SIPP - Investing in Marijuana

boogieboa

I turn 55 later this year. I have a small unit-linked personal pension plan with Phoenix Life, currently valued at around £7,000. I want to transfer the full sum into a self-invested personal pension (SIPP), and will probably go with AJ Bell. I'd like to invest at least half of it in the legal marijuana industry, but which are the best stocks to try and why? Any advice would be much appreciated.

Many thanks.

saucer

I have to say I’m planning on investing in some marijuana when I retire

AnotherJoe

IMO investing in the stock of any one particular company would be way too high risk.
I would look for an ETF that covers this area, almost certainly it will be US Dollar based.

ColdIron

Some ETFs may have POTential

http://citywire.co.uk/wealth-manager/news/passivebeat-dope-or-false-hope-the-worlds-first-marijuana-etf/a997127

edinburgher

ColdIron wrote: »

Some ETFs may have POTential

http://citywire.co.uk/wealth-manager/news/passivebeat-dope-or-false-hope-the-worlds-first-marijuana-etf/a997127

You could also have advocated caution that that particular sector will go to pot, made comments about how the grass is always greener etc. etc.

boogieboa

AnotherJoe wrote: »

IMO investing in the stock of any one particular company would be way too high risk.
I would look for an ETF that covers this area, almost certainly it will be US Dollar based.

Canadian dollars, me thinks!

stoozie1

I thought about this type of investment.

But I'm a bit of a dope, so I'd likely make a hash of it.

Malthusian

Something something joint enterprise something something