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"You had places the size of Starbucks bringing in $15 million a year, which is absurd," Peterson said.He quit his day job at Morgan Stanley in late 2010, and in 2012 became chief executive officer and president of Terra Tech Corp., which is now a $247 million company that cultivates medical marijuana and whose shares trade on the over-the-counter market, making it one of the few publicly traded pot stocks.Powering the expansion of the industry are former Wall Street executives like Peterson that hail from such staid firms as BlackRock Inc., Goldman Sachs Group Inc. and Prudential Financial Inc., all of whom say that they might not have ever left traditional finance if not for the lingering damage of the 2008 crisis.Companies in the U.S. marijuana market posted revenues of approximately $6 billion in 2017, a 500 percent increase from the roughly $1 billion in 2011, according to estimates from Marijuana Business Daily, a trade publication.Approximately 250,000 people work in the sector, and both jobs and revenues are expected to double or triple over the next four years, the publication estimates.Morgan Paxhia, co-founder of San Francisco-based Poseidon Asset Management, a $25 million hedge fund that focuses exclusively on the marijuana sector, was a trader on the municipal debt desk at UBS in New York during the financial crisis.
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