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Measure 8 Investor Letter - February 2023
February 2023 - Cannabis
Measure 8 Full Spectrum Fund returned -2.72% for February 2023, compared to -11% for the Harvest MJ ETF (“MJ”). The new year has offered robust market returns and significant outperformance (especially
by 2022 laggards), but major indices fell back last month. Investors were faced with consistently stronger than expected economic data in February, and this continued vigor led to higher rates across the yield curve, a stronger dollar, and a re-pricing and delay in the outlook for eventual rate