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Getting Jobbed 01/06/23


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Do you dream of being a serious pot farmer?

I mean... serious?

Not some piker with a trailer up a forest road with 100 plants planned for the season....

Not even some piker with your permits and mixed-light greenhouse yielding 250 plants per season....

I. Mean.

SERIOUS!

Originally sold for a whopping $3.04m in April 2021, serial price drops now have an asking of $2.165m

Quote

There is currently a cannabis operation on the property. Use that or switch into another agriculture crop. Seller has decided it is time to sell this lovely location and has dropped the price. 

Priced to eat almost $1 million on a holding period of 22 months or whatever. Wow. Perhaps telling that the 
"pitch" entertains switching production out of cannabis. Symptomatic of the situation. 

There are more & more & more properties I don't bother to list.

But this one is "different-industrial":

https://www.redfin.com/CA/Rio-Dell/955-Dinsmore-Ranch-Rd-95562/home/179237922

Flood... fire-sales... one imagines next, jingle-mail.....

 

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33 minutes ago, Jimi said:

There are more & more & more properties I don't bother to list

Some of these may repeat what I've previously posted here, but I have something like 2 dozen Redfin tabs open (not all about farms), and actually should restart my computer every month or something... so I am clearing books at the beginning of the year. 

https://www.redfin.com/CA/Douglas-City/1750-Indian-Creek-Rd-96024/home/62172443

https://www.redfin.com/CA/Bridgeville/39883-CA-36-95526/home/115732307

https://www.redfin.com/CA/Willow-Creek/78acre-Creeks-Rd-95573/home/183365123

https://www.redfin.com/CA/Hopland/12940-Adobe-Creek-Rd-95449/home/120112821

https://www.redfin.com/CA/Yorkville/32301-California-128-95494/home/179222169

https://www.redfin.com/CA/Lewiston/51-Twin-Oaks-Rd-96052/home/124394498

https://www.redfin.com/CA/Lewiston/231-Dead-Mule-Gulch-Rd-96052/home/124405806

https://www.redfin.com/CA/Hayfork/341-Buck-96041/home/183488014

https://www.redfin.com/CA/Myers-Flat/0-Dyerville-Loop-Rd-95554/home/183488000

https://www.redfin.com/CA/Hayfork/200-Quail-VLY-96041/home/183578280

https://www.redfin.com/CA/Hayfork/430-Trinity-Pines-Dr-96041/home/124383068

https://www.redfin.com/CA/Hayfork/2220-Post-Mountain-Rd-96041/home/124468608

https://www.redfin.com/CA/Hayfork/8021-Rattlesnake-Rd-96041/home/124440038

It's an economic fiasco to my eye - pretty sure all of these above were listed - or enjoyed a price cut - in the last 14 days. These properties were typically acquired in a different rate environment with a different set of return assumptions. Today, financing a property is far more costly at a moment when the returns to production have collapsed, and federal regulatory relief is off the table. 

2023 will only bring more.

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Money Map Press was just starting the National Institute for Noneabis Investors while I was there. 

Didn't take long for it to disappear.  But did you read the comments? The subscribers were not happy, to say the least. One referred to "Greg" as being sort of in charge of the pub. He was also my "handler." I called him, Hammer. 

https://www.stockgumshoe.com/reviews/national-institute-for-cannabis-investors/comment-page-1/#comments

I checked in on my friends over there early last year, and was surprised to see that Mike Ward and Keith Fitz-Gerald were both gone. Mike built MMP from the ground up, although it's just one unit of Bill Bonner's massive Agora publishing operation. Mike was the show there. But the description of him in some the comments was pretty accurate, I think. Charming, aggressive marketer, lacking in any semblance of morality.   

The guy that took over for him, Bob Keppel, I always thought was too nice for that business. In fact, almost all the people I dealt with there were really nice, really smart people. Mike was very charming. Very pleasant. And very, very smart.  I got to know Shah Gilani a little bit. I really liked Shah. Smart, always sharply tailored, well spoken, and usually on the right side of the market. Didn't know the others at all. 

My editor there, Liz, is still there. A brilliant young woman who was also very sweet. I really enjoyed working with her. 

Some of their newsletters that were there when I was, are still running. So those must be doing a decent job of subscriber retention through all the market's ups and downs. 

Apparently, they got the message on NICI too late. They jumped on a bandwagon to a smoky hell right at the high and rode it all the down the crash. Seems the management of the company got smoked. 

I'm surmising, of course.  

The newsletter business is extremely cutthroat. I wasn't cut out for it. But I enjoyed the experience, and learned a great deal. My work did not give them enough of a hook that they could promote. If it doesn't have the potential to make them millions, they dump it.

I got dumped, mercifully. I went back to focusing on Liquidity Trader, Wall Street Examiner, and of course, my first love right here. 

It's better to do what you love, than merely work for money trying to fit into a scheme that may not be right for you.  Then, when your time is up, you can go out like Sinatra.

Yes, it was my way.  

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I should add that while doing it "my way," my goal is always to help others through the lens of what I see. I know that there are some others in this business who feel the same way, but my sense is that we are in the minority.  

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21 hours ago, fxfox said:

https://en.m.wikipedia.org/wiki/Miracle_at_the_Meadowlands
 

ah, that‘s about that fumble. I meant the comeback one:

https://en.m.wikipedia.org/wiki/Miracle_at_the_New_Meadowlands
 

😎💪🏻

The Fumble is why they kneel on the ball "if possible"....(Victory Formation)

Now lets see how the Rules Changes for the Bills-Bengals "cancellation game" (AFC Play-Offs)

change the WWE, ooops I mean, NFL.....

>: Spiking the ball to kill the clock is not intentional grounding......

 

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It's a peculiar way to look at it, but the Fed is losing control of long rates, to the downside.  That's before there is a shortage of notes when the debt ceiling battle kick in and those are going to be epic. Well maybe they are happy with the 10 year around 3.5% and wildly inverted yield curve. 

I don't think short covering can explain T Notes yesterday. I was not kidding with my lead balloon question  of last month, if we have hit the high in long rates on this cycle. I know all the reasons why not. Still...

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