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Old 11-07-2012, 03:51 PM   #21
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Lets keep the thread about money and investing, not politics.
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Old 11-07-2012, 04:07 PM   #22
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I did not know about the drive to legalize the recreational use of pot in these two states until yesterday. In CO, I read that it will be legal to own 1oz, and so many plants at home. No more pretending about medicinal use of pot, people in these states are.

Not sure about commercial growing, but if it is legal to do so, heck, one can just move to the state and put up some green houses. It should be an easy part-time job for an early retiree. Why buy stocks of some public companies if one can take a more active role and keep more of the profits? Be your own boss, keep your own hours, make good money, and get high from your own supply, what's not to like?
The DEA, that's what's not to like It may be legal in CO, but it is not at the federal level. It's an odd situation.
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Old 11-07-2012, 04:22 PM   #23
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That's too bad. I have found the full text of Colorado's Amendment 64 here: Amendment 64: The Regulate Marijuana Like Alcohol Act of 2012 | Yes on Amendment 64: The Colorado Campaign to Regulate Marijuana Like Alcohol.

They are going to levy a 15% sales tax (subject to further increase after 2017, once more people discover the pleasure of pot, I guess), and use the money for public schools. What an excellent idea! Use the kids' own money to build schools for them. Brilliant!

I may just have to come out of retirement, move up there to put my green thumb to use. Have you seen the photo of the home-grown veggie I posted? I should grow something more valuable. Heh heh heh...
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Old 11-07-2012, 04:29 PM   #24
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That's too bad. I have found the full text of Colorado's Amendment 64 here: Amendment 64: The Regulate Marijuana Like Alcohol Act of 2012 | Yes on Amendment 64: The Colorado Campaign to Regulate Marijuana Like Alcohol.

They are going to levy a 15% sales tax (subject to further increase after 2017, once more people discover the pleasure of pot, I guess), and use the money for public schools. What an excellent idea! Use the kids' own money to build schools for them. Brilliant!

I may just have to come out of retirement, move up there to put my green thumb to use. Heh heh heh...
This seems like the most interesting part to me:

" (j) NOT LATER THAN JULY 1, 2014, THE GENERAL ASSEMBLY SHALL ENACT LEGISLATION GOVERNING THE CULTIVATION, PROCESSING AND SALE OF INDUSTRIAL HEMP."

One of the bigger out of state donors of money in favor of this amendment was Dr. Bronner's soaps, which use hemp oil as a base. Not allowing the commercial cultivation of industrial hemp is stupid beyond words.
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Old 11-07-2012, 05:15 PM   #25
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It's a little different in Washington. No home growing allowed except for the currently allowed medical usage. Producers have to be licensed, paying $1000 annually for the privilege. All regulated by the Washington State Liquor Control Board. Other growing is still illegal.

Possession decriminalization goes into effect next month, and the process for licensing and sales has to be worked out by December 2013. 25% excise taxes on wholesale and retail sales, earmarking some revenue for purposes that include substance-abuse prevention, research, education, and healthcare with the rest going to the state general fund.

But the feds of course will still have their say in the matter. Figure it will be a while before the pot stores open up next to Jamba Juice in the local strip malls. But the retail store franchises might be an interesting investment opportunity. Or a lot of small mom-and-pop businesses, depending on how they write the regulations.
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Old 11-07-2012, 05:25 PM   #26
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No home growing allowed except for the currently allowed medical usage. Producers have to be licensed, paying $1000 annually for the privilege.
$1000/yr is a small fee to pay. No home growing is good for commercial producers. No competition!

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25% excise taxes on wholesale and retail sales, earmarking some revenue for purposes that include substance-abuse prevention, research, education, and healthcare with the rest going to the state general fund.
Sounds just like the tobacco taxes that were supposed to pay for all the good "stuff".

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Figure it will be a while before the pot stores open up next to Jamba Juice in the local strip malls. But the retail store franchises might be an interesting investment opportunity. Or a lot of small mom-and-pop businesses, depending on how they write the regulations.
I wonder if they allow consumption on the retail premises. If so, I can see restaurants and smoke-joints combined into one. Mucho mucho money for those with an entrepreneurial spirit.
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Old 11-07-2012, 05:32 PM   #27
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Sarcasm aside, I really want the Fed not to intervene to see how these social experiments will work out. It's better that some other states try it first than mine. If it works out, fine, we will follow suit. If it doesn't, well, I've got nothing to lose as a watcher from a distance.
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Old 11-07-2012, 06:00 PM   #28
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No comment on the herbal discussion. From an investment standpoint I will continue to rebalance via passive investment in equities with new 401k/IRA contributions. If the fall is big enough for rebalance bands to be hit I'll reallocate some investments.
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Old 11-07-2012, 06:20 PM   #29
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The results of neither national nor local elections have little/no affect on my life or how I invest my stash as far as I can see. It appear as though over 2 billion dollars was spent and we will have the same president, same majority in the house and senate.

I'm glad that I voted early tho.
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Old 11-07-2012, 06:21 PM   #30
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Doing something different with my money? Nope.

As far as doomsday.....I am sure I will be at work dealing with some god-awful "OMG the sky is falling" crisis that is much more important to my business partners than the end of the world. (As you can tell, I had a crappy day at work today.....)
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Old 11-07-2012, 06:32 PM   #31
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Quote:
Originally Posted by shortstop14
It's a little different in Washington. No home growing allowed except for the currently allowed medical usage. Producers have to be licensed, paying $1000 annually for the privilege. All regulated by the Washington State Liquor Control Board. Other growing is still illegal.

Possession decriminalization goes into effect next month, and the process for licensing and sales has to be worked out by December 2013. 25% excise taxes on wholesale and retail sales, earmarking some revenue for purposes that include substance-abuse prevention, research, education, and healthcare with the rest going to the state general fund.

But the feds of course will still have their say in the matter. Figure it will be a while before the pot stores open up next to Jamba Juice in the local strip malls. But the retail store franchises might be an interesting investment opportunity. Or a lot of small mom-and-pop businesses, depending on how they write the regulations.
Obviously my ill informed stereotyped opinion from the midwest on this was wrong. I would have bet Oregon passing it before the other 2 states.
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Old 11-07-2012, 06:32 PM   #32
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Getting away from the "herbal discussion" and back to the thread topic, I am not doing anything in the immediate future.

No matter what the election results, I will continue to monitor the economic development here, compared to elsewhere in the world. Of my equity holding, about 1/3 of it is ex-US, and I would have no problems going higher. The problem is the economy generally stinks all around the world, perhaps except for some isolated pockets, and I do not want to concentrate too much in small countries.
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Old 11-07-2012, 06:39 PM   #33
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No changes in my investments.
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Old 11-07-2012, 06:41 PM   #34
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No comment on the herbal discussion. From an investment standpoint ...
... should we expect the market to hit new 'highs'?

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Old 11-07-2012, 07:04 PM   #35
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Apparently Peyton Manning just bought a chain of Papa Johns pizza stores in Colorado.
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Old 11-07-2012, 07:36 PM   #36
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I had no idea who Peyton Manning is, so looked on the Web and found this: Peyton Manning Bought 21 Papa Johns Before Colorado Legalized Pot.
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Old 11-07-2012, 07:36 PM   #37
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Obviously my ill informed stereotyped opinion from the midwest on this was wrong. I would have bet Oregon passing it before the other 2 states.
Actually, Oregon voted DOWN it's pot decriminalization proposal. It doesn't really matter though we already have "medical" dispensaries everywhere and the climate here is so ideal for growing the little herbs that the mexican mafia has moved into the forests and have elaborate plantations going on. Be careful with that little hike in the forest around these parts
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Old 11-07-2012, 08:14 PM   #38
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Does the presidential election effect where anyone is putting their money? Just curious.
Yes, I think the elections will likely affect where people's money will be going for a very long time.
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Aside from the obvious and "unmentionable" issues, I think it is prudent for investors to periodically make judgements about the fundamental competitiveness of various national economies. I'm sure many Japanese investors were glad they invested outside their country when it became evident that there were structural issues which would prevent Japanese companies, in general, from doing well in comparison with competitors elsewhere in the world. If a US investor believes the election makes a statement about the future playing field for US companies, or if anticipated well-intentioned government actions makes it less likely that the US economy will allow capital to flow to the most efficient use, then that investor should probably tilt investments to economies where businesses have a better environment for growth.
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Old 11-07-2012, 08:38 PM   #39
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The election results change exactly nothing about what I will do that I didn't already expect to: I will sell some stocks on which I have gains this year (to take advantage of the temporary 0% tax on capital gains, because my income will be very low this year), but I realized I could do that back in the spring. Otherwise, just keep on keeping on.
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Old 11-07-2012, 08:45 PM   #40
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I have a new Mayan perpetual calendar that is supposed to last another 4000 years hanging on my fridge. When this one runs out I guess Iwill just panic like everyone else and go into survival mode.
The calendar in my check book ends on December 31. That will be the end of the world for sure.
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