MMJ is looking good!!!, page-10

mastergray you are very wrong to put your trust in Morningstar.  This is verbatim from their MMJ page (my highlighting):

Morningstar Quantitative ratings for equities (denoted on this page by  ) are generated using an algorithm that compares companies that are not under analyst coverage to peer companies that do receive analyst-driven ratings. Companies with   ratings are not formally covered by a Morningstar analyst, but are statistically matched to analyst-rated companies, .....

So in other words there is no intelligence applied to the valuation of MMJ, just a comparison to other peer companies.  Anyone know of a LIC targeting Canadian-based Cannabis companies on the ASX with which to compare? 

You will go very broke (unless lucky) if you put all your trust in Morningstar.