Sep 9, 2024
On this week's
Stansberry Investor
Hour, Dan and Corey
welcome Aaron Edelheit back to the
show. Aaron is the founder and
CEO of private investment firm Mindset Capital. He joins
the
podcast to talk about his
investing philosophy... the importance of relieving mental
stress...
and all things cannabis – from
its "great replacement" of alcohol to its legalization in
more
and more states.
Aaron begins with a story about
how he received advice from the legendary Charlie
Munger
on the "price of admission" of
being an investor. He explains that this advice made
him
reflect on his own strengths
and realize that he wanted to exclusively do long-term
investing
rather than trading. This leads
to a conversation about investor psychology and
mental
strain. Aaron shares a few tips
for relieving the anxiety surrounding investing, from
turning
off your phone and computer one
day a week to doing hot yoga. (1:37)
Next, Aaron talks a bit about
his investing background, his career path, and how he
finds
opportunities where others
aren't looking. Today, he believes the big opportunity is
in
cannabis stocks. He explains
that certain names in this industry are breaking out despite
the
lack of federal reform. Aaron
also drops a non-cannabis name that he's interested in
and
gives an alternative
perspective on value stocks. (22:44)
Finally, Aaron compares today's
investing landscape with that of the 1990s. He shares
that
there's much more financing of
private companies today, which stops them from
going
public for longer (if at all).
After, Aaron makes his case for cannabis stocks. He believes
that
they will eventually steal
market share from drug companies and alcohol producers
once
more people realize the
benefits and switch over. (40:54)