Todd Harrison, founder and CIO of CB1 Capital and special advisor to the $MSOS ETF, was banging the table on cannabis multi-state operators (MSOs) long before he appeared on Real Vision with Tony Greer back in November. The sector has seen an incredible run, but even since that interview with Greer a few short months ago, many of the stocks he outlined have risen sharply with some having gone up over 100%. Harrison returns in this interview with Real Vision editor Max Wiethe to update viewers on his picks considering the massive run we’ve seen and drive home his core thesis—that cannabis is going to be big business, and it’s unfolding right before our eyes. This may seem obvious, but what isn’t as obvious is the advantage that individual investors still have at this moment in time. Much like with other new asset classes like crypto, regulations have not kept up with investor appetites, and a wall of institutional money is waiting to pour into this sector that’s still trading at a massive discount compared to its Canadian counterpart.

Key Learnings: The combination of relative cheapness, secular trend shift, regulatory arbitrage, and clear catalysts make cannabis MSOs the ultimate example of an investment idea tailor-made for the current frothy environment.