Please ensure Javascript is enabled for purposes of website accessibility

Cabot Wealth Summit Recap: Marijuana Legalization, Fistfight Stories and Apple’s Trillion-Dollar Secret

Projections on full marijuana legalization, Apple’s trillion-dollar catalyst, and fistfight yarns highlighted last week’s sixth-annual Cabot Wealth Summit.

IMG_1113

The best question at last week’s Cabot Wealth Summit came from Joshua King, a fresh-out-of-college 20-something attending the annual event with his father, Michael.

“When do you think marijuana will be fully legal in the U.S.,” he asked Tim Lutts, chief analyst of Cabot Marijuana Investor, during his presentation titled, The Fastest Growing Industry in America—Cannabis, “and will it be too late to invest in it by then?”

“Good question,” Tim responded, before revealing his answers: 2021 and no, it won’t be too late. “But it would be better to invest earlier,” he added.

The exchange between King, a recent graduate of Liberty University, and Lutts, Cabot’s CEO and Chief Investment Strategist, perfectly encapsulated what the Wealth Summit is all about. Good investment ideas (or queries, in this case) can come from anywhere. Everyone’s question matters. And every Cabot analyst has a candid answer to every question.

Those interactions are why people like John and Betty Middleton of Newport Beach, California have attended all six Cabot Wealth Summits, held at the historic Hawthorne Hotel, roughly a mile away from Cabot Wealth Network headquarters in Salem, Massachusetts. They are why Bruce Adams, a longtime Cabot subscriber from Flemington, New Jersey, was “kicking himself” for missing the first four Wealth Summits before attending each of the last two years. It’s why Gerrette Bitetti, a first-time attendee (also from Newport Beach), hopes to convince her husband to come next year.
[text_ad use_post='129627']

Of course, friendly interaction with our analysts and fellow individual investors isn’t the only reason 71 people—from California to Florida to the United Kingdom—came to this year’s Cabot Wealth Summit. First and foremost, it’s about the investment advice and stock picks from our team of experts.

Cabot Wealth Summit Lessons and Stories

Paul Goodwin, our resident emerging markets expert, told the audience that India has “tremendous potential, but they haven’t made moves to unlock that potential” for investors.

Mike Cintolo, our market timing expert and editor of the Cabot Growth Investor and Cabot Top Ten Trader investment advisories, called this year’s market turbulence a “pause” akin to other one-year pauses in the second year of a bull market. He thinks the current bull market (which, according to Mike, really started in late 2016) has another leg up. And longer-term, the current secular bull market (started in 2013) should run for another five to 10 years!

And Cabot Undervalued Stocks Advisor editor Crista Huff recommended several stocks that had “deep V” chart patterns—a bullish sign.

The stories were good too. Jacob Mintz told several stories from the years he spent on the Chicago Board of Options Exchange trading floor, including the time his boss and another man got in a fistfight that wasn’t broken up until Jacob’s boss’ five-foot-tall secretary picked up a computer monitor and clobbered the other man with it. Jacob’s boss dusted himself off, walked across the street to take out $10,000 from the nearest ATM, and handed it to his secretary—the first “bonus” he had ever given out. That’s a good yarn!

Tyler Laundon (our small-cap stock expert) went on an impassioned speech about the power of the cloud software industry, and how software transformed Apple (AAPL) from a $900 billion company to a trillion-dollar company. And that was at dinner the night before his speech on the subject, with an audience of three (me, Jacob and Michael Reade, a longtime Cabot subscriber from Houston)!

There were surely other good stories and investment theories that I missed, discussed on the trolley tour of Salem or into the wee hours in the back corner of the Hawthorne Hotel bar (I went on the schooner ride—photo below).

Cabot Wealth Summit patrons ride the Schooner Fame on a glorious August evening in Salem.

As usual, a good time was had by all. If you’re a regular Cabot reader (or even if you’re a newbie like Jane Johnson from nearby Gloucester, Mass.), I highly recommend coming to next year’s Cabot Wealth Summit.

Come for the friendly investment banter over a plate of mussels and a Sam Adams. Stay for the answers to when you can buy marijuana … stocks.

[author_ad]

Chris Preston is Cabot Wealth Network’s Vice President of Content and Chief Analyst of Cabot Stock of the Week and Cabot Value Investor .