When we see offers from other publishers that might interest you, we pass them along. Below you’ll find one from our friends at Port Phillip Publishing. Please note that their opinions may differ from what you read in The Daily Reckoning Australia. James Woodburn, Publisher, The Daily Reckoning Australia Dear Reader, Hey, Bernd Struben here. I’m the editor of our paid subscription e-letter, Port Phillip Insider. So you don’t usually here from me. But today I’d there’s something I’d like to share with you, which I shared with my own readers yesterday. I think you’ll find it interesting and, potentially, quite profitable. You’ve probably never heard of Michael Lavery. But you may be familiar with Piper Jaffray Companies, the firm he works for. Based in Minneapolis, in the US state of Minnesota, Piper Jaffray’s history goes all the way back to 1895. Though back then it held the rather cumbersome name of George B. Lane, Commercial Paper and Collateral Loans & Co. Today the company has a market cap of US$1.03 billion. And in 2017 Forbes magazine honoured it as one of America’s 50 Most Trustworthy Financial Companies. When analysts from Piper Jaffray make recommendations, investors tend to take note. Even more so when those recommendations involve the rapidly growing cannabis market. From The Street on Wednesday: ‘Canopy Growth Corp. (CGC) climbed 13.6% on Wednesday after Piper Jaffray analyst Michael Lavery initiated coverage on the Canadian cannabis company and Tilray Inc. (TLRY) with overweight ratings… ‘Lavery said in a research note to investors that the global cannabis market has the potential to reach $15 billion to $50 billion in the near term and $250 billion to $500 billion on the long term… ‘Cowen analyst Vivien Azer was also bullish on the cannabis market, telling investors Tuesday that the U.S. market for cannabis has a lot of room to grow over the next decade with sales expected to reach $80 billion by 2030 if the federal legislation comes through. ‘"Our increased confidence reflects the bigger than expected increases that we continue to see for reported cannabis incidence among adults," Azer wrote.’ Forecasts vary wildly about how big this market is going to get. Suffice to say that the legal cannabis market is already worth more today than anyone could have forecast a few short years ago. Canopy Growth Corp [TSE:WEED] alone has a market cap of $15.3 billion. And whether the global market surges ahead to $80 billion or $500 billion, there’s clearly big money to be made here. But as with any industry, booming or not, getting into the right companies is crucial to your success as an investor. As is getting in at the right time. Currently, even most of the better pot stocks are down from their September and October highs. Though with the size of the global legal market likely to keep growing — and ‘cannabis incidence among adults’ likely to be far higher than current methodology indicates — I expect most of these stocks will hit and surpass their 2018 highs soon enough. It’s exciting to see a brand-new industry take life in such a short time. And it will be fascinating to see where it goes from here. Our in-house pot-stock guru Sam Volkering agrees. To discover his number one pot stock play for 2019, click here. Thanks, Bernd Struben, Managing Editor, Markets & Money |