Manager says marijuana business is about much more than smoking pot

Jason Wilson, manager of the ETFMG Alternative Harvest fund (ticker MJ) says that investors who believe that the investment opportunity in legalized marijuana is from pot shops and people smoking dope are missing the much broader uses of cannabis and its potential in pharmaceuticals and biotech business and more. While the small names have attracted attention of risk takers, he says sticking with established companies -- and looking at supportive businesses -- is a way to reduce the Wild West elements of the industry. Also on the show, Dave Lamb, head of closed-end funds for Nuveen talks about how municipal bonds have rebounded sharply but haven't recovered pre-pandemic highs -- unlike investment-grade corporates -- making them attractive now, Davis Martin of The SPY Trade of the Day discusses how the market's movements are being dictated by moving averages, and David Norris, head of US credit at TwentyFour Asset Management covers the credit business and how it has responded to the lower-for-longer interest-rate environment.