of undiagnosed mental illness. So personally speaking, this whole industry scares me to death, but….

Knowledge is power. Since our Federal Government appears to be moving ahead with the legalization of cannabis, we need to learn as much as we can.

That’s how I ended up hosting a gathering for the purpose of exploring legitimate medical uses of cannabis and its by-products, the impact of legalization, and what it means for us as responsible citizens. And why I reached out to local cannabis producer Hydropothecary to share their points of view.

Julie Beun, of J. Beun Media and Marketing Communications, manages PR for Hydropothecary and she shared with us the story of Hydropothecary’s founders, Sébastien St-Louis and Adam Miron. Dr. Terry Lake, Hydropothecary’s VP of Corporate Social Responsibility, is one of the only executives in the industry with this title. The company has made a corporate commitment to environmental and social care. They both clearly understand that their product has the potential to have a negative impact on society, just as the spirits and alcohol industry have had. 

Terry shared his experiences in politics, from the municipal level in Kamloops, to the federal level as BC Minister of Health with the Liberal Government. His health science background and veterinarian training lead to an evening of technical explanations featuring an alphabet soup of terms like THC and CBD.

He is a father to two daughters and a champion for women’s representation. The company’s head grower is Agnes Kwasniewska, and Terry mentioned there was a strong internal push to have more women represented on the board of directors. Hydropothecary is one of the sponsors of the Women’s Business Network - Business Women of the Year Awards.  As part of their commitment to the environment, Hydrotherapy is seeking LEEDS designation for their greenhouses.

Terry and Julie fielded many questions from the room about recreational use, forms of ingestion, access by our youth and the risk of over-use. We also had a lively discussion about the role of Big Pharma and Big Business.

From an investment perspective, you know that I believe in harnessing the power of the collective wisdom of the market. Eventually, the Cannabis industry may very well be represented in all but the portfolios that actively choose to exclude it. I know I still have much to learn and understand about the substance, regulation and the economics of ‘pot stocks’. I know I’ll start getting investment questions and I want to have informed, honest answers ready.

I plan to host more small group events to explore topics of interest and relevance to curious investors, such as Blockchain Technology and Artificial Intelligence. What would you be interested in learning about?  Are you an expert in a field or industry that is set to revolutionize our world? Let me know. Email us here and let’s start a conversation.