The alternative investment community is a fan of marijuana, at least from an investment perspective, along with art, jewels, wine, sports teams and other “alternative” opportunities, according to a new survey by the New York Hedge Fund Roundtable.
“Alternative” alternative investments was the topic of the Roundtable’s May event, where speakers on a panel moderated by Galerie Magazine executive editor Alexandra Peers weighed in out-of-the-box ideas attractive because they do not correlate with the general marketplace.
“From art, to sports teams and medical marijuana, there are several non-traditional areas outside of those typically focused on by the alternative investment industry that offer the prospect of very attractive returns,” said Adam Weinstein, president of the New York Hedge Fund Roundtable, in a statement.
Roundtable members believe that marijuana is an attractive investment option for the alternative investment community, with 77% of respondents indicating that, given the rising number of state embracing marijuana usage – both medically and recreationally, it is an area they would consider investing in. Those who remain on the fence about investing in marijuana are concerned about the fact that there is no guarantee that the federal government will ultimately legalize cannabis.
Other key findings include:
- When asked to identify which “alternative” alternative investments they believe has the potential for the greatest returns, 55% of respondents think it is marijuana; 18% said sports teams; 14% think it is art; 9% believe it is wine; and 4% think it is jewels.
- Asked where the greatest potential gains from investing in marijuana are for the alternative investment community, 78% of respondents think that investment in U.S.-based cannabis operations are most attractive, given the tremendous growth opportunity for these companies as more and more states approve medical marijuana; 22% of respondents think cannabis stocks in Canada, Australia and certain countries in Europe where medical marijuana is legal have the greatest potential.
For more findings from the survey visit FINAlternatives.com
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