17% per annum

Summertime reading has been a little slow, but here is a fun question:

Name the asset class:

17% return/yr past 10 yrs
No down years
Ours trades at 35 PE

I’ll spoil this with the answer (farmland).  There are not a lot of farm REITs in the US, and only a handful of foreign companies that are farmland focused – although I expect that to change going forward.

No charts, but a fund quote from GMO before two downloads:

“Much more importantly, investing is serious. It can and often is intellectually compelling. But it should not be driven by excitement, as it is for many individuals, and when treated that way will almost always end badly. My experience with American Raceways and Market Monitor and, more importantly, my experience at painfully wiping out myself and my wife financially did far more than teach or reteach some of the basic rules of investing.”


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Intro to Farmland

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