In this week’s Diamond Hands Podcast #8, we again speak with Benjamin A. Smith with Anthony Varrell about crypto, cannabis and psychedelics. On the agenda: Anthony opines on the crypto/NFT market with his usual prescient analysis, how we’re playing AdvisorShares Pure US Cannabis ETF (MSOS) at its recent trough point, Tilray’s potential as a long term investment, COMPASS Pathways and more.
Episode #8 CliffsNotes…
@2:18-3:54 Crypto space performed very well this past week, with Bitcoin and Ethereum rising 15.28% and 3.51%. Bitcoin also decisively cracked the psychological US$50,000 mark. Anthony comments.
@3:55-6:00 Conversation related to reports that a trillion-dollar platinum coin could be minted “within hours of the Treasury Secretary’s decision to do so,” according to the former director of the United States Mint, Philip Diehl. Of course, this solution is a quasi-money printing gambit using precious metals as a veneer of legitimacy. We weigh-in on how this actually could be a signal of the existing U.S. dollar reserve currency coming to an end.
@6:01-7:25 Anthony talks about Bitcoin as store of value and how Ethereum is the internet. A good topline comparative analysis of both assets.
@7:27-9:58 Global crypto transactions keep rising. The regulatory landscape in North America is shifting to help accommodate the industry instead of thwarting it, so it appears. Crypto and DeFi hope to avoid strict banking-level regulations. We also touch on WonderFi Technologies and their attempts to democratize decentralized finance to the masses.
@9:59-11:25 How parking money in stablecoins (DeFi) can generate much higher yields than parking money in simple savings accounts.
@12:00-14:38 Is U.S. dollar hegemony nearing an end? Ben and Anthony discuss further. We also touch on how crypto transacting is big in the developing world where population growth is much higher than North America and Europe.
@14:40-17:49 Talking Tilray and our views on how it stacks up against against U.S. MSOS is the current environment. We mostly have a positive longer-term view on Tilray due to its leading international presence and burgeoning non-cannabis U.S. brand portfolio, but valuations are high compared to MSOS.
@17:50-19:10 Tilray’s very large call option on MedMen is a nice piece when consolidation opens up to Canadian licensed producers.
@19:11-19:43 MedMen’s issues producing cannabis in Florida, but strong branding it a big plus.
@19:44-21:53 New York marijuana regulators sought to make up for delays in the drug’s rollout by approving a chief equity officer and making immediate changes to the medical cannabis program. Are we bullish or bearish on MSOS right now? And our view on investing in MSOS short term.
@21:55-22:48 All the talk in the psychedelics industry right now is all about COMPASS Pathways. It is by far the biggest catalyst in Q4 2021.
@22:49-24:28 Ben agrees that COMPASS Pathways Phase 2b endpoints are very important for the sector. Ben also touches on how the psychedelic sector trades completely different than the early-stage cannabis sector that preceded it.
@24:29-28:16 Is medicinal psychedelics research way ahead of cannabis at a relative point in each sector’s cycle? We discuss.
For the weekly Diamond Hands Podcast stock picks, please tune in until the end.
To view Diamond Hands Podcast Episode #7, click here.