General discussion, page-4445

The reasons to be cautious would be purely technical, on two levels.

The first level is the one that has the most merit: diversification, overall remains a primary principle, and one that when adhered to, in the long run, will save you over and over again. That said, IHL represents about 80% of my holdings so I obviously believe this is an exception to the rule.

The second level is related to whether or not IHL is an exception to the diversification rule. If one remains stuck on a technical level, the answer would be no. Technically, IHL is in the cannabis industry family which is a high risk, high volatility market historically plagued by regulatory hurdles, stigma and the type of jeopardy incurred whenever a new frontier opens up and everyone and their pet possum thinks they can open up shop and benefit from the gold rush.

Technically, IHL has some oil sales, and a number of pharmaceuticals in development, none of which have started human trials. That foray into the biotech arena, to some, is simply an empty track record with few conclusive signals to boost confidence levels.

An investor with little to no understanding of cannabis or psychedelics receives only this very incomplete picture.

I won't repeat that which we have all said a 1000 times, and which you yourself laid out well here: the risk is much smaller than non-initiated investors understand. There is still risk, but the gulf between the reality of the risk level, and the imagined risk level, is the measure of the profit available for those with longstanding and intimate knowledge of the substances involved.

I'd like to use an analogy, in an imaginary world where aspirin or paracetamol had been demonised and criminalised for almost a century, only for the world to finally come to its senses... but the analogy would fail because cannabis is useful on more fronts than even those ubiquitous drugs. I'm not able to think of another source of as many applications as cannabis already has, at the dawn of clinical research into its usefulness. From the topical analgesic and antiseptic world, to the realms of anxiolytic, sleep disorder alleviating, anti-inflammatory, neuroprotective, immunoregulatory, anti-convulsive and anti-carcinogenic action... the uses are too varied to compare it to much else.

The real gold rush is being most successfully mined by cannabinoid biotech companies, and we probably won't see again within our lifetimes drug development as de-risked and undervalued as the ones based on cannabinoids... and within the correct parameters of use, psychedelics.