Anthony Coniglio is here today to talk about how you can invest in cannabis stocks! Anthony co-founded New Lake Capital Partners, a real estate investment trust (REIT) focused on the cannabis sector. Today he's here to discusses the complexities of investing in cannabis! He touches on the challenges and opportunities in the U.S. cannabis market, such as state-by-state regulations, federal restrictions, and evolving consumer preferences. There is potential for medical cannabis, but there is also need for more research to enable broader investment and growth in the industry. Today we discuss...
- Anthony's 30 years of business experience, and how it led him to co-founding New Lake.
- How the cannabis market has garnered attention since Canada's legalization in 2018, with various investment opportunities emerging in both U.S. and Canadian markets.
- Investing in cannabis can involve direct plant-touching businesses (cultivators, manufacturers, distributors) or non-plant-touching businesses (ancillary services, real estate).
- Medical cannabis is supported by a majority of Americans, but research is hindered by its Schedule I status, limiting evidence on its efficacy.
- The Schedule I to Schedule III rescheduling proposal is still pending, with a hearing scheduled for December to address comments and opposition.
- The cannabis industry is highly regulated, with indoor cultivation facilities focusing on optimizing THC content.
- Consumer preferences are shifting towards edibles and drinks rather than raw flower, indicating potential growth areas in the industry.
- Hemp differs from cannabis mainly in THC content, and can be used for various industrial applications, including products with higher THC through legal loopholes.
- The cannabis sector faces challenges due to federal regulations affecting banking and investment, impacting liquidity and institutional involvement.
- There is a need for policy reform to enable better banking services and research opportunities, which could normalize the industry and recognize its significant employment impact.
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Today's Guest: Anthony Coniglio
NewLake Capital Partners President, Chief Executive Officer and Director Anthony Coniglio Anthony Coniglio is the president, CEO and a member of our board of directors of NewLake Capital Partners, Inc. (OTCQX: NLCP), a leading provider of real estate capital to state-licensed cannabis operators. He co-founded NewLake in 2019 and served as its Chief Executive Officer until the merger with GreenAcreage in March 2021. Prior to co-founding NewLake, Mr. Coniglio was the Chief Executive Officer of Primary Capital Mortgage (PCM), a residential mortgage company. Prior to PCM, he was a Managing Director at JPMorgan, leading various businesses, including a start-up platform, to leadership positions and helping grow business line profitability exponentially. During his 14 years at JPMorgan, Mr. Coniglio was named by Dealmaker Magazine as “Top 40 under 40 on Wall Street” and led complex transactions, such as the financial-crisis restructurings for GMAC and Chrysler Financial, as well as AmeriCredit’s $3.5 billion sale to General Motors. Mr. Coniglio has led numerous initial public offerings for REITs and corporations, including MasterCard’s $5.3 billion initial public offering. With more than 30 years of experience, Mr. Coniglio is a proven executive possessing a unique mix of skills that have allowed him to be highly successful in the context of a Fortune 100 company as well as a start-up. Mr. Coniglio is an experienced NYSE board member, serving on the Audit Committee and Special Committee of Atlas Resource Partners as an independent director. In addition, Mr. Coniglio serves on the board of St. Mary’s Hospital for Children, the largest post-acute care pediatric facility in the tri-state area, as chair of the IT & Cybersecurity Committee and member of the Audit Committee. He was a recipient of United Hospital Fund’s 2018 Distinguished Trustee Award. Mr. Coniglio also serves as an Advisory Board Member, Speaker, Volunteer and Coach. Mr. Coniglio received a B.S. in Accounting and Finance from the State University of New York, College at Oneonta. Mr. Coniglio was a Certified Public Accountant during his tenure at Price Waterhouse, LLP.
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