You may love weed, alcohol, and tobacco, but would you also like to invest in those things? AdvisorShares thinks you will. The actively managed exchange-traded funds company recently launched AdvisorShares VICE ETF, the only ETF solely concentrating on companies associated with alcohol, cannabis, and tobacco.
Dan Ahrens is a Managing Director and Portfolio Manager at AdvisorShares, and he joins Cheddar to explain why investing in the VICE ETF is a good idea. Ahrens explains that those three industries tend to be stable despite the general market volatility. Ahrens is also bullish on the future of cannabis. He believes the legalization and federal recognition of the substance will only expand.
As for alcohol, there has also been growth in that field. The alcohol industry had supplier revenue increase by 4.5% to $25.2 billion last year. Ahrens anticipates the field to continue improving.
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A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
