farmers, page-8

Pretty decent return there Mike. Yes I am a little surprsied also but I guess TAN needs to make great money for all the dry years when they make nothing. Also, mgmt have in the past wasted a lot of money when it was flowing in, I wonder what the next nexteq plant or winery will be. Although in fairness it seems there has been a refocusing of the business. I ran the numbers very carefully on TAN at 33c and couldn't see them making any money at that time based on the prevailing cotton price. Obviously the price appreciated substantially from there and there was good buying in the mid to late 30s when you posted so often about the rising cotton price.

I think PAG and TAN mgmt have turned people away.