That's a great idea to bring a different perspective to...

That's a great idea to bring a different perspective to long-term investing Roy2U.

The biggest question I have is how do you then discount the value of these two cashflows back to present? I agree that if we can leap forward to 2023 and TFC's cashflows are as Cannacord forecasts it is a great deal more attractive than real estate. But how should one account for the expected greater uncertainty (potentially positive as well as negative) for TFC's earnings? Perhaps use the discount rates given by TFC's auditors for valuing plantations, whereas property should be discounted by home loan interest rates?