Morgan Paxhia is the Co-Founder and Managing Director of Poseidon Asset Management. Poseidon was founded in 2013 and is the longest-running cannabis-dedicated investment manager. I am an investor in their Poseidon Dynamic Cannabis ETF (ticker: PSDN) and always enjoy talking with members of the team.
During this interview, Morgan shares his background and provides an overview of the hedge fund, two venture funds, and the ETF they manage. Firmwide they have roughly $150 million in assets under management. AdvisorShares offers four different cannabis ETFs and Morgan explains how PSDN is differentiated from the competition.
We spend time on what he learned in 2022 and then transition into what it will take to survive and advance in 2023. The balance sheet is the most important factor right now, so it is not surprising that Green Thumb Industries is their top holding. Ascend Wellness is the second-largest position and Morgan explains why they like the stock and what others might be missing (Ascend is not in the other major ETFs). We conclude with a listener question in what was a fast-paced hour-long conversation.
To listen, you can click the link here or the tweet below. Twitter Spaces will play on any mobile device or on the desktop via a browser. They are like a podcast but hosted on Twitter.
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