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Morgan Stanley: rich investors wary of legal marijuana

Submitted by Marijuana News on Thu, 09/10/2015 - 01:01

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America’s legal cannabis industry will belong to a minority of Americans with a large appetite for risk. The rest of us will watch from the sidelines.

 

 

That’s the verdict from massive financial firm Morgan Stanley, which released the results of a poll about investing in marijuana.

Even if marijuana were legalized in California, and throughout the U.S., about 69 percent of Americans would not invest. The average cannabis investor is going to be 65 and older, Democrat and relatively rare.

Morgan Stanley polled 1,003 “high net worth” investors age 25 to 75 online.

“Two in three (65%) San Francisco-area HNW investors are not at all likely to invest in the marijuana industry where it is legalized in the next 12 months; another one in five (20%) are not too likely. Imagining for

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