Stayer I am back looking on the basis of current SP. Action is on two fronts 'asset play' and just the basics. It is notoriously difficult to drag an old school farming business onto a new track. I am sure that there have been many screw ups along the way. This is normal. It is also normal if you make it through to the other side for there to be jumps in productivity and increased ROI.
I am hoping that if they are in this part of the cycle that we will see less own goals and more wins on the board. If not the asset is what it is and there for the taking.
Either way it is a win at this price. In my opinion
Buffett/Munger: Cattle Ranching is "Worst" business, page-13
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