On this week's Stansberry Investor Hour, Dan and Corey welcome Aaron Edelheit back to the
show. Aaron is the founder and CEO of private investment firm Mindset Capital. He joins the
podcast to talk about his investing philosophy... the importance of relieving mental stress...
and all things cannabis – from its "great replacement" of alcohol to its legalization in more
and more states.

Aaron begins with a story about how he received advice from the legendary Charlie Munger
on the "price of admission" of being an investor. He explains that this advice made him
reflect on his own strengths and realize that he wanted to exclusively do long-term investing
rather than trading. This leads to a conversation about investor psychology and mental
strain. Aaron shares a few tips for relieving the anxiety surrounding investing, from turning
off your phone and computer one day a week to doing hot yoga. (1:37)

Next, Aaron talks a bit about his investing background, his career path, and how he finds
opportunities where others aren't looking. Today, he believes the big opportunity is in
cannabis stocks. He explains that certain names in this industry are breaking out despite the
lack of federal reform. Aaron also drops a non-cannabis name that he's interested in and
gives an alternative perspective on value stocks. (22:44)

Finally, Aaron compares today's investing landscape with that of the 1990s. He shares that
there's much more financing of private companies today, which stops them from going
public for longer (if at all). After, Aaron makes his case for cannabis stocks. He believes that
they will eventually steal market share from drug companies and alcohol producers once
more people realize the benefits and switch over. (40:54)