Like Amsterdam, but closer.
Canadian Prime Minister-designate Justin Trudeau has lots of fans all around the world, many of whom aren’t interested in his policies so much as how hot he is. And then there are the folks who run Poseidon Asset Management, who don’t especially care about how hot Trudeau is except insofar as it affects his ability to carry through one very specific, and, they hope, very lucrative policy: pot legalization.
“We have one core holding up there currently but we would love to expand that,” says Morgan Paxhia, the hedge fund’s founding partner and chief investor. South of the border, Poseidon invests only in businesses that are “one step away from touching the leaf,” such as producers of cooling systems used in marijuana production facilities or vaporizer technology…. “We wouldn’t want to put our (investors) at risk with that exposure in the United States,” says Paxhia. “That’s why Canada is of interest to us, because we can then participate in that growth.”