Re: Probably buying puts this week
Selling at a profit sounds great but if one guy sells at more of a profit than the other, the first guy will outbid for the land and outbuy for capital expenditures. Agricultural is a commodity business and no matter what path we take, a certtain number get weeded out one way or the other.
Never selling and accepting the risk premium is another strategy that assures that someone else will make a greater profit over time and outcompete you.
The bottom line is each of us wants to be in the upper 1/3 or so each year so that we are always surviviors.
Granted, some can survive if they are sundowners or have outside capital, but the big picutre is simple "root hog, or die".