Aaron Edelheit
@aaronvalue
Followers
12,445
Following
901
Media
337
Statuses
21,656
Subscribe to newsletter: CEO of Mindset Capital. Author of The Hard Break: The Case for a 24/6 Lifestyle. Advisor to $TOKE
ÜT: 33.790304,-84.319793
Joined April 2008
Don't wanna be here?
Send us removal request.
Explore trending content on Musk Viewer
Rosé
• 612332 Tweets
García Luna
• 438922 Tweets
Yahya Sinwar
• 310710 Tweets
Bluesky
• 229009 Tweets
AI学習
• 218404 Tweets
ブルスカ
• 199310 Tweets
スーパームーン
• 187955 Tweets
#わたしの宝物
• 182842 Tweets
ブルースカイ
• 182616 Tweets
#يحيي_السنوار
• 157245 Tweets
Tyler
• 92887 Tweets
タイッツー
• 91988 Tweets
ALRIGHT TPOP STAGE
• 71991 Tweets
Lealtad
• 56156 Tweets
غير مدبر
• 42438 Tweets
Rafah
• 34554 Tweets
HAPPY FOURTH DAY
• 33136 Tweets
Monsalve
• 32388 Tweets
#OurPreciousFOURTHTurns20
• 31423 Tweets
#Hamas
• 28918 Tweets
対象作品
• 23329 Tweets
ابو ابراهيم
• 21104 Tweets
冬月くん
• 19943 Tweets
Obolo
• 18153 Tweets
ふまふさん
• 13498 Tweets
#لن_تبقي_لكم_دبابات
• 13063 Tweets
Gisela
• 12672 Tweets
بيان المقاومه
• 10842 Tweets
復讐のレクイエム
• 10836 Tweets
くじらぐも
• 10581 Tweets
Let me tell you of a story about Charlie Munger. I had the opportunity to meet him & spend time with him once in 2007. On a whim, I decided to call him in October of 2008 to ask for advice. I had no idea if he would call me back. Well, he did call me back and I was grateful. /1
27
176
1K
Charlie Munger barely knew me, but spent time with me & calmed me down at a critical time and I will be forever grateful. Warren Buffett and Charlie were working on bailouts and saving companies at the time, but he was so generous with his time. How can you help others today? /4
15
21
518
Twitter is a Value Stock. My latest research report on the value investment case for $TWTR:
25
47
391
Subscriptions are coming to Twitter. The team working on it is code name Gryphon. Buckle up the stock is about to go on an epic run. Hat tip to alli on VIC for finding this:
28
92
391
Charlie Munger told me that bear markets & drawdowns of 40-50% are the price of admission for being an investor and that everyone goes through it. He related his own experience of down 50%. Then in the middle of the call, he said, “I will call you back, Warren is on the line.” /2
1
26
261
Here is Verano’s store in NJ. People literally lined up into the woods. $VRNOF. Thanks Jeff Hoffman with Marathon Partners for the videos!
16
29
217
This exchange is amazing and says everything in how Miyamoto views the world:
Q: What kind of boss do you think you are?
A: You mean, if I were a video-game boss?
The interviewer meant being an actual boss at work...
1
27
201
My interview who breakout money manger Fred Liu
@HaydenCapital
is up more than 164% this year (I think it might be 200% by now). I learned so much for my talk with him and am grateful for his time.
8
21
194
Tough day in the market and seems like the end of the world, right? I know one father of four who just had a stroke & is in bad shape. I know another guy who is about to be a father who has cancer that has metastasized everywhere. Your health is your wealth. Go hug your kids.
9
7
189
I looked at my phone & wondered if Charlie would call me back. And 15 minutes later he did & spent another 10 minutes talking to me, calming me down. A few weeks later, he sent me a list of money managers with their performance circled, showing me that everyone was suffering. /3
1
9
193
The market is really good at humbling investors. Be nice, you never know when it is your turn to be humbled.
15
9
187
In 1999, $MSFT grew revenue by almost 30% and saw operating margins of 50%. In 2000, despite a recession and the dot com collapse, revenue still grew 16% with a 48% operating margin. Didn’t stop the stock price from collapsing by 50%. Repeat after me: Valuation matters.
14
25
188
The CIO and founder of a $7 billion fund saying he thinks that US cannabis is a slam dunk thesis and that global cannabis sales will increase 5X seems like an important tweet to me.
12
20
177
I have exciting news. I have been hired by
@MebFaber
and Cambria to be the research consultant to their cannabis ETF $TOKE. The goal is for $TOKE to own the best run cannabis stocks, be very open and transparent with investors and below $50 million in assets, there are no fees.
37
14
174
As you watch this line wrap around this NJ $CURLF store on the day that adult use is allowed, think about how absurd it is that cannabis stocks have been sold every day ahead of the entire Northeast about to go fully legal. This will happen in every state coming online…
21
33
168
Today was the deadline to register for the Democratic Primary for the U.S. Senate in New York. Senator Schumer now has no reason to fear a progressive re-election challenge, & I think SAFE banking now has better than even odds to pass in the next 90 days.
25
29
159
Imagine a $1 billion revenue opportunity that suddenly unlocked itself and the beneficiaries were four or maybe five companies. One beneficiary may see its cash flow go up by 50%. Then imagine that these stocks fell instead of rising. My latest post:
21
37
151
This is amazing: “Tyler Cowen is donating all earnings from this book to a man he met in Ethiopia earlier this year with aspirations to open his own travel business.”
You can pre-order *Stubborn Attachments*, published by Stripe Press, here:
5
40
271
3
27
149
I highly recommend investors research and read about the history of cannabis prohibition and how cannabis was added to the Control Substances Act. It has nothing to do with cannabis and everything to do with targeting minorities and people opposed to the Nixon administration.
14
32
143
I have a colonoscopy scheduled next week and frankly I'm grateful at how well prepared I am for the experience by being invested in cannabis during the last 18 months.
23
4
150
$MSOS has traded almost 700k shares in the after hours. Just in case you didn't know what has started.
8
12
144
The potential for a mania in cannabis stocks is very high right now. No one is able to invest. The doors may come crashing down and these stocks can be very illiquid. I was buying across the board today. I think we just started and people have not processed what this means.
22
13
145
These angry old white men makes me appreciate Warren Buffett's optimism so much more. I keep promising myself to stay positive as I age.
8
34
138
I learned a lot from my interview with
@RepNancyMace
. Her own internal polling shows that only a single digit % of conservative SC Republicans oppose cannabis. If the Republicans win the House, she is in line for a committee chair, & she has a clear plan:
24
21
140
How is it that no one is discussing how $AYRWF somehow got a bank to loan them money at $4.625%?!
17
8
141
TIL,
@rsandler21969
& Eminence Capital launched a new fund to invest in publicly traded US cannabis stocks this month. $60 million target, up to $200 million in capacity. It is a great to see such a successful investor jump into the great American growth story of cannabis.
11
12
135
Very excited to share that I interviewed
@RepNancyMace
today. The recording should drop tomorrow! Let me give you a preview: I was completely blown away by her vision, determination and strategy. I could not have been more impressed by her and what she has planned.
12
8
137
OMG, this WSJ article about a pregnant woman with COVID and her doctor fighting to save her and her baby is just gut-wrenching. A must read:
5
54
132
Morgan Stanley has banned clients from sending money to my cannabis fund. Somehow one investor's capital got through & now MS is now requesting a recall. MS's financial crime division is on the case! This is the state of Federal banking and cannabis.
22
16
137
Bought more $NTDOY this morning. 24% of its market cap is in cash at these levels and it trades at 11 times trailing earnings, excluding cash. Dividend increasing. The downside appears to be quite low, upside uncertain with lots of optionality. This is just how I like it.
11
5
133
How crazy is it that Nordstroms can only borrow at 13%, but Argentina can borrow for 100 years at 7.9%? I wonder which market might be wrong
14
30
126
The idea that the DEA goes against the HHS after what they just released seems preposterous, especially in an election year.
14
13
128
The next 90 days are going to be really fascinating to watch in cannabis. Buckle up.
14
8
126
Goldman Sachs in a research note yesterday mentioned cannabis in the same sentence as "penny stocks, celebrity SPACs, and ultra short-dated call options." My opinion is that buying cannabis stocks like $GTBIF and $VRNOF is value investing in well managed & professional companies.
14
4
127
Cannabis is really only opposed by the elderly. Look at the Ohio exit poll numbers for who was in favor of legalization. Shocking disparity by age. And this is why cannabis legalization is inevitable. 84% of 18-29 year olds and 69% of 30-44 year olds are in favor of legalization.
16
19
123
This is the first time the FDA is admitting that cannabis has medicinal value and benefits. Truly a historic moment. Page 99 starts with the FDA analysis. Thx Kyle Mathews for pointing out the FDA angle to me.
6
19
121
Can someone tell me why a company with 218% year over year growth and 54% sequential growth with 30% EBITDA margins is trading at 7 times next year's cash flow estimate? $AYRWF is crazy cheap in my humble opinion. Cannabis is the new Saas.
14
12
119
Let me just say, that I have been very wrong on cannabis for the past 10+ months. Take what I'm saying with a grain of salt, but the potential for MEME type returns on these stocks is very high right now. I cannot imagine being short any cannabis stock right now.
17
4
118
Reminding myself that 18 months ago I wasn’t a moron and right now I am not a genius.
8
2
115
With the latest news that cannabinoids have the potential to treat COVID, this is your friendly reminder that the Federal government classifies cannabis as a Schedule 1 drug with no medicinal value.
3
19
113
30% of the cannabis greenhouse licenses in California didn't renew their license last month. 👀 Whoa.
18
11
107
I am a glutton punishment, so I was buying today. But then, I think if you can't buy stocks trading for 3-6 times this year's EBITDA growing at 40% plus, you probably shouldn't be in the markets. $VRNOF $AYRWF $GDNSF
7
5
112
It's as if Trump asked
@todd_harrison
to craft his cannabis post tonight, it is so wildly bullish for the cannabis industry. States rights, SAFE banking and schedule 3 support. And yes, I know Todd, you want descheduling just like me. But still, did you write that for him? 😜
9
12
108
$NTDOY is quickly turning into an augmented reality company trading at 10-11 times earnings, ex-cash and investments. Mario Kart Live is another AR example. And remember they own 20% of Niantic.
10
13
108
"As I said in March, don’t underestimate
@RepNancyMace
and now I would add: don’t underestimate how her win may embolden other Republicans to come out in favor of cannabis reform." My latest post:
Republicans Can Win on Cannabis
The Importance of Nancy Mace’s Primary Win
mindsetvalue.substack.com
9
18
106
How in the world does $VRNOF trade at single digit cash flow multiples with 54% EBITDA margins? $35 million of free cash flow in one quarter?! What a well run company.
$207M in revenue.
106% growth YoY.
54% adjusted EBITDA margins translating to $111 million.
1M+ sq ft. of active cultivation & 89 dispensaries.
Incredibly proud of this team.
Join us for the full Q3 results today at 7:30 AM CT:
21
20
230
11
11
104
This morning we get news from the Financial Times that the White House Drug Czar is studying state level cannabis legalization and harm reduction and now we get news of the DOJ will chime in on cannabis. Sounds like the White House is finally starting to move on cannabis.
12
12
107
I love
@GeorgeArchos
commenting that with current growth rates, in 5 years $VRNOF could buy tobacco companies instead of the other way around! I love the ambition! cc
@todd_harrison
8
12
98
I had the opportunity to interview star money manager Fred Liu
@HaydenCapital
and plan to release the interview through my newsletter early next week. Fred was up 164% net of fees through September. With $SE soaring today, he is up much more.
3
5
101
In May of 2020, at $29.88 per share, I called $TWTR a value stock and wrote this report: I still think it is a value stock (not in the traditional sense) and cannot believe how much progress the company has made in nine months. I remain very bullish.
8
0
101
$GTBIF is a machine. Every cannabis insider I connect with talks positively about the company, its positioning, management and upside. Quarter in and quarter out, they execute.
15
4
99
Now that I’m launching a new fund to buy cannabis stocks. I have one minor request to the market. Can you please keep selling US cannabis stocks?
26
2
100
Exciting news! $VRNOF's
@_AaronMiles_
is going to join me on Twitter Spaces tomorrow (Wednesday) at 5pm eastern/2pm pacific to discuss the big merger today with $GDNSF growth. Let me know what questions you want answers to!
15
4
97
Here is my two cents on the $VRNOF $GDNSF merger. It is a home run for all involved. Verano is one of the best operators and now has arguably the best MSO footprint. They get a company that was starved for capital but had a great footprint. Could not be happier.
13
6
93
I’m an open book and try to share. I make mistakes like everyone. All I ask is that you are respectful. It’s ok to disagree, just be respectful and be constructive. To everyone who can’t handle that, please stop following me or you will be blocked.
10
0
97
Call me crazy, but I love when fundamentals diverge from stock trading. And yes, I’m looking at you cannabis stocks.
7
4
96
It’s like I’m back on the courthouse steps in Gwinnett County Georgia in 2011. But this time, the generational opportunity is cannabis. I’m partnering with Doug Brien, the former CEO of Starwood Waypoint for a new cannabis dedicated fund. My latest post:
18
14
96
After 25 years of investing, when stocks don't go down on bad news, it means you are at the bottom. IMHO, the action in $VRNOF could not be more bullish. Last night, I thought the stock might close down 10% today.
18
4
98
Why does one of the best run US cannabis companies have the lowest valuation and trade at a 50% discount to its peers? My Q2 letter:
15
12
94
A mom gets passed up for promotion at a govt job, decides to start a moving company. She gets laughed at, then builds it to over $400 million in revenue. This is great:
2
22
94
This week we may get Biden cannabis pardons, Schumer’s long awaited cannabis bill and a new DOJ Garland memo. (Crazy, fun speculation from someone, me, who has been wrong before)
13
6
90
I will say it until I'm blue in the face, but the current environment is just so incredible for the leading MSOs like $VRNOF. The smaller players are locked out of the capital markets & Big Tobacco, Alcohol, CPG and PE firms can't participate. I've never seen anything like it
9
8
90
I’m old enough to remember when you couldn’t value $NTDOY’s cash pile because investors would never see it. The Apple-ization of $NTDOY continues and for some reason most investors and analysts are blind to it
Wow, it's that rarest of things -- an actual Nintendo share buyback!
3
12
84
9
5
88
We have have two Presidential candidates that may start competing over who is more pro-cannabis.
I'm not sure the market or investors have fully processed just how different this time may be after living through all the Charlie Brown moments of the last 3-4 years.
12
10
91
I just hit 2,800 subscribers to my newsletter that I started one year ago with just 40 people. I’m very grateful for all of the follows and subs. I’m also thankful for the feedback and the critiques. I’m absolutely loving writing the newsletter. Thank you to all!
10
0
87
Appraisal value of one TX mall:
2001: $144 million
2016: $46 million
Feb. 2017: $34.5 million
Sold for: $18.1 million
How is this stat buried in a story about online auctions?!!!
2
28
86
Amazed at the valuation difference between US publicly listed companies and the rest of the world. Almost every stock I'm looking at is outside the US at this point. Really, really large gap.
11
6
86
I'm told that the line at the Curaleaf NJ store that I showed this morning is now at least 50% longer than this morning. Sounds really bearish!
6
5
83
It is strange to me how much focus is on SAFE and not on the rescheduling/descheduling process. Maybe its just that SAFE is a much more public process. My focus is the scheduling review. And I believe there will be a big reveal by year end.
23
6
84
I admit to the overboard $VRNOF love fest today, but I want to own the stock for a very long time, this was a very important, strategic acquisition. As this is my largest cannabis position, I could not be happier. Also, how is this not everyone's largest cannabis position?
24
1
85
It was so fun to hang with
@grahamfarrar
today. Can’t wait to share what we discussed with everyone! $GLASF
9
4
84
Remember all that matters is SAFE banking not happening. This is the end, it’s all over for cannabis. Panic selling into tax loss selling helps end the pain. And please understand that there will never be positive cannabis news ever again. 😜
20
1
83
Last week started with disappointing news that the DEA essentially delayed rescheduling by setting up a Dec 2nd hearing that pushes any rescheduling into 2025. But that was overshadowed by comments made on Saturday by Trump that he was in support of decriminalizing cannabis.
8
8
85
The cannabis space is so inefficient from a price discovery basis that you can earn a 40-50% IRR arb’ing the $LHSIF and $AYRWF transaction. And you can also compare $AYRWF at 6 times cash flow versus its comps at 15-20 times cash flow. Value investors dream. So much opportunity
3
8
85
I posted my Charlie Munger story in the beginning of COVID when it felt like the world was ending. I will never forget his generosity to me. May his memory be a blessing. I hope you enjoy it.
Let me tell you of a story about Charlie Munger. I had the opportunity to meet him & spend time with him once in 2007. On a whim, I decided to call him in October of 2008 to ask for advice. I had no idea if he would call me back. Well, he did call me back and I was grateful. /1
27
176
1K
6
9
85
My portfolio might be the most eclectic it has ever been with a Mexican homebuilder, a French gambling monopoly, a microcap franchise staffing company and US cannabis companies. It’s so fun to follow all these various, diverse stocks.
10
0
84
Some investors believe that they will be able to see when cannabis legalization is about to happen and that they will be happy to pay 20-30% higher stock prices. What if instead prices move so fast, stock prices are up 100-200% or even more? I think people could be shocked.
13
8
82
Kamala Harris nodding her head to Kimmel saying rescheduling is happening in two months. Remember the questions and answers on talk shows are practiced and scripted in advance:
7
20
81
2022 cannabis: I would highly recommend investors pay attention to what is happening on a state by state basis and ignore what is happening on a Federal basis. I'm seeing massively positive movements on a state basis and I'm betting we might see something from the Federal Courts.
5
4
82
Because cannabis rescheduling slips into next year, if Trump becomes President, who do you think will take credit for rescheduling cannabis? I’m just dumbfounded how Democrats let their rival grab such an easy and popular win.
13
6
81
@HaydenCapital
ended the year up an incredible 222% net of fees in 2020. Star manager of the year. Here is my interview with him when he was only up 164%!
2
7
77
One of the most underreported stories in business is how people around the world are drinking less alcohol. And at the same time more and more people are consuming cannabis. The alcohol industry does $260 billion in revenue in America alone.
4
13
81
So many people are trying to focus on calling the direction of the market, they are missing out on the incredible dispersion of values in the market right now. So, let me tell you a story of 1998-2002.
4
15
78
At a time when most investors are paying attention to Schumer, Booker and Congress, I'm busy watching New Hampshire. If NH moves forward with state run cannabis stores, I cannot imagine Federal illegality survives the Federal Courts.
12
5
77
Whoa. $AYRWF CEO just said in response to why they are moving to Florida: "In the future the Liberty Florida assets will be worth more than our entire market value today”
2
9
78
Dear journalists: What in God’s name does cannabis legalization for adults over 21 have to do with illicit teenage use? Teenage use does not increase with legalization so why does every anti-cannabis article lead with teenagers?
12
10
80
What scale and size looks like in cannabis. This is the future.
Here is a view of what things look like in the new greenhouses too :)
10
4
59
16
4
73
It's fascinating to me how $NTDOY margins are soaring, they are just in the first inning of monetizing their IP, have absolute hit in the Switch and yet investors are not totally sold on the outlook. The stock still sells for around 12 times earnings after cash and investments
7
7
75
$AYRWF started out as a $125 million SPAC. Now three years past the de-SPAC, AYR is forecasting $800 million in revenue & $300 million in EBITDA. I’m so completely amazed by
@JonSandelman
@AyrJen
and
@jamiemendola
.
5
3
74
The potential successor for Pelosi is very pro-cannabis and specifically for de-scheduling cannabis.
4
13
76
There are many ways to lose money in an investment. But one of the most pernicious avenues to underperformance is via share dilution. It’s like the silent killer of shareholder returns. My latest post is on $TWTR:
15
7
75
Just a friendly reminder that Democratic Governor Beshear who just won re-election in the very conservative state of Kentucky is very pro-cannabis. The results tonight from Ohio, Virginia and Kentucky are all wins for cannabis. It’s almost like it is a popular issue with voters.
6
5
74
I'm about to find out which is less enjoyable: Investing in cannabis stocks for the last year or getting my first root canal. Stay tuned for the definitive answer!
16
3
72
I believe the HHS announcement is akin to the national anthem being played in baseball. The game has not even begun. I personally think it is insane to be selling stock of any halfway decent cannabis stock here. Do the work, do your own due diligence.
4
8
72
No big deal just a $78 billion market cap company casually mentioning that they are exploring entering the cannabis space:
15
8
74
$GLASF has traded a few thousand shares after getting full approval for the largest cannabis greenhouse in the world. This will give GH a cost advantage unrivaled in the industry and CA. Not one analyst report, no news stories, but enormous news even if no one pays attention.
7
6
72