Well, that's pretty embarrassing. Maybe Spain is about to get a bailout so he'll go snatch up some of that and be back in time for QE3?
"Marijuana IPOs Provide Investors With Gateway to Cannabis Boom "
http://www.bloomberg.com/news/2011-...-investors-gateway-into-cannabis-economy.html
In an industrial section of Oakland, California, former Morgan Stanley investment banker Derek Peterson hops into a trailer being outfitted with shower drains, lights and humidifiers, all used for growing marijuana.
“This is one we’re finishing up, what we call our bloom room,” he said. Peterson, 36, sells the trailers for $30,000 to $80,000 as “plug-and-play” facilities for cultivating pot. Customers don’t need to buy hydroponic equipment or even stay on-site -- lighting, temperature, nutrients, water and humidity can be operated remotely via an iPhone app.
The legalization of medical marijuana -- permitted in at least 15 states -- has kicked off a booming economy in ancillary goods. Startups such as Peterson’s GrowOp Technology Ltd. and General Cannabis Inc. (CANA) compare the phenomenon to the California gold rush, when the people making the real money were the ones selling pick axes and shovels. Both companies are planning initial public offerings, part of an effort to remove the stigma from what’s seen as a multibillion-dollar industry.
“We’re better off by being in the public arena and showing a face of professionalism,” said Jim Pakulis, chief executive officer of General Cannabis, who says medical marijuana could be a $60 billion industry nationwide. “The market will just continue to expand.”
cont'd
I haven't seen a canna based company yet that I like.
Taking a guess. I'm going to say the dollar is up. Oil is down a bit pushing oil stocks down. I think it will be going back up to $105. It may test $98.
Buy the Dip!
I think sooner rather than later. Some of this was discussed in the gas price thread. I spent a solid year 20 hours a week researching Peak Oil and alternative energy including emerging technologies. That was about 5 years ago and the Saudi oil fields were already showing signs of problems. If you look at oil production graphs most of the increase now is coming from deep water drilling and only so deep they can go and lots of problems/costs associated with deep water stuff. Newer drilling technologies are opening up reserves not feasible to deal with before but that 'new' oil won't even make a dent in the problem.
The geology in some areas of the deep Gulf seems pretty messed up...very weak and fractured. Some even said that BP drilled right into an asphalt volcano. This whole subject was covered in another thread though.
No denying that but it's the pressure and temp at those depths which was, from my little pea brain understanding, also the root of the problems they dealt with when things went wrong. The Gulf floor oozes oil cause it's getting squeezed out by the pressure at those depths and methane turns to ice. Some say that methane hydrate disruptions on the ocean floor have been responsible for some, or at least one, of the climate shifts that have happened in our planetary history. Could be total BS but some have said that BP was trying to tap into methane hydrate reserves with the well that they lost control of. Probably conspiracy theory garbage though.
