Hey, it's Barry Ridhalt. You shouldn't check out my upcoming appearance on Bloomberg's E t F podcast Trillions, hosted by Eric Beltunis and Joel Weber. It's pretty epic. The guys pepper me with questions on behavioral finance, e t F, tariffs, trade war politics. Be sure and check out the episode of Trillions dropping August three. It was a fantastic discussion. And if you don't believe me, just listen to this. There's a you know, a pot e t F. There's
a cybersecurity e t F, robotics. These theme ets have risen a little bit. A lot of people blow them off, but a lot of the stocks they hold are young. There won't be in the big index is for a while then most people own Is there a case for them? Do you ever get tempted by some of these more speculative areas, Yes, there's a case for them. No, I'm never tempted by them. But like you know how Google
had the big earnings recently. Um, and then everybody on Twitter does this thing where they quote people who said Google is not going anywhere. I feel like those are the same people who pooh poo like a pot et f because they're like, oh, it's a joke. Um, I
don't think it's a joke, but correct. But if Google was sort of uh waved off back then or looked at is maybe high flying or speculative, shouldn't things that are speculative today be taken more seriously to get your claws into that young industry or young stock, as opposed to waiting until it's an adult and finally makes it in the SMP five hundred, Alex, I'll take survivorship bias
for one please. So you're telling me about Google today, but you're not mentioning pets dot com or Cosmo or any of the other thousands of pieces of crap that came and go. Remember Google was like the twenty six search engine. I was a beta test er for Google back in the you know, eighteenth century, and I remember playing with it for a day in sending an email to the person who invited me, this is interesting, How can I invest in your company with that? Like a
Yahoo dot Com email? I don't even know it was a o L. It was dialing right that crazy era. So let's separate the pot ETFs from and a buddy of mine runs a cannabinoid wellness and health hedge funds described buddy, Uh, this is somebody. Todd Harrison is somebody I'm friendly with. Never indulged in in any leafing material with him. Um, but he's a person whose office was right near the World Trade Center during nine eleven, had horrific survivorship guilt. They put him on the usual opioids
and depressants. He hated what it did to him, He said, I'm not who I used to be. Eventually found his way to some legal medical like there have been medical marijuana legal in New York for really really specific diseases. It's not like quote unquote medical marijuana when it was in California, where m hey, dude, I'm having a hard time sleeping. Oh here's some weed that that is not what New York was. And look at look at what's
taking place state by state. Does anybody doubt that fifty years from now, medical regular marijuana is sold over the counter like beer. How about twenty years from now, how about ten years from now. At a certain point, it's clear we can't incarceraate millions of people for weed and pay millions of dollars billions of dollars to drug companies for things that may or may not work. Oh and thanks for the OPIOI Sessions would like to speak with you.
Now you know Sessions. So this whole crew is a temporary setback to the relentless march forward of progress, not just politically, technologically sociologically. So you sound like you understand the pot industry, the growth and all this. This is a great example. I'm high right now now own life, I can say it. But it's a good example because we do talk about the ttfs in the show a lot. But as an investor out there, w E D s the one. But say you're listening out there, m J
is the ticker. It's a diversified basket of potstar Jane. Yes, it could have been better, but I think, how does nobody up something well? I think the issuers didn't want to go too far and like really irk the sec by like doing a touchdown dance with a ticker. But I digress. The tick ticker makes a big difference. But here's a case where you know the industry you bought. You kind of sound like you're, um, I'm intrigued by it.
But but but as an investor, what stops you from trying to get an early foothold in using say diversified basket like MJ. That's a great question. Well, first of all, I have you know the the old joke is the second mouse gets the cheese. The settlers, the early settlers are the ones with the arrows in their back. Um, I don't I don't know. I don't know if ms like Ben Franklin type stuff right there? So the question we mentioned we mentioned Google, right, So is this the
first group of stocks? Is this the second group? Like? How many? How many dog pile and go and what were some of the other out of Vista? How many of these other mediocre search engines do we have to go through before Google comes along, executes better, has a broader vision, can do all the chance they need to do. So maybe m J is a home run, or maybe it's a speculat piece of graphic goes nowhere. I have no way to tell that