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According to The Economist[1], “Private equity benefits from a fig leaf of illiquidity,” which covers up for delays when valuing investment assets and obfuscates their true volatility. The inability to confirm value in real-time or robustly quantify risk sounds, to more…
Building products firms continue to add and acquire capacity, and firms are looking forward to the next phase of investment to put additional capital (from higher lumber and plywood prices) to work. Much of the sawmill capacity increases in North more…
2021 Totals Nearly 2.8 million acres of US timberland changed hands in 2021. This represents a 60% increase from 2020 totals. Regionally, most transaction volume was concentrated in the West (45%) and South (38%). The North accounted for the balance more…
When inflation rises, people talk about it. In my calls with forest industry investors and executives, these discussions center on current and future costs, prices, and cash flows. Generally, I observe that inflation increases fear by fogging the crystal ball more…
This post includes data from Forisk’s 2022 North American Timberland Owner & Manager List and the Q2 2022 Forisk Research Quarterly. Forisk marked its seventeenth year of tracking timberland transactions and aggregating timberland owner data. Currently, this tracking includes 319 private organizations in the more…
Markets for alternative, specialized assets – like vintage water pistols, 101-year-old scotch, and drivable Corvairs – must overcome high “search costs” to match suitable, qualified buyers and sellers. The abilities to evaluate, value, and manage such assets comprise a Rubik’s more…
This post is the fifth in a series related to the Q2 2022 Forisk Research Quarterly (FRQ), which includes forest industry analysis, timber price forecasts, and featured research on regional pulpwood price dynamics. Logging is largely a high-volume, low-margin business. more…
This post is the fourth in a series related to the Q2 2022 Forisk Research Quarterly (FRQ), which includes forest industry analysis, timber price forecasts, and featured research on regional pulpwood price dynamics. The U.S. housing market maintained its momentum more…
This post is the third in a series related to the Q2 2022 Forisk Research Quarterly (FRQ), which includes forest industry analysis, timber price forecasts, and featured research on regional pulpwood price dynamics. Below is an excerpt from the lumber industry more…
This post includes topics addressed in the (virtual) Applied Forest Finance course on May 19th, 2022 and in the Q2 2022 Forisk Research Quarterly (FRQ), which includes forest industry analysis, timber price forecasts, and data on North American timberland ownership. The more…