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This is the second in a series related to Forisk’s Q1 2015 forest industry analysis and timber price forecasts for the United States. We use “sensitivity analysis” to test the relative importance of inputs in our models. Is this assumption more…
Internal rate of return (IRR) reflects the compounded return produced by a project. IRR is best used in tandem with other measures, such as Net Present Value (NPV), especially in forestry. Let’s explore why. Q: Does IRR provide a reasonable more…
Simple reasons explain how and why timberland assets attract investors: Safety: timberland preserves capital. Growth: trees grow and land appreciates. Diversification: timberland behaves differently than stocks, bonds and stamp collections. The actual investing in and managing of timberland requires more…
Aunt Fanny reached into the side pocket of her one-piece camouflage jumpsuit. She pulled out a blue roll of Mentos. “Want one?” she asked. “Sure,” I said, pinching off a white mint from the tin-foiled roll and popping it into more…
Aunt Fanny put the HP calculator back in the pocket of her camouflage jumpsuit. She looked down and around at the ground covered in leaves, needles and twigs. Then, she turned to me and asked, “Nephew, what makes my forestland more…
Aunt Fanny opened her black-and-white marbled composition notebook and flipped a few pages. Then she closed the book and pulled out her HP calculator. She spoke while punching numbers into the HP. “Nephew, you’ve taught me a lot about my more…
Aunt Fanny and I stood on the woods road and looked through her forest of densely packed pine trees. Aunt Fanny removed her aviator sunglasses, folded them and put them in the front pocket of her camouflage jumpsuit. She turned more…
After measuring the diameter of the pine tree, Aunt Fanny handed the D-tape back to me. I returned her Cross pen and black-and-white marbled composition notebook. She opened the notebook and wrote down a few things. “Nephew, tell me more more…
At 5:10 in the morning, I pulled up to where the woods road met the county road near Murder Creek. A fading yellow metal gate blocked the entrance to the forest. I stepped out of the truck to unlock the more…
This post includes excerpts from Forisk’s timberland investment research and Brooks Mendell’s September 2014 presentation at the “Who Will Own the Forest?” conference in Portland, Oregon. The complete presentation is available here. During the ten-year period from January 2004 through more…