October 22, 2013
They say opinions are like, well you know what, and everybody has one, but I recently read two articles with opinions that I really, really
(no that is not a misprint and I know my high school English teachers, Miss Sly and Miss Mills, would give me an F on this column) liked and
wanted to share with readers.
John Phipps, farmer and TV host of U.S. Farm Report wrote a column in the September issue of Top Producer entitled "Can Land Be Too
Expensive?" The entire article is reprinted on page 2 of section 1 of this issue. A few really, really good quotes:
- "The first miscalculation many land agnostics make is failing to include the hidden value of the ability to own."
- "Recently, the rise of wide-ranging mega-renters has confronted farmers with a level of competition beyond previous
community norms…… To rebuild that defense, there is one foolproof tool: ownership."
- "But the largest overlooked favor is our time horizon….I have never heard anyone refer to himself as a fifth-generation ag
- "Did your ancestor pay too much for his acres? Who knows, or better yet, even cares?...Paying too much for land you
farm is a fabricated failing determined by incomplete metrics to meet arbitrary, short-sighted standards."
Another article I liked was an interview of Jim Rogers, legendary investor, by Kopin Tan from Barron's on 10.14.13. Two of his opinions
I really really liked are: When asked: "Are you bullish about anything?" Jim replied "I think agriculture is going to be one of the best
investments over the next few decades." With that question he did not talk about any other industry. Another interesting question
Jim was asked "Can't such policies (referring to the previous paragraph on all major governments debasing of their currencies) go on for a while?
After all, we still don't have inflation." Jim's response was "According to the US government!…..We have inflation in India,
China, Norway, and Australia – everywhere but the U.S. Bureau of Labor Statistics."
In my "opinion" interesting insight John and Jim. Thank you for taking the time to read my column. Comments are always welcome at
email@example.com or 608-543-3125. Evan Lemenager, AFM; Land Sales Bulletin
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