The big buzz word for the 2020 election is Reparations, the righting of the wrong done to blacks as a result of slavery and over 150 years of prejudice. Since the arrival of the first slave ship to America in 1619, African Americans have been systemically pushed out of every economic development that this country has created. From Jim Crow to Social Security, blacks have been excluded from opportunities to build wealth that was given to their white counterparts. The war on drugs was yet another plight against the black community set to destroy and create systemic imprisonment. Now in 2019 as we approach the realization of Marijuana becoming federally legalize and the introduction of the H. R. 40 Commission To Study and Develop Reparation Proposals for African-Americans Act, the question is “How Will This Shrink The Wealth Gap?”.
One of the key components to the Racial Wealth Gap is African Americans lack participation in the Stock Market. Of course, there are many other reasons why white households have 41 times more wealth than black households, according to the New York Times but investing in the market is definitely one of the tops. Low African American participation in the stock market contributes to the widening wealth gap between black and white households, according to a 2014 study by Credit Suisse and Brandeis University’s Institute on Assets and Social Policy.
Investing in the stock market today has become extremely easy and offers no racial barriers. The internet gives anyone an opportunity to open a broker account at extremely low costs. Most brokerage firms ask very few questions regarding credit, employment, education, or net worth unless individuals are using sophisticated investment techniques such as futures and commodities.
Despite your participation in the consumption of Cannabis most African Americans understand how the “Weed Game” works. Whether you sold or purchased marijuana many of us know someone who has been either positively or negatively impacted by Pot. Most states have continued to use systemic racism to exclude blacks from opening businesses in the Cannabis Industry, but there are no barriers that keep any race, age, or gender from investing Pot Stocks. The “Dope Game” has taking Wall Street by storm. Not many industries can make the stock appreciation claims that Pot Stocks can.
So, Why Aren’t More African Americans Buying Pot Stocks?
Lack of Trust– We do not believe the stock market was created with us in mind. To invest in the market for the long haul requires trust, engagement, and the belief that there is a possibility for a profit.
Lack of Education– We are not educated on how the market works. To become a successful trader or investor you must understand the basic principles of the market. Many of the words used in investing sound like a foreign language to most people. Ethnicity and race greatly affect whether a person is exposed to stocks and begins to understand the market at a young age.
Lack of Strategy– We do not employ a strategy or trading plan. Now that investing has become so accessible due to the internet and social media “stock tips” are everywhere. Many social media groups are filled with wrong information, bad investing advice, “call-outs”, and information that leave you more confused than you were before you joined.
How Can We Start Investing, Today?
African Americans do not have to jump into the stock market alone. Creating investment clubs with friends, family, sororities, and fraternities are a great way to start taking the plunge. Investment clubs have the power to address some of the most serious economic issues in our communities, including financial literacy, Black net worth, and cooperation within Black communities. Starting an investment club is easier than you think. This is a great way to share risk, research, losses, and profits. Investment clubs can be used to invest in Cannabis Stocks, Mutual Funds, Exchange Traded Funds and Businesses. http://www.cimonecasson.com has created an “Investment Club” Package where you can learn how to start your own.
Taking advantage of God and Google makes investing easy for anyone. Stockpile, Stash, Robinhood, and Acorn all offer Marijuana Stocks. For a low cost, anyone can download an app and begin investing in the top Pot Stocks immediately. Most investments are commission- free and user-friendly. These services are innovative, cutting out nearly all costs that are typically associated with investing.
Pre-IPO ( Initial Public Offering ) and/or start-up company investing is risky business. In 2016, the JOBS Act went into effect, allowing private early-stage companies to raise money from all Americans and not just the top 3% (You know the extremely rich or Accredited Investors). Some startups will succeed, and if they get acquired or IPO (Initial Public Offering) at a valuation higher than the one at the time of your investment, you will earn a return.
If you have taken your Risk Appetite into consideration and still think investing in a start-up Cannabis Company is the right move for you there are two sites that can make investing easy, Fundanna and Republic. Both offer Cannabis Companies who are raising funds and seeking investors.
We Have to Leverage Our Consumerism
The reality is that Blacks are consumers, but we purchase depreciating assets. We have all read the statistic that the Black buying power is $1.7 Trillion, but what are we buying? Whether you enjoy a joint in the evening to relax or use CBD Oil to relieve your aches and pains once you consume the product the value is gone. Investing funds, in the fastest growing industry of our time, offers income, capital appreciation, and long-term growth. Buying Pot Stocks gives African Americans equity in companies and offers them global diversification. As a Financial Advisor, I always suggest that investors buy shares of companies that they use and understand. Well, who doesn’t understand Weed?
For More Information About Trading and Investing In The “Green Rush” Check Us Out at http://www.cimonecasson.com