in a world of zero interest rates (or close to) the valuation of...

in a world of zero interest rates (or close to) the valuation of yield stocks has gone crazy, as investors, incorrectly in some cases impute the current yield into the future...see TCL et al going crazy. Those stocks without yield have tended to be left out, like TFC

However TFC is interesting in this regard as the "real" earnings growth is quite predicatable and long tailed into the future, driven by the ongoing growth of the plantations....in essence the "earnings" are being reinvested in the business. The market incorrectly does not value this...but when the earnings stream starts to flow with the harvest it will be valued............in the meantime the inherent value of the stock just builds.......

This stock really is in the Infrastructure stock category but just not realised by the market yet.....cant wait...