Steve Romick - Forget Gold, Buy into the Gold You Can Eat.. Farmland
Perhaps we should, because some very smart investors such as Dr. Michael Burry and Jim Rogers have both been openly bullish on farmland.
Forbes interviewed well-known value investor Steve Romick who also likes farmland as an investment.
Why? A few reasons:
- People own gold as a bet against fiat currencies, but Romick doesn't like it because it is impossible to value. Instead Romick suggests farmland as an alternative that will benefit from all of the same inflationary pressures that gold does, but also provides an underlying income stream.
- In both an inflation scenario and a situation where there is a decline in fiat currencies farmland will benefit
- Farmland is a play on emerging economies where the move to a more protein-rich diet is going to continue to increase demand for grains.
Romick hits on farmland and other items in the half-hour interview below: