(This is an abridged version of a story that appears in the April issue of Marijuana Business Magazine.)
As a frequent contributor to CNBC, Tim Seymour is the face of cannabis for the business news network.
He also is the owner and manager of the Amplify Seymour Cannabis Exchange Traded Fund, a New York-based company that opened for business July 23.
Amplify, which trades on the New York Stock Exchange as CNBS, has roughly $7.5 million in assets and 28 holdings. The ETF cannot invest in multistate cannabis operators because marijuana remains illegal at the federal level in the United States.
Seymour, who also helps manage JW Growth Fund, a marijuana hedge fund with assets of roughly $300 million, said he entered the MJ market because he sees “the macro elements of investing in the cannabis sector as similar to emerging markets.”
“It’s not that I’m disinterested in the social and cultural aspects,” he said. “But the legislative changes – both in the likes of California, Canada and Colorado, originally, but also now around the world – that is interesting.”