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Monitor & Adjust

The Paxhia, Managing Partners, Poseidon Asset Management | August 5, 2019

I grew up sailing with my brother. When Morgan and I decided to partner in 2013, we named our asset management company after the Greek god of the sea. Poseidon Asset Management is a dedicated cannabis fund. Because the industry is so new, navigating the unknowns and unpredictables is like navigating the conditions of the sea. It is critical to continuously monitor and adjust. In sailing and investing, when something starts to go wrong, things accelerate in that direction quickly. Unless you have a clear line of sight and pay close attention to the surrounding conditions and circumstances, you risk certain peril. Morgan and I have put a concerted effort into remaining nimble in this industry. When clients come to us, they’re looking for us to have had decades of investment experience in other areas that we don’t have. What we do have is the right amount of fearlessness, and more important, the ability to monitor and adjust to sea changes quickly. Crash Wednesday In the early 1990s, I used to race double-handed sailboats, which consists of a two-person crew. I was in a junior sailing program where—just like being in the investment landscape—women were underrepresented, particularly at the helm. I distinctly remember an instance on Lake Ontario when the weather changed quickly, which can kick up violent wave and wind action. Our instructor separated from us so he could pick up the buoys. Before he left, he gave us specific directions to keep our six boats together while sailing in. One …

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