Just curious as to what has made you change your mind and sell out
I get the impression Madamswer has always been a long term thinker as opposed to a trader
I think you might have answered your own question (I was writing this earlier before Madam's response).
Elders, along with practically every other company on the ASX have to deal with business / economic cycles. There's nothing new about this except that normally it's easier to determine the stage of the cycle we're in at any point in time. Right now, I'm not so sure. We have inflation supposedly falling while long term bond rates are rising which makes for a volatile trading period.
And, for Elders, they have to deal with a weather cycle inside the business cycle which makes reliable profit projections across ensuing years very difficult.
So "Elders" and "long term thinking" aren't seen in the same sentence too often.
I get that they're endeavouring to be a one-stop shop for all matters Primary and I think it's a reasonably noble aspiration but it's not easy to be financially successful at all times for the reasons mentioned above, especially when your major customers are, as often as not, cash poor.
I've not had a lot of success here. I have stayed away from "farming" options on the market until the war in Ukraine when I quickly assumed that the interruption to the normal food chains would provide an option for a food bowl like Australia.
So, I'm a fair way behind here but Hold because I suspect that the downside risk from here is minimal while the upside risk is ..... well, probably less minimal.
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