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The Acquirers Podcast
Value After Hours S06 E29 Mindset Value's Aaron Edelheit on value investing in cannabis and hemp
Aug 26, 2024
Aaron Edelheit, a seasoned value investor specializing in cannabis and hemp, shares his fascinating journey from traditional stocks to navigating the complexities of the cannabis market. He discusses the positive social impacts of legalization in the U.S. and draws parallels with the beer industry's evolution. Edelheit addresses the challenges posed by regulatory complexities, including the burdens of the 280E tax, while highlighting promising investment opportunities. He also explores the philosophical implications of land value taxation, referencing Henry George's impactful theories.
01:01:45
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Quick takeaways
- The speaker's investment journey evolved from real estate to a keen interest in the burgeoning cannabis industry driven by market changes.
- Complex regulations and a federal classification as a Schedule One drug pose significant challenges for cannabis investment and acceptance in the U.S.
Deep dives
Career Journey and Investment Philosophy
The speaker's investment journey began with a childhood fascination for stock markets, leading to various experiences, including managing a small fund focused on restructuring and turnarounds. This progressed into a significant venture of purchasing foreclosed homes during the 2008 financial crisis, where he acquired around 2,500 single-family rentals. Despite the challenges of property management, he successfully exited the real estate sector by selling his business to a public REIT, enabling him to pivot back to his passion for stock investing. This journey highlights a shift in his investment focus over the years, culminating in a deep interest in the cannabis industry, viewed as a significant growth opportunity driven by market dynamics and consumer behavior changes.
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