Investing in marijuana stocks can be a harrowing experience. Stocks such as Aurora Cannabis (NASDAQ:ACB) have performed dismally, but others such as Curaleaf Holdings (OTC:CURLF) have soared. What's the best strategy for nervous investors? That's the question that Corinne Cardina, The Motley Fool's Bureau Chief of Healthcare and Cannabis, addressed with longtime Motley Fool contributor Keith Speights in this Fool Live video. 

Corinne Cardina: Do you have any tips on strategies for cannabis investing that someone might consider today? Any kind of guidance or things that you think are compelling?

Keith Speights: I think maybe the best wisdom on that for investors is to go back to that 1970s movie, All The President's Men. There was a famous line in that movie, "Follow the money." That's probably the best strategy that investors can adopt. "Follow the money."

For example, when you look at the market size and the potential, the US is where the market is. Canada has taken the limelight for several years, but all along, it's been the US that was the big opportunity.

There are US stocks that are doing much better than their Canadian counterparts. So I would definitely say, "Take a look at where the real market potential is and look at companies that are going to be in the best position to take advantage of that market."

The other thing is back in the gold mining days, there was an old saying that it was the people who sold the picks and shovels who made more money than the miners themselves. I think there's some truth to that even today in the cannabis industry.

Some of these ancillary stocks could be better picks right now for investors than the pure-play cannabis companies. That's not always the case, but I think there are some real opportunities there.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.