What a difference a few years makes. Marijuana has gone from being a strictly illegal commodity virtually everywhere to one which is for all practical purposes legal in many U.S. states -- albeit with restrictions and regulations -- and totally legal as of last month in Canada. As a result, a number of public companies have sprung up to grow and wholesale the crop. But this early in a newly open market, it's still quite hazy how profitable those businesses might be, and speculation about that has led, inevitably, to volatile stock prices.

Should you invest in the marijuana sector? If so, which companies look more likely to justify their frothy valuations? And how much of anyone's portfolio belongs in this segment? For this episode of Motley Fool Answers, hosts Alison Southwick and Robert Brokamp have recruited the best analyst they could find to address those questions and others: David Kretzmann, who heads up The Motley Fool group that focuses on the cannabis business. But first, it's a wide-ranging "What's Up, Bro?" segment as he gives listeners the skinny on a new capital gains tax break, reveals 10 major retailers -- at least -- that will price-match with Amazon this season, and checks in on the college debt situation in this country. 

A full transcript follows the video.

10 stocks we like better than Walmart
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, the Motley Fool Stock Advisor, has tripled the market.* 

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Walmart wasn't one of them! That's right -- they think these 10 stocks are even better buys.

Click here to learn about these picks!

*Stock Advisor returns as of August 6, 2018
The author(s) may have a position in any stocks mentioned.


This video was recorded on Nov. 06, 2018.

Alison Southwick: This is Motley Fool Answers. I'm Alison Southwick and I'm joined, as always, by Robert Brokamp, personal finance expert here at The Motley Fool.

Robert Brokamp: Hello, Alison!

Southwick: Today we're going to learn more about the growing cannabis industry and whether or not you should invest in it. And if you are, how should you invest in it? Or not? I don't know. We're going to get help from David Kretzmann. All that, and more, on this week's episode of Motley Fool Answers.


Southwick: So Bro, what's up?

Brokamp: Well, Alison, as you know in this segment I usually choose one item from the news and talk about it for about five minutes, but I read so much I have trouble narrowing it down. This time I'm going to try something different. I'm going to highlight three things -- with a shorter time for each -- and one fun/weird fact. Are you ready?

Southwick: I'm ready. Let's bring it. No. 1.

Brokamp: No. 1 -- defer your gains with qualified Opportunity Zones. This is a lesser-known creation of the Tax Cuts and Jobs Act passed at the end of last year. Basically, if you sell an investment for a profit, normally you have to pay taxes on the capital gains, but you can avoid that if within 180 days you invest in these qualified, special Opportunity Zones. It was a way for Congress to try to get people to invest in lower-income areas of the country. It's so new that they haven't even worked out all the details and just in July did the IRS actually designate what these special Opportunity Zones are.

How it works is you sell one investment. You invest it. Don't have to pay taxes on those capital gains. You can defer them up to the year 2026 and if you keep holding for several years, your cost basis goes up, so your gain is actually shorter, at least in terms of the taxable gain. You invest in a business or real estate in one of these lower-income communities. If you hold that for 10 years, when you sell if you have a gain, you don't pay taxes on that gain.

It's an extraordinary opportunity, but they're just starting to work out the details. If you are interested in doing this, learn a lot of the details. One great recent article on it can be found on Kitces.com. That's K-I-T-C-E-S dot com. Written by Jeffrey Levine. It's called, "Using Qualified Opportunity (Zone) Funds to Minimize Capital Gains," so check that out.

No. 2 -- Just in time for the holidays get online prices at bricks and mortar stores, and this comes from a Money magazine article written by Paul Schrodt titled, "Ten Big Chain Stores That Will Secretly Match Amazon's (AMZN -1.35%) Low Prices."

It listed a bunch of stores where you can go in with your phone and say, "Look, here's the price on Amazon.com. Will you give it to me?" They will do it. Those 10 stores are Bed Bath & Beyond, Best Buy, Fry's, Home Depot, J.C. Penney, Nordstrom, Lowe's, Staples, Target, and, of course, Jo-Ann Fabrics.

And I did some research and found some other stores that will do this, too. Dick's Sporting Goods. Walmart will do it. I thought that was kind of interesting. I went and tried it at Best Buy when we were getting a gift for my daughter and it worked.

Southwick: Isn't there a way that you scan barcodes into Amazon, too? That would make it super easy to actually do the apples to apples comparison?

Brokamp: And that's a good point, because each store has their own rules about this, and in some of the stores the rule is it has to be the exact item and it has to be sold directly by Amazon and not by a third-party seller. That would be very handy. But some stores, like Home Depot and JCPenney, won't only just match the price, but they'll give you a 5-10% discount on it. So something to consider.

No. 3 -- and it's a sad one coming straight from Bloomberg. Here's the headline. "America's Student Loan Debt Crisis Is About to Get Much Worse." It starts with these sad stats straight from the article. "Federal student loans are the only type of consumer debt with continuous, cumulative growth since the Great Recession." Student loans have seen almost 157% cumulative growth in the last 11 years compared to just 52% for cars. Actually, overall mortgage and credit card debt has gone down.

When you look, too, at delinquencies, one in 10 people with student loans are delinquent. That means they haven't paid it in more than 90 days compared to 1-4% for mortgages and car loans. And it's about to get worse because school is getting more expensive and interest rates are going up. It's like this double whammy on kids.

The bottom line, here, is at this point there are kids all across the country -- one of mine included -- who are applying to colleges, and students of all ages are applying for financial aid, now, because the FAFSA opened on October 1 -- the FAFSA being the Free Application for Federal Student Aid. People are going to be making some big decisions about where they're going to school, and it's going to affect their life five, to 10, to 20 years after that depending on how much student loan they take out.

So, please do whatever you can to graduate without student loans. It could be looking harder for scholarships. Considering ROTC. Staying in state. Going to a community college for a couple of years. But whatever, you do, try to graduate with as little debt as possible.

And then finally the fun fact. This comes from the new "Bogleheads on Investing" podcast. It's hosted by Rick Ferri, who's one of my all-time favorite investing writers. The very first episode featured an interview with none other than John Bogle, the founder of Vanguard and the father of the index fund. They talked about the beginning of the index fund.

And it turns out when they first launched the fund it was such a dud that they didn't collect enough money to buy all 500 stocks. They could only buy 275, so they tried to do a sampling of all the sectors and industries within it. The first manager of the fund was a young woman who did it only on a part-time basis. Her other job was working in her husband's furniture store in Wilmington, Delaware. And from those inauspicious beginnings, the Vanguard 500 has since grown to be the biggest mutual fund in the world.

Southwick: Wow! That was a fun fact.


Southwick: Here we are amid Reefer Madness 2018.

David Kretzmann: Light it up!

Southwick: Today we're going to talk about cannabis. Is it the new crypto for investors? Some of you are nodding your head right now. Some of you are shaking your head. Some of you are shrugging. So joining us to understand it is David Kretzmann. He is the head analyst digging into the growth possibilities of cannabis. I know there's going to be so many bad puns.

Kretzmann: You've got it. You've got to do it.

Southwick: And we [don't even intend to say] them. Like that was actually unintentional, that I wrote digging into the growth possibilities and I'm only reading it now...

Kretzmann: Well done.

Southwick: ...and rolling my eyes. Ugh!

Brokamp: Rolling!

Southwick: You're right! Ugh!

Kretzmann: Oh, man, this is going to be the theme of the conversation.

Southwick: We're just going to keep moving. So yes, David, thank you for joining us.

Kretzmann: Thanks for having me. It's great to be here.

Southwick: We're taping this many weeks in the future. It turns out where we are in time is they just legalized cannabis up in Canada. You've been on the show before. We could waste time with "David, tell us more about yourself," but let's just get into it, shall we?

Kretzmann: That's boring.

Brokamp: But you're not boring. Let's make that clear.

Kretzmann: I appreciate that, Bro.

Southwick: So cannabis. Canada. What did they just do? How did they legalize it?

Kretzmann: October 17 was a big day in Canada. They became the largest country in the world to legalize adult use of recreational cannabis. Up until this point Canada had allowed medical cannabis, so there was like a small, fledgling medical cannabis industry, but the country took a huge step on the 17th to legalize recreational cannabis on a national scale.

Now some people might be asking whether it's already legal in some places in the US. You have California, Washington, Colorado. And while that's true in the U.S. -- and I'm sure we'll talk about this -- it's still federally illegal. That's why Canada, being such a major economy and country taking this step. is just a huge milestone for the industry for a substance or a crop that's really been under prohibition for almost a century, now. That's what makes this such a big deal.

Southwick: So if I understand this correctly, Canada at the federal level actually gave a lot of control to the provinces over how they regulate cannabis. Is that correct?

Kretzmann: Yeah.

Southwick: So it's going to be different locally.

Kretzmann: Yes. Nationwide it will be legal, but each province, similar to states in the U.S., have the ability to make their own laws. Like whether you're 18 or 19, and exactly how you'll be able to access cannabis. Some provinces are totally monopolizing retail, so the governments will actually build and manage the stores that sell cannabis. Other provinces are taking more of a mix between privatized retail, public retail. So you're seeing kind of a grand experiment all across Canada, but you do have, at least, that legal framework clearing up on a national scale, and that lets these more local experiments take place on the province level.

Southwick: And here in the U.S., it seems like we're going in the direction of increased legalization. What's your take?

Kretzmann: At this point we have over 30 states that have legalized cannabis in some shape or form. Most states are starting with medical cannabis, but now we have nine states that have also legalized recreational cannabis, whether it's medical or you're just doing it edible and just trying to get that high effect. One way or another you're able to access medical cannabis.

The elephant in the room continues to be what exactly the federal government does, because at this point the Drug Enforcement Administration still lists cannabis as a Schedule 1 substance and that goes back to the 1970s. Essentially that means cannabis is treated as among the most dangerous substances out there. So cannabis is Schedule 1. Compare that to some Schedule 2 drugs like meth and cocaine and that just shows you that maybe we can reprioritize that at some point -- just the way things are going.

Yes, I think it's just a matter of when, not if; when the federal government decriminalizes cannabis. Even President Trump has said he would probably support a bill, which is working its way through Congress now, that would essentially take the federal government out of it and at least let the states make that call for themselves.

But there's clearly a tide shifting, here, with public opinion in the US where the majority of Americans, regardless of where they fall politically, favor the idea of at least decriminalizing cannabis. Most Americans favor medical cannabis, and then you're seeing more Americans favoring even recreational cannabis and essentially letting people make that decision for themselves rather than keeping it illegal.

Southwick: Some of the estimates for growth in the industry -- and granted this is from the Cannabis Industry Annual Report so they might be a little skewed -- but they anticipate that by 2025, between recreational and medical use, cannabis will become a $24 billion industry. Twice as much as wine. Is that just for the U.S.?

Kretzmann: That's just the U.S.

Southwick: That's bonkers.

Kretzmann: It's a big industry. I think what's interesting about cannabis is that there isn't really any direct comparison for an industry that's manifesting in this way. Obviously it's been illicit or on the black market for almost a century, now, but there's no direct comparisons for where cannabis stands today. At this point, you have a lot of different projections and estimates as far as how big the opportunity could be. People trying to figure out how big the black market is in cannabis. What will the legal cannabis market look like?

So all those projections at least suggest that it's a pretty substantial opportunity. Then when you take into consideration the potential global opportunity as more countries legalize medical cannabis and then most likely recreational cannabis down the road, that really should open up legal cannabis to an increasingly mainstream audience and become a bigger industry as a result.

Southwick: So we're talking about investing in cannabis. What really are we talking about? What kinds of companies? I don't imagine I'm just going to hand some money to a hippie standing out in the field in the middle of Oregon.

Brokamp: You could! You could! But it's not a good investment.

Southwick: I could! But I just don't know that that's the right way...

Kretzmann: Probably not encouraged. At this point, Canada really is the haven for a lot of these legal cannabis producers. It's, by far, the most attractive market to raise capital because these companies can actually go public on the Toronto Stock Exchange or the TXS Venture Exchange for smaller companies. It's relatively easy to list your shares publicly and access investors that way. And the fact that cannabis is now legal on a national level means that the banks are suddenly supporting cannabis companies, so you're able to get a loan from banks or even have an account with a bank whereas in the U.S., because it's still criminalized on a federal level, a lot of banks are kind of nervous to get involved in supporting any form of the cannabis industry in the U.S., even though it is legalized in some states.

So you're seeing Canada attract more and more attention, investment, entrepreneurship as a result. You have companies really all along the value chain. Companies are looking to produce cannabis. Companies are looking to distribute cannabis. And oftentimes these companies are actually vertically integrated because, unlike other crops right now, there's not this excess supply of cannabis you can access. So if you want to sell cannabis or sell a branded cannabis product, you also need to grow the cannabis at this point.

Part of what's exciting, here, is that we are treading new territory, so we'll finally see how this market unfolds over the next year and beyond in Canada. That gives you an idea of the landscape. Right now there's probably over 100 publicly traded cannabis companies in Canada. They're all across the spectrum as far as where their place is in the industry.

Southwick: So there's always a dumb way to invest in something and hopefully there is a not-dumb, Foolish approach to investing in the potential growth of the cannabis industry. What is your Foolish approach?

Kretzmann: First, let's start with the things that you want to avoid. You have to recognize that there is a lot of speculation here. There's a lot of frothiness and partly for good reason. Like this is a new opportunity. I personally am increasingly convinced that this is the beginning of a large, legitimate, legal cannabis industry, so I think there is reason to be excited.

But at the same time, we have to tailor our expectations, because the shares of cannabis companies today are not trading based on present-day fundamentals or a track record, because most of these companies have only been in existence legally for three to five years, at most. Now finally in Canada we have a national recreational market, so there is an increasingly large opportunity, there, but the shares of these companies are being priced based on future expectations and hype.

There's undoubtedly a lot of frothiness, here. I'm sure people have seen Tilray in the headlines. That's a company that went public in July. They're a Canadian producer, but they went public directly on the Nasdaq. Gained a ton of attention. I think their IPO was initially priced at about $20 a share. It went up to $300 a share within a couple of months, .and as we tape this right now, it's around $170 when this airs in a few weeks. Who knows where it will be? It could be at $300 or at $20 for all I know. There's clearly a lot of shorter-term speculation, so with Foolish investors, we don't want to get caught up in that hype. We want to take a long-term, business-focused approach like we do with any other industry or company.

That's what we're trying to do here at The Fool with some of our cannabis investing -- services that we've launched so far this year -- but recognizing that this is still dominated by early stage companies. They're at a riskier stage in their life. They don't have much of a track record, so there will continue to be a lot of volatility.

And as a result, since there isn't much in the way of a track record or present-day fundamentals, a lot of what we have to do is look at the qualitative factors. So get a sense for the leadership teams at these companies. Who's at the helm of the ship? Is there a healthy amount of insider ownership, because we want to be sure that the individuals who are spearheading these companies -- if they don't have a whole lot of conviction or ownership in these companies, why should we as investors?

Then you also want to pay attention to the balance sheet. How much cash does the company have in the bank, because virtually none of these pure play cannabis companies are actually making any money yet, so they're unprofitable. As a result, they're burning a lot of cash, which isn't necessarily a bad thing because if you do agree that there is an opportunity, here, it makes sense to invest in a production facility. A processing facility. Investing in marketing and brand building. But you want to be sure that the company has enough cash to support that.

So those are some of the factors that we look at. Then taking a long-term approach, we want to be sure that we're finding companies that are positioning themselves to be a relevant player in the long term. We're not necessarily worried about where the share prices will be in a month, or three months, or even a year. We're more interested in what the odds are that this cannabis company will be a relevant and thriving player in the industry three-plus years from now. So trying to take that long-term approach is kind of the way that we're playing a different game than a lot of the speculation and short-termism that's dominating the category right now.

Southwick: Are there a couple of specific company names or stocks that you want to put out there for any listeners that want to start looking into the industry?

Kretzmann: Sure. [Within] the initial companies that we've recommended to people as buy recommendations, we have the pure plays. These are companies that generate the majority of the revenue from cannabis in some shape or form. We then have picks and shovels companies. Picks and shovels companies we have identified as companies that have a strong, underlying core business that isn't in cannabis, but then the potential opportunity with cannabis is an add-on, or a cherry on top, but it isn't the main thesis behind buying the company.

Starting with a picks and shovels company, I think Constellation Brands (STZ -1.42%) is a company that some people will be familiar with. If people have followed this space at all, you might have seen them in the headlines. This is the company behind Corona, the beer, and then a variety of other wine and spirit brands that they have in their portfolio. They've been one of the better-performing alcoholic beverage companies in the past several years; unlike some of the other bigger players.

Last year they invested a smaller amount into Canopy Growth (CGC -10.51%), which is one of the larger cannabis producers in Canada. Then in August Constellation Brands reupped that investment in a huge way. They invested an additional $4 billion into Canopy Growth, taking 38% control of Canopy for the seven board seats. Essentially Canopy Growth, today, is the cannabis offshoot of Constellation Brands.

To put that number in perspective, in the first half of 2018, every single cannabis company, public and private, around the world had raised $4.3 billion.

That's the first half of this year, so in a single day, Canopy Growth essentially raised the same amount that every other company had raised. This just puts Constellation and Canopy Growth on a whole other level compared to other companies. So from a picks and shovels angle, I like Constellation Brands because this is a company that pays a dividend. They generate an increasing amount of free cash flow, so it's a healthy business. They have a strong core business, but they're also making a fairly aggressive push into cannabis. During the announcement of this investment, they said that they expect the legal cannabis market, on a global scale, to hit $200 billion by 2030, so they see this being a big opportunity and they're making a substantial bet on it.

That would be the type of company that I start with. It's a business that's easy to understand. You can see where cannabis could complement Constellation Brands because they have a lot of experience building brands and distribution with a highly regulated product like alcoholic beverages, and it makes sense that they could transfer that knowledge over to cannabis in the coming years. And I like the fact that they're taking a long-term approach to this. They're not investing cannabis to juice their share price in the short term. They're very much thinking of this from a decade-long perspective, and I think that's the right way, as Foolish investors, we should be thinking.

With pure play companies, these are obviously much riskier companies. Like I said earlier, a lot of these companies are burning cash, they're unprofitable, and the valuations are likely going to be very lofty no matter which way you slice it. But one company that I do like that's a pure play cannabis producer in Canada is a company called CannTrust.

This is a company that's still valued at over $1 billion. Their revenue over the past year is still pretty minimal, but they've registered among the most medical cannabis patients in Canada compared to the other bigger producers.

And even though their valuation does sound lofty -- like $1 billion for a company that generated about $30 million in revenue over the past year), that valuation's actually really attractive compared to Canopy Growth, or Tilray, or Aurora Cannabis, or some of these other bigger players. I'm not making a valuation argument, necessarily, but compared to some of these other bigger players, I think it is a more attractive price.

They also have a partnership in place with Breakthru Beverage, with is one of the largest private companies in the U.S. and that's a company that is one of the leading beverage distributors in North America. So in the coming years, potentially, CannTrust will be able to plug its cannabis products into that distribution network of Breakthru Beverage.

It's a founder-led company. They have a healthy balance sheet. Again, this is one where it would still be incredibly volatile, but I like the approach the company is taking. When I spoke to their president this summer, he said, "In 18 months or so, I hope that we're not in the business of growing cannabis."

Because when you think about it, no one cares about who grows the coffee for Starbucks or the tomatoes for Heinz. People are really just interested in the end product. So the long-term vision for CannTrust, and also some of these other companies, is really in building brands, because at the end of the day when you're dealing with what could potentially become a commoditized crop like cannabis, the greatest value to be captured will be from the companies that can build those brands that resonate with the end consumers.

So just as you see Anheuser-Busch or Budweiser with alcohol, or Starbucks with coffee, or Heinz with tomatoes, I think you're going to see, in the coming years and decades, some pretty powerful global brands be built in a similar way around cannabis and I like the approach that CannTrust is taking to get there. It's not a slam dunk that they will, but I do like the approach that they're taking. So that's one that I look at as a promising pure play company.

Southwick: What if I just want an ETF?

Kretzmann: There are a few ETFs out there. Again, limited track records, there, because there hasn't been much of a track record to have in this industry. The one danger with the ETFs is that they're often highly concentrated in the bigger players, and I would say that most, if not all, of the bigger players are trading at some frothy valuations at potentially unsustainable levels.

So you still want to understand what you're buying. I wouldn't blindly buy an ETF. First you'd want to see what their concentration is in the top 10 holdings -- what those companies are -- and if you're comfortable with the idea of having the majority of that ETF be in some of those bigger players.

For me, personally, if you are looking to get exposure to this category, start with a company like Constellation Brands, a more established multinational company that is looking to make some investments in the category. And then if nothing else, the approach that we're taking, here, at The Motley Fool with our cannabis-investing recommendation service is we're almost building our own ETF; so recognizing that this is a type of industry and given that it is at such an early stage where there will be plenty of losers in the coming years. You're going to see some consolidation. You'll see some companies that fail to gain traction or just won't be able to raise cash and they'll go bust.

But the thesis that we have, here, is that there will be eventual long-term winners in the category, and that a majority of the gains will likely come from a small number of winners. It's almost like approaching a venture capitalist where you're making a series of small bets. You recognize that probably at least half of those bets won't work out, like the way you hoped, but there will be one or two big winners that more than make up for the losers.

So with an ETF, you might be able to capture that, but I think over the long term if you are interested in the space, it makes a little more sense to build a diversified portfolio among a few of the players and go with that approach. But to each their own. I would just tread carefully with the ETF approach.

Brokamp: If someone's interested in this, how much of their portfolio do you think they should devote to these types of companies?

Kretzmann: It should definitely be a small part of your overall portfolio. Obviously, each person, circumstances, and risk tolerance will be different. I've personally invested in all 10 or eventually 13 of our recommendations by the time this podcast is released, so I've invested my own money in the companies that we've recommended in this space to our members; but I just started with about five percent of my overall portfolio. I'm young. I am adding more money regularly to my investments, so that's the type of risk that I can afford to take.

Even though 20-40% swings in these stocks, especially the pure plays, isn't all that uncommon -- it's actually probably more than the norm rather than the exception -- for someone who's in or near retirement, or if they're not adding a lot of money to their investments, you just want to take a step back and really be sure anything that you put into the cannabis stocks should be money that you certainly won't need in the next five years, and shouldn't be a substantial part of your overall portfolio. I would say when in doubt, start small. There's no rush.

The way that we're approaching it is this will be something that unfolds in the coming years and decades, and there will certainly be a lot of peaks and valleys along the way. We'll have a lot of hype like we had around October 17 and legalization day in Canada. I'm sure if and when the U.S. federal government decriminalizes cannabis on a federal level, that will be a huge catalyst for the industry, but when in doubt, start small.

Southwick: David, thank you. I should probably have a disclaimer. As always, The Motley Fool may have formal recommendations for or against the stocks we talked about. Don't buy and sell stocks based solely on what you heard on this show. David, will you stick around for a little game?

Kretzmann: Of course!


Southwick: I think it's safe to say that Ben & Jerry's ice cream company feels a connection with weed. Flavor names include Jerry Garcia -- named after the lead of the Grateful Dead. They also have Phish Food, another band that enjoys just getting together in a field and smoking weed and just hanging out for long hours. And then, of course, the ice cream Half Baked.

So for today's quiz, you guys have to guess. Is it a weed strain or a failed Ben & Jerry's ice cream flavor?

Kretzmann: Oh boy. Let's do it.

Southwick: The first one is Snoop's Dream.

Kretzmann: Oh, boy.

Brokamp: You'd have to say it's most likely weed, so I'm going to say it's a trick question and I'm going to say it's ice cream.

Kretzmann: I'm going to say it's weed.

Southwick: You know what, weed has it. It is, indeed, a strain of weed. The next one. Super Lemon Haze.

Kretzmann: I'm just wondering what the ice cream flavor will be. Does anybody want an ice cream dominated by that much lemon? I don't know if anyone's up for that.

Southwick: Oh, I love lemon ice cream.

Kretzmann: All right, I stand corrected.

Southwick: Oh, man. I love lemon ice cream.

Brokamp: All right, so I'll go with weed.

Kretzmann: What's even better than lemon ice cream? Lemon weed. I'll go with weed again.

Southwick: It is, indeed, weed. The next one is Oh Pear.

Brokamp: That's interesting. I can't imagine. I'll go with ice cream.

Kretzmann: Yeah, I like ice cream.

Brokamp: Listen how you're hearing those words.

Kretzmann: Ice cream.

Southwick: Ice cream. It is, indeed, a failed Ben & Jerry's ice cream flavor. It was fresh pear ice cream with a hint of almond and a light fudge swirl. But apparently fans did not like it.

Kretzmann: Shocker!

Southwick: The next flavor or weed strain...

Brokamp: Hint, hint.

Southwick: ...Fred and Ginger.

Brokamp: What kind of ice cream? I'm going to have to go with the weed on that one.

Kretzmann: I'll say ice cream. Are there some Fred and Ginger celebrities out there?

Brokamp: Well, yeah. Fred Astaire and Ginger Rogers.

Kretzmann: OK, I have no idea.

Brokamp: But I don't know what kind of ice cream.

Rick Engdahl: You're showing your age, there.

Kretzmann: I know. I'm totally clueless, here.

Southwick: Rick thinks it's weed. You think it's...

Brokamp: I think I said weed.

Southwick: ...weed. What do you think?

Kretzmann: I think ice cream.

Southwick: You're right. It's ice cream. This flavor featured ginger ice cream with chocolate bow ties. Aw! The next one you have to guess. Sour Tsunami.

Brokamp: It sounds more ice-creamy to me, but what do I know?

Southwick: You know nothing.

Brokamp: Nothing. I think I'm losing this conversation.

Kretzmann: I'll go with weed strain.

Engdahl: I think it's a sorbet.

Southwick: It is a weed strain.

Kretzmann: Five for five. OK.

Southwick: And the last one is Black and Tan.

Brokamp: Goodness gracious.

Engdahl: I say it's both.

Southwick: That's true. There are so many strains of weed, it is hard to know. But if it is a Ben & Jerry's flavor, that trumps whether or not it is.

Brokamp: I'm going to say weed.

Kretzmann: Yeah, I'll go with weed.

Engdahl: Ice cream.

Southwick: It is ice cream.

Brokamp: I don't think I got a single one right.

Southwick: It's a cream-styled ice cream swirled with chocolate ice cream. It sounded pretty good, but then apparently there's some British history and Irish fans did not like it.

Kretzmann: Now Alison, did you bring samples of all these today?

Southwick: Of the weed, yes!

Kretzmann: OK.

Southwick: Because these ice creams don't exist anymore, so here we go. First we're going to start off with Snoop's Dream.

Kretzmann: Excellent.

Southwick: No, we have none of that, here. So, yeah, that's all I've got for you, David. Thank you so much for hanging out with us!

Kretzmann: Always a pleasure. Thanks so much!

Southwick: It's been a lot of fun. Well, that's the show. It is edited tokingly by Rick Engdahl. Our email is [email protected]. For Robert Brokamp, I'm Alison Southwick. Stay Foolish, everybody!