Low-volatility sectors like Utilities and Consumer Staples are not cheap, due to recent bouts of investor risk-aversion. Telecom, with its high dividend yields, is not cheap for the same reason.
Consumer Discretionary is not cheap, thanks to companies that should have gone out of business by now, like AMZN and JCP.
Charles Schofield, a successful textile manufacturer in Philadelphia, in 1863, sold his interest in his firm for $40,000 and “retired with a competency.” Schofield, who was all of 29 years old, considered himself “opulent enough.”
Once upon a time, the American Dream was to achieve a competency – just enough to live comfortably. The concepts of amassing wealth and conspicuous consumption did not exist yet.
But over the years, living comfortably became too easy. Even the poorest Americans today live comfortably compared to those of a century ago.
It’s not that Americans are greedier than any other nationality, it’s that humans need to be challenged. Achieving a competency isn’t challenging anymore, so the next goal is to accumulate enough material goods to raise a symbolic middle finger to our next-door neighbors.
Go to any third-world country, any place where meeting daily nutritional requirements is still a struggle for the average citizen. There are no grandiose dreams of owning luxury sedans or private watercraft. But someday, when technological advancements allow all basic needs to be met, then they will become greedy as well.
The US marijuana market is estimated at $50 billion — substantially smaller than the tobacco industry, but less likely to kill its users with cancer. And with the way legislation is heading, the market should grow at a healthy pace.
Weed users are an underserved market segment and there are many opportunities waiting to be exploited. A new cannabis-focused private equity fund is now receiving investor pitches.
Here are some business ideas that I hope someone invests in.
Weed chia pets so you can get your kids to grow weed for you
Genetically modified crops
Piracetam as a supplement to counteract marijuana-induced mental retardation
Delivery service for Cheetos, m&m’s, and gummy bears
Last week, I stopped by Insight to visit Warren and got a mosquito bite. In freaking February while it was 55 degrees outside. Things will be really bad when I go to South Africa or South America or wherever it is I’m going in a few months.
In order to fight mosquitos, I need to think like a mosquito. It’s ON.
