Any idiot can be a blue chip investor. But it takes audacity to double down on alcohol, tobacco and marijuana, as Dan Ahrens has. Getting ahold of AdvisorShares’ Chief Operating Officer Dan Ahrens was a bitch. Not Beyoncé hard, but the dude is busy and for good reason. On April 16, just in time for 4/20, Ahrens had done what seemed like a pothead’s fever dream: He announced the public trading of AdvisorShares Pure Cannabis ETF with its totally genius ticker symbol: YOLO. The YOLO ETF, or exchange-traded fund, is the first listed, actively managed American fund expressly focused on making your money grow via investing in cannabis equity securities. Which means it went through a full, regular approval process with the Securities and Exchange Commission and was preapproved by its custodian bank, the Bank of New York Mellon. Something that can’t exactly be said about its nearest competing fund, ETFMG Alternative Harvest ETF, which must blindly follow an index. |