“I’m not a businessman, I’m a business, man!”…Jay Z
I celebrated #420 last year in a somewhat unusual way…I made a very sober decision to purchase stock in companies that were focused on doing “legal” business involving marijuana.
To paraphrase a John Denver song, in 2013, this investment “wasn’t a diamond but a stone”. A decent part of my investment looked pretty burnt.
However, the near flawless legalization process in Colorado changed a lot of people’s minds about marijuana…particularly in the business community. All my stock that heretofore acted like “seeds and stems” started smokin’ and my ROI on my investment made my previous stock home run (buying Facebook at 20) seem pretty minor in comparison. Though my stocks have given back their highs, they’ve settling at a level far in excess of my purchase price.
So…why am I sharing this on a SEM blog?
I made a very rational choice to invest based upon what I perceived to be impeccable business insight and intuition.
If you manage paid search accounts for a living, you have a window into the soul of a business and everything you see and do has implications far beyond your client and agency relationship.
Smart and insightful account managers can look beyond the mechanics of account management and see how aspects of that relationship might reflect greater trends in society. If a rational business insight can be gleaned, it can translated into an actionable investment in equities.
Apart from the examples I’ve shared with you, my first year in dabbling in the stock market has been a somewhat humbling experience and I would not recommend picking stocks without a certain level of experience. However, there are mutual funds and ETFs that cover most every financial sector in existence, and if you got the right vibe and a little cash, you can profit from your rather unique business knowledge.
Now, if I could just remember my login to my stock account…