Investors in the broad market were pleased to see a turnaround today. Energy stocks showed a rally, overshadowing the fact that Cyber Monday showed lower returns than 2013. In hedge fund news, a record number of funds have closed their doors on continued disappointing returns. Yet, Goldman Sachs is reporting an anticipated growth for the S&P to cross over the 2100 barrier in 2015. Today, the S&P 500 closed up 0.66% to 2,067.
Daily Positive: American Cannabis Company (OTCQB: AMMJ) won two licenses in Minnesota. Another sign that this company is quietly working toward success and is far outperforming where the market has been seeing them.
Daily Negative: The Benzinga Index has now turned negative on the year after its stratospheric rise in Q1. The industry has made tremendous progress this year, yet the public market is not reflecting this action.
We are up in Washington state today for another due diligence trip, meeting with some great teams who are overseeing promising projects. It is nice to take a step out of the market and get a hands-on experience with the industry. We know the markets will improve, but taking these trips and meeting face-to-face with the people who are shaping the future of this industry is a good way to stay focused on the big picture.