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In 1990, Nobel Prize-winning economist Daniel Kahneman and two colleagues published a study documenting how we can “overvalue” things we already own (D. Kahneman, J. Knetsch and R. Thaler, “Experimental Tests of the Endowment Effect and the Coase Theorem,” The more…
A few notes and two questions to ask when applying and interpreting IRR. Internal rate of return (IRR) reflects the compounded return produced by an investment or capital project. IRR is best used in tandem with other measures, such as more…
Albert Einstein, the smartest guy most of us never met, said, “The hardest thing in the world to understand is the income tax.” [Fascinatingly, this quote, along with others, can be found on the IRS website here.] Taxes matter in more…
The book Forest Finance Simplified includes a chapter titled “What Opportunities Exist for ‘Getting Smart’ In Forest Finance?” It lists six skills and topics for students seeking work in the timberland investment sector and for forestry professionals looking to broaden more…
This post includes an excerpt from the bioenergy research authored by Amanda Lang and Andrew Copley published in the Q1 2017 Forisk Research Quarterly (FRQ) Publication. Forisk analysis suggests wood use for viable bioenergy projects in the U.S. will be more…
At the start of each year, we look back on our performance over the past twelve months and look forward to our expectations for the next twelve. George Box, a famous statistician, has a quote that provides me some solace more…
This is the fourth in a series of excerpts from Forisk’s Q1 2017 forest industry analysis and timber price forecasts for North America. All equity indices tracked by Forisk – timberland and otherwise – produced positive returns in 2016; only more…
This is the third in a series related to Forisk’s Q1 2017 forest industry analysis and timber price forecasts for North America. Each quarter, we look back and evaluate the performance of previous forecasts and earlier models. How did Forisk’s more…
This is the second in a series related to Forisk’s Q1 2017 forest industry analysis and timber price forecasts for the United States and Canada. The fact that the forest industry has changed structurally over the past 10 years is more…
This is the first in a series related to Forisk’s Q1 2017 forest industry analysis and timber price forecasts for the United States and Canada. Forecasts of business and market conditions support a range of capital allocation and strategic planning more…