(Bloomberg) -- Michael Milken’s pardon by President Donald Trump on Tuesday was accompanied by a statement praising his “innovative work” in high-yield debt as well as a long list of people the White House said had provided “longstanding support” for the pardon. It proved a veritable Who’s Who of private equity, hedge fund, real estate and media titans. Here are the biggest names:Sheldon Adelson: a major Republican donor and Trump supporter, Adelson is the chief executive officer of casino operator Las Vegas Sands Corp. His wife Miriam also backed the pardon.David Bahnsen: a former Morgan Stanley managing director and wealth management executive who wrote Trump in 2017 urging him to pardon Milken, calling the junk-bond king’s prosecution a result of “a period of class envy run amok.”Tom Barrack: the chief executive officer and chairman of Colony Capital Inc., Barrack is long-time Trump ally. He faced a call from an investor in...
The latest earnings report of Aurora Cannabis (ACB) came in as expected, with results confirming a weak quarter for the company.While the worst appears to be over, a major problem is the lack of clarity in Canada especially, concerning what the actual demand for cannabis is.In this article we'll examine why this will keep the future outlook of Aurora Cannabis and its Canadian peers in the dark, and what it means to long-term investors.Lack of demand discoveryAnyone that understands why socialism never has worked, knows that the primary reason is the resultant lack of price discovery. Without that, economies aren't able to operate in an efficient manner.Something similar is happening in the Canadian cannabis market in regard to demand discovery. What I mean by that is the horrifically slow licensing process that has failed to come close to meeting Canadian demand, has left a vacuum in regard to demand discovery that...
