In the bull-bear world of stock-market traders, the smell of fear ultimately tightens sphincter muscles and triggers sell-offs.
Within minutes of Justin Trudeau’s Liberals tabling their pot legislation, for example, the TSX began dumping some of its publicly traded marijuana stocks.
The lack of clarity in the Liberals’ spanking-new Cannabis Act got speculative investors nervous, which led to a feeling of financial uncertainty, which led to an unloading of stock.
Whether pot or pork bellies, a commodity is a commodity.
While the Liberals would love to say that the legalization of recreational marijuana has everything to do with it being 2017, and finally time to light up and lighten up, the reality is that it comes down to what most decisions come down to.
And that’s money. Big money.