Cannabis equities, along with the more the speculative corners of the market, have fallen modestly in the last two weeks, despite a slew of positive reports on (the inevitability of) rescheduling.
My strategy has been to add to MSOS ($MSOS) and to individual names daily.
Should the space continue to drop in value I could foresee taking my industry exposure to the highest level (in percentage terms) than at any time in the last five years – given my assessment of reward vs. risk.
Recognize that this is a speculative space and your risk appetite should govern your exposure.
Doug Kass is a world-renowned hedge fund manager with decades of experience and success navigating through some of the most turbulent periods in market history. He is known for his time-tested analytical skills and ability to look past the current noise and herd mentality.
On TheStreet Pro, Kass provides frequent market commentary and investing ideas for active investors throughout each trading day in Doug’s Daily Diary. He also serves as president of Seabreeze Partners Management Inc. Previously, he served as a senior manager at Omega Advisors, a $6 billion investment partnership. He co-authored a book with Ralph Nader and the Center for the Study of Responsive Law called “Citibank: The Ralph Nader Report” and can be found as a guest host on CNBC's "Squawk Box."
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