a sad day, page-81

Hi,
My feeling is that the demise of the MIS system would be a positive for agriculture in Australia.
It has produced distortions such as increases in land prices, overproduction of specific crops,generally unfair competition for those sectors not supported by the taxpayer. I think you will find also that the MIS based companies haven't been terribly efficient farmers either.
Understandable, as their priority will tend to be the selling of next years scheme, not what a particular plot will actually produce at some future time.
They became financial services companies, with agriculture just fodder for the financial engineers.
If the MIS scheme could have been applied to "stamp collecting", it would have been next years offering.
I hope TIM can survive as a pure manager of its present holdings, but even if it does, little value likely for present shareholders.
not so cheery