The news about rice prices is making the rounds and this particular link seems very depressing.This is worth following and understanding (to the extent we can) as there are probably several investment implications.
On a different note I took quite a few pictures in Miami in order to give Joellyn some sense of what it looks like. And while I think I did that, candidly most of the picture stink.
This is one of the better ones and it stinks. Oh, well but if you've never been this give a little inkling of what some of the buildings in South Beach look like.
8 comments:
The rice link made me want to mention one of my positions.
I don't normally buy OTC stocks, but I made an exception for CAGC. This company manufactures organic fertilizer in China at a time when food prices are rising, the PRC is supporting greater use of organics, and input costs to non-organic fertilizer are going through the roof. They are growing rapidly and have a trailing P/E of less than 6. The stock hasn't done much of anything for 4 years, so I wouldn't expect it to now until it moves to a major exchange. But they have plans in the works to do that (along with independent BOD and SOX compliance).
That picture's not so bad, I think you've been unlucky with the light that day. If the weather's overcast it can make for worse pictures than at dusk. You would have probably got a better picture if you'd waited until either the clouds had let in some more sunlight (on a windy day), waited until dusk with the benefit of some artificial street lighting or just taken some pictures from unusual angles to make the picture more interesting.
And no rice ETF I can hedge with. Damn. Guess it's back to potatoes for awhile.
Why the rice price explosion? Is this a population issue?
Time to take some gains and get a working camera, Roger! Love your writing.
good camera, buffoonish photographer
Roger,
Seems like the stuff of conspiracy theorists and Stone films, but I saw that the feds are publicizing their interest in tracking down those that may be "amplifying" the liquidity difficulties faced by the big banks.
See: http://www.srz.com/files/032808_Regulators%20Investigating%20Market%20Rumors.pdf
For my part, I take it as a sign that things are much worse than they appear: if Bear Stearns stock was so vulnerable to "rumors", then the self-correcting mechanisms of the market (and of capitalists looking to arbitrage bad information) are seriously out of whack.
And if things are not worse then they appear, then everyone is standing on the port (sell) side of the ship, and when they rush to starboard (buy), we're likely to capsize.
Roubeni may be right: way out of the money options (call and put), and stick the rest in an interest bearing account in Iceland and NZ.
R in NY
Hey Roger,
Like your blog. There are some interesting comments about the current food crisis and some commodities ETFs to play it at http://www.contrarianprofits.com/articles/feed-the-world-and-your-portfolio/2/
Would love you to check out the site.
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