Markets
Mind-Bending Medicine: An Overview of Psychedelic Substances
An Overview of Psychedelic Substances
Fueled by a slew of new research, psychedelics may hold the key to treating a multitude of debilitating disorders such as addiction, PTSD, and depression.
But as an industry that has laid dormant for decades, it will need to shed its negative connotations that have limited its potential and undermined new discoveries for so long.
The infographic above showcases data from The Report on Psychedelics which explains seven of the most common psychedelic substances and examines the many mind-bending ways they could radically transform mental health as we know it.
Resurrecting a Stigmatized Industry
Although evidence of humans using psychedelics as medicine dates back thousands of years, it was not until the 1940s that psychiatrists became advocates of their therapeutic potential.
Unfortunately, recreational psychedelics became a symbol of the 1960’s counterculture movement, which contaminated the industry’s reputation. The U.S. responded by introducing the Controlled Substances Analogue Enforcement Act, deeming these drugs illegal and stymying research studies in the process.
Following some new discoveries in the early ‘90s however, psychedelics moved from the hands of festival-goers back to the labs of scientists. Since then, certain substances such as psilocybin have been granted breakthrough therapy status for treating depression by the U.S. FDA.
With these recent developments, new companies and investment opportunities are beginning to emerge in the psychedelics space. But these complex drugs are not always easy to understand—so let’s dive in.
What are Psychedelics?
Psychedelics are psychoactive substances that can alter perception, mood, and cognitive processes. There are two broad classifications of psychedelics that relate to chemical structure.
- Entheogenic Plants: Plants or fungi that produce chemical substances that can cause hallucinations
- Synthetic Drugs: Drugs created in laboratory setting to mimic the effects of entheogenic plants
Here are seven of the most common psychedelic substances explained:
Drug | Characteristics | Legal Status | Conditions Studied | Number of Studies/trials |
---|---|---|---|---|
Ayahuasca (Entheogenic plant) | Traditional tea used in religious or spiritual rituals, mainly in South America. | Not formally prohibited. | Major depression | 1 |
DMT (Entheogenic plant) | Powerful hallucinogen produced by multiple plants, humans, and animals with an unusually short bioavailability period. | U.S.: Schedule I Canada: Schedule III UN: Schedule I UK: Class A | Healthy subjects | 1 |
Ibogaine (Entheogenic plant) | Derived from the tabernanthe iboga plant, a shrub found in the rainforest of western Africa. | U.S.: Schedule I Canada: Controlled UN: Uncontrolled UK: Illegal | Drug dependence, alcoholism | 2 |
Psilocybin (Entheogenic plant) | Naturally occurring psychedelic chemical found in more than 100 species of mushrooms. | U.S: Schedule 1 Canada: Schedule III UN: Schedule I UK: Class A | Depression, OCD, anorexia, migraines, cluster headaches, substance abuse | 40 |
Ketamine (Synthetic) | Commonly used as an anesthetic and administered intravenously (IV) or intramuscularly (IM). | U.S.: Schedule III Canada: Schedule I UN: Uncontrolled UK: Class B | Depression, mental health disorders, suicidal ideations, pain and related conditions, healthy subjects | 925 |
LSD (Synthetic) | First derived from ergot, a fungus that develops on grains such as rye. | U.S: Schedule I Canada: Schedule III UN: Schedule I UK: Class A | Cluster headaches, depression, anxiety, chronic pain, Healthy subjects | 12 |
MDMA (Synthetic) | Typically associated with rave culture, as it imparts feelings of joy combined with increased energy levels. | U.S.: Schedule I Canada: Schedule I UN: Schedule I UK: Class A | PTSD, autism, alcohol use disorder, Healthy subjects | 43 |
To avoid history repeating itself, Johns Hopkins University has created the Center for Psychedelic and Consciousness Research with the aim of enforcing strict standards of scientific rigor for the industry to follow.
On the Precipice of Change
With sound scientific evidence and standards coming into place, it’s no surprise that investors—from bestselling author Tim Ferris to several established cannabis companies—are supporting the born-again industry.
Given the industry’s foothold in recreational use, a therapeutic comeback may be a tough pill for many to swallow. However, it is possible that we are on the precipice of not only a psychedelic revolution but more importantly, a mental health one.
“Psychedelics, used responsibly and with proper caution, would be for psychiatry what the microscope is for biology and medicine or the telescope is for astronomy.”
—Stanislav Grof
Markets
The Top Google Searches Related to Investing in 2022
What was on investors’ minds in 2022? Discover the top Google searches and how the dominant trends played out in portfolios.


The Top Google Searches Related to Investing in 2022
It was a turbulent year for the markets in 2022, with geopolitical conflict, rising prices, and the labor market playing key roles. Which stories captured investors’ attention the most?
This infographic from New York Life Investments outlines the top Google searches related to investing in 2022, and offers a closer look at some of the trends.
Top Google Searches: Year in Review
We picked some of the top economic and investing stories that saw peak search interest in the U.S. each month, according to Google Trends.
Month of Peak Interest | Search Term |
---|---|
January | Great Resignation |
February | Russian Stock Market |
March | Oil Price |
April | Housing Bubble |
May | Value Investing |
June | Bitcoin |
July | Recession |
August | Inflation |
September | US Dollar |
October | OPEC |
November | Layoffs |
December | Interest Rate Forecast |
Data based on exact searches in the U.S. from December 26, 2021 to December 18, 2022.
Let’s look at each quarter in more detail, to see how these top Google searches were related to activity in the economy and investors’ portfolios.
Q1 2022
The start of the year was marked by U.S. workers quitting their jobs in record numbers, and the effects of the Russia-Ukraine war. For instance, the price of crude oil skyrocketed after the war caused supply uncertainties. Early March’s peak of $125 per barrel was a 13-year high.
Date | Closing Price of WTI Crude Oil (USD/Barrel) |
---|---|
January 2, 2022 | $76 |
March 3, 2022 | $125 |
December 29, 2022 | $80 |
While crude oil lost nearly all its gains by year-end, the energy sector in general performed well. In fact, the S&P 500 Energy Index gained 57% over the year compared to the S&P 500’s 19% loss.
Q2 2022
The second quarter of 2022 saw abnormal house price growth, renewed interest in value investing, and a bitcoin crash. In particular, value investing performed much better than growth investing over the course of the year.
Index | Price Return in 2022 |
---|---|
S&P 500 Value Index | -7.4% |
S&P 500 Growth Index | -30.1% |
Value stocks have typically outperformed during periods of rising rates, and 2022 was no exception.
Q3 2022
The third quarter was defined by worries about a recession and inflation, along with interest in the rising U.S. dollar. In fact, the U.S. dollar gained against nearly every major currency.
Currency | USD Appreciation Against Currency (Dec 31 2020-Sep 30 2022) |
---|---|
Japanese Yen | 40.1% |
Chinese Yuan | 9.2% |
Euro | 25.1% |
Canadian Dollar | 7.2% |
British Pound | 22.0% |
Australian Dollar | 18.1% |
Higher interest rates made the U.S. dollar more attractive to investors, since it meant they would get a higher return on their fixed income investments.
Q4 2022
The end of the year was dominated by OPEC cutting oil production, high layoffs in the tech sector, and curiosity about the future of interest rates. The Federal Reserve’s December 2022 economic projections offer clues about the trajectory of the policy rate.
2023 | 2024 | 2025 | Longer Run | |
---|---|---|---|---|
Minimum Projection | 4.9% | 3.1% | 2.4% | 2.3% |
Median Projection | 5.1% | 4.1% | 3.1% | 2.5% |
Maximum Projection | 5.6% | 5.6% | 5.6% | 3.3% |
The Federal Reserve expects interest rates to peak in 2023, with rates to remain elevated above pre-pandemic levels for the foreseeable future.
The Top Google Searches to Come
After a year of volatility across asset classes, economic uncertainty remains. Which themes will become investors’ top Google searches in 2023?
Find out how New York Life Investments can help you make sense of market trends.

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