I'm usually conservative when it comes to investing...
Some of the folks here at the office even tease me about it.
But my "sleep well at night" approach is my way of delivering fantastic research that helps you make money, understand investing opportunities, and have a better retirement.
For months, readers have asked for advice on how to make money in the cannabis industry.
But I'm no cannabis expert.
Instead, when it comes to cannabis, my publisher Stansberry Research patiently waited for both the right time and the right talent to give you the biggest advantage in this still-very new-market. It has the potential for big gains... but also big risks if you don't understand how to invest safely.
And I'm glad we made the decision to wait.
Back when cannabis stocks were going "vertical" last year, it was clear to us that these stocks were in a full-blown mania. And as you well know... whether it's tech stocks in the late 1990s, housing in the mid-2000s, or bitcoin in 2017, all manias end the same way... disaster.
So we published a controversial issue of the Stansberry Digest, explaining why it was exactly the WRONG time to buy.
And a month later, plenty of these highflying stocks came crashing down, just as we predicted.
We've been keeping a close watch on cannabis ever since. We knew a time would come when prices would level out... the industry would begin to boom in earnest... and the worthy cannabis companies would start to rise to the top.
And today, thanks to our newest recruit, we have reason to believe that time is now.
After six months of searching, we've hired a senior analyst who is one of the most impressive people I've ever interviewed, Thomas Carroll.
Thomas's background is in health care. As you know, I spent years on Wall Street and in the medical field.
So I didn't pull my punches.
I can tell you that the man you are about to meet is one of the smartest analysts I've met over my more than 30-year career.
If I was going to personally invest in a market like cannabis, Thomas is the exact analyst I would turn to for the best insights.
I am confident we have found the right analyst to lead this effort, and that now is the right time to begin offering this information to our readers.
Thomas has my complete trust and support. I encourage you to give him your full attention and listen to what he has to say.
That's why I hope you'll join me next week as I watch our first-ever Cannabis Investing Event on March 27 at 8 p.m. Eastern time.
Thomas plans to detail the incredible shakeup in the world of cannabis investing... And how you can keep from missing your chance to invest in cannabis before the biggest gains are gone.
Plus, just for signing up, you'll get a FREE copy of The Marijuana Industry Insider's Playbook.
Attendance is free, but you need to reserve your spot.
Q: [Tax-loss harvesting] came up in 2016 and I used it OK. But in 2018, I found out you can't do this with a Traditional IRA now. So I sold three losers for over $3,000 and was told, by Fidelity, that I couldn't use these losses to lower my taxes. My question is why in the heck did THEY not make a better effort to inform us of this fact? They even had an article about tax-loss harvesting, recently, and I saw no disclaimer about Traditional IRAs being excluded. Maybe I missed it.
Had I known, I would be doing a little better with those three stocks. I feel awful. Please advise. I feel like they owe me 300 free trades at least for this situation. – P.T.
A: For the losing positions that you sell before the end of the year, you can deduct up to $3,000 in booked losses on your taxes (and you can carry over additional losses to future years' taxes). These losses reduce your taxable income. They can also offset capital gains.
But tax-loss harvesting is typically a bad idea for retirement accounts because the money is already tax-deferred. (Yes, there are ways to claims losses on retirement accounts, but it gets complicated and is rarely worthwhile.)
I'm not shocked your broker didn't make it clear to you. We've seen other brokers with articles on tax-loss harvesting that only briefly mention the retirement account exception, if they mention it at all.
This is a tough lesson to learn. But ultimately, you are responsible for your wealth. Not your broker.
Don't feel awful. Simply accept it as $720 worth of "tuition" ($3,000 at a 24% tax rate). When you accept ownership of your mistakes, you're more likely to investigate further the next time your broker shares information.
Q: Am I allow to share articles? – D.T.
Q: Hi Doc, I'm taking a daily aspirin, on my doctor's advice. But now I'm hearing you shouldn't anymore if you're older. I'm in my 70s, relatively healthy. Should I quit it or keep taking it? Thanks for all you do! – A.W.
A: Earlier this month, the American College of Cardiology and the American Heart Association made a stark change... They no longer recommend a daily aspirin for older folks who don't have a history of heart disease and aren't at high risk of developing heart disease.
Several years ago, the Food and Drug Administration (FDA) also rejected the old advice that people should take a daily low-dose aspirin for "primary" prevention of heart problems. The agency issued a report last month stating that scientists have failed to provide hard evidence that aspirin therapy has any benefit for those without cardiovascular problems.
Old medical advice often recommended a daily low-dose aspirin for older folks. The idea is that aspirin "thins out" the blood – actually decreases the stickiness of the platelets – enough to help it pass through narrowed arteries (though not as much as a prescription-strength blood-thinner like warfarin).
But we've known for years this advice is not always useful and is sometimes harmful. Aspirin-induced blood thinning can cause internal bleeding, particularly in the sThomasach. Without much proven benefit so far, taking aspirin to prevent heart attacks may not be worth the risk.
The problem is that aspirin therapy does help some folks. If you have already suffered a heart attack, it means you have had a clot or two obstructing part or all of an artery in your heart. Thinning your blood helps in that situation. Likewise, if you have a history of high cholesterol or other risk factors for heart disease (such as obesity, smoking, and physical inactivity), it may be an option you should discuss with your doctor.
Aspirin, as we said, does have some negative side effects... One of the worst is upper-gastrointestinal bleeding.
To avoid this issue, do what I do. I look for aspirin with an enteric coating. And I only take one 325-milligram (mg) aspirin every 10 days or so. The effects last that long, so you don't need to take one daily.
And if you're looking for a proven and natural way to lower your heart-disease risk, cut the "white killers" (white bread, white sugar, white rice, and potatoes) from your diet, take regular walks, and practice yoga.
Have more health myths you'd like us to debunk? Send them our way... [email protected].
What We're Reading...
- Did you miss it? It's time to rethink everything you believe about cannabis.
- Something different: A meteor hit Earth... and nobody saw it coming.
Here's to our health, wealth, and a great retirement,
Dr. David Eifrig and the Health & Wealth Bulletin Research Team
March 22, 2019