Investors looking for unusually high returns are flocking to the cannabis sector, which is undergoing unprecedented change from its historically informal nature to a more corporate format. The scheduled legalisation of the drug’s recreational use in Canada next month complements its creep across the US. It is now legal for medicinal purposes in about half the states and green-lighted for recreation in nine. This week’s court decision legalising it for private, personal use in SA means we’re not far behind. Canopy Growth, listed on the Toronto Stock Exchange under the ticker WEED, attracted a $4bn investment last month from Constellation Brands, the maker of Corona and Modelo beers. Its website is all product and process innovation, market execution and passion for leadership, sounding peculiarly as though McKinsey had got hold of the process of providing you with your Camberwell carrot. Medical applications are a major focus, with progress reported in improving quality of life for p...

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