Posted on 2 February 2018 by Douglas ChadwickI have recently been reading about the Kennedy clan and how their vast wealth was generated. The Kennedys moved from Ireland to America in the mid nineteenth century, but did not start to accumulate wealth until Joseph P.Kennedy took the family reins at the beginning of the twentieth century. He is reputed to have made his money from trading on the stock market, in transport, real estate speculation and liquor distribution. Although he went on to become the Chairman of the Securities and Exchange Commission, and the American Ambassador to Great Britain, many of his methods of accumulating his business success were questionable. Today the billion dollar fortune that he created still carries on down through the Kennedy generations, protected by family trusts. Now why might this be interesting to a Saltydog investor? Here is why. A great deal of his wealth came from his liquor distribution business, which straddled the ending of prohibition in America. The consumption of alcohol simply exploded with the changing of the law and this created a vast fortune for Joseph Kennedy. He subsequently re-invested this into the stock market and real estate with - it is rumoured - considerable help from his friends! Again today we have a similar situation in America, as the law is changing so that the production and use of Marijuana will no longer be illegal. It is used both medically and also personally so there could be a similar explosion in demand as that which occurred for liquor at the end of prohibition. This requirement will be met by legal farming and conversion companies, in which it should be possible to invest. There are already a couple of ETFs taking advantage, like the Horizons 'Marijuana Life Sciences Index ETF' (HMMJ), which was launched last April in Canada, and the 'ETFMG Alternative Harvest ETF' (MJX), which was launched in the US at the end of last year. Another ETF, 'Marijuana Opportunities Fund' (MJJ) began trading last week in Canada. Although these funds aren't readily available in the UK at the moment, they will be at some point. Your broker may also be able to get hold of them if you ask. I hasten to add that I am not advocating or encouraging the use of drugs, although my wife says that perhaps if I were to participate I might get my film back!