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Opinions Terry Shaunessy
Horizon's Medical MarijuanaHMMJ.TOCOMMENTJul 05, 2017
Terry ShaunessyStock price when the opinion was issued
As of Jun 19, 2026. Market Open.
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This asset class has been down for 5 years during a long period of investor apathy. But when an asset class has been down for longer than 3 years, you start to consider it. HMMJ has US exposure where there is growing public support for legalizing canopy. Maybe start with a small position. This is a volatile sector.
HMMJ vs. HMUS. A monstrous opportunity, but you're going to suffer volatility. Go slow, get in over time, and keep it to a smaller proportion of your portfolio. Market weighted. The US exposure is to companies operating legally, and there can't be any recreational use. With HMUS, you're tapping into a bigger market. For example, Charlotte's Web is planning to sell CBD infused products through Kroeger. This scale dwarfs the whole Canadian market. Valuations are high because of the growth potential. If you're a marijuana investing aficionado, you'd want to own both.
Horizons did a good job on marketing by coming up with this ETF. Marijuana will probably do very, very well. Specialty ETF’s tend to be expensive. The management expense ratio on this one is around 70 or 75 basis points, which is kind of a premium. On something like this he would be very tempted to just buy individual stocks.