Tippy, I do not agree with your statement "Remember the MIS...

Tippy, I do not agree with your statement "Remember the MIS sector only collapsed for one reason. The one year they could not sell a new project was the one year than ran out of money as all the MIS management fees had all been sucked dry"

I (reluctantly) invested in 3 MIS schemes in 2008. The one scheme that failed did not have any ongoing grower fees. Where as the two that survived have annual grower fees. This provides the managers with a cash injection each year.

Furthermore, I believe TFC did not sell any new MIS projects - or substantially reduced - in 2009 and 2010. So if there was going to be a problem it would have been during that period.

TFC uses its cash to service those MIS growers that are electing to not pay their grower fees and receive a reduced harvest. I did see some figures on this. It was a lot higher than I expected; something like 20 or 20% of the growers.

Also, TFC stated in one of its investor briefings that a large national investment adviser has recommenced marketing sandalwood lots to its clients. TFC said it expected increased MIS sales this FY as a result.

Thanks for your posts. I appreciate reading different views to mine: especially negative views when I am concerned my rose coloured glasses could be affecting my judgement.