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Forisk’s Annual “Wood Flows & Cash Flows” Conference will happen virtually on Thursday, August 25th. In addition to covering financial issues related to timberland investments, stress on the forest industry supply chain, and projected forest industry capacity by sector across North America, the event more…
Regional forest industry fundamentals are known by those in the business. The moving of softwood lumber capacity across North America from Western Canada and the Northwest to the U.S. South, changes in timberland ownership, and factors driving pulp fiber costs comprise a few. However, the more…
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…
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 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…
This post is the second in a series related to the Q1 2022 Forisk Research Quarterly (FRQ). It includes topics that will also be addressed in the (virtual) Applied Forest Finance course on May 19th, 2022. Forest carbon opportunities profit from more…
Foresters often hear non-foresters confuse terms, such as referring to lumber as timber or logs (which is like calling a pork chop a pig). A confusion with terms leads to misunderstanding issues and ultimately complicates analysis or discussion intended to more…
Forest carbon can affect timberland values to the extent that robust markets for carbon support reliable cash flows to investors. With wood, the economic value of trees derives from the ability of manufacturers to turn logs into value added products more…
This post is the first in a series related to the Q2 2021 Forisk Research Quarterly (FRQ), which includes forest industry analysis and timber price forecasts for North America. Featured research in the next issue will focus on forest carbon. Investor more…
Economist Irving Fisher[1], in thinking about the worth of an asset, wrote: “Capital value is income capitalized, and nothing else.” Capitalization refers to the conversion of expected future income into an estimate of present value. This means any valuation effort more…