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A roundup of what The Globe and Mail's market strategist Scott Barlow is reading this morning on the Web

I respect that many Canadians have strong feelings about marijuana legalization, but I really don't, beyond hoping for a resolution so we can move on to issues besides the approved methods to stupefy ourselves.

In investing terms, however, a CBC report Monday details a number of health concerns raised by Dr. Dianne Kelsall, editor in chief of the Canadian Medical Association Journal, that underscores market risk in the sector,

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"The editorial takes issue with several aspects of the bill, which: Sets the minimum age to buy recreational marijuana at 18. Kelsall calls that too young given evidence suggesting that the human brain doesn't mature until about age 25. Allows people to grow pot at home, which Kelsall said increases the likelihood of diversion to young people. Lacks limits on potency of strains despite increased risk of harmful effects with higher-strength cannabis."

There are likely to be layers upon layers of government regulation on marijuana sales in the end and this could potentially limit sales growth and profits.

"Medical journal calls for tighter rules on legal pot to protect youth" – CBC

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Citi analyst Edward Morse argues that the recent sell-off in crude prices is "misguided and misplaced,"

"The strong sell-off accompanying the 24-producer-country agreement to extend output cuts … looks misplaced and misguided, presenting an unusual buying opportunity. Market expectations got ahead of reality once Saudi Arabia and key GCC countries agreed to extend the 4Q'16 agreement by nine months from expiry at end-June. Citi continues to expect a strong rebound in oil prices … and a boost to US exports to Asia."

I am personally more inclined towards Macquarie's wait and see view,

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"In our view, the upward momentum we expect will require inventory draws in high visibility regions. The global oil market appears on track for draws of 89 KBD in 2Q. LT we maintain a bearish view, as easy supply growth creates 1+ MM BPD surpluses in 2018."

"@SBarlow_ROB Citi: oil sell-off 'misplaced and misguided'" – (research excerpt) Twitter
"@SBarlow_ROB Macquarie: crude rally will require draws in 'high visibility regions ' " – (research excerpt) Twitter
"Oil slips as more U.S. drilling outweighs OPEC-led cuts" – Reuters

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Reformed Broker Josh Brown lets his hair down a bit with an interesting and entertaining rant on economic abundance,

Facebook is free. Twitter is free. Snapchat is free. Instagram is free. Youtube is free. Video game apps are free. Texting is free. Sexting is free. Skyping is free. Chatting is free. Why would you spend money on anything? … Endless entertainment and content, for almost nothing… Even money is free. The people and firms with the least need to borrow it can borrow it with abandon. Apple can have as much money as it wants, virtually free. They have no idea what to do with it… Then what? There is nowhere to put the money and no will to risk using it for the future. The electorate is old. They don't care about the future. They don't have one, just a present. We live in their basement. We live in their extended past."

"Abundance" – Brown, Reformed Broker
See also: "The "I've paid in all my life" fallacy econ.st/2s52v6u " – The Economist

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Tweet of the Day: "@michaelbatnick Am I an investor or simply a gambler? pensionpartners.com/welcome-to-the… " – Twitter

Diversion: "'This is not the end': Using immunotherapy to target genes gives cancer patients hope" – Washington Post

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