Jim Rogers Buys Farmland ~ market folly

Friday, March 6, 2009

Jim Rogers Buys Farmland

In a recent interview with CNBC, Jim Rogers has taken his bullish stance on agriculture to the next level: He is buying Canadian and Brazilian farmland. He says,

"I am buying greenfield land in Brazil and existing farms in Canada and starting to farm it. The funds are clearing the land, fertilizing it, irrigating it and hiring farmers and some day will probably sell the land but that is a remote prospect."

We've known about Rogers' bullishness on agriculture for some time. But, this bet takes it up a notch. By purchasing the land itself, Rogers is securing a stream of future production in a world he argues will be pressed for food production in the future as demand rises. And, for what it's worth, Don Coxe agrees with Rogers.

Other notable agriculture bulls include Rogers' ex-Quantum fund partner George Soros. As we noted in our hedge fund portfolio tracking series, Soros has bought a ton of Potash. Rogers, though, has certainly taken it to the next level and has placed his bet on the next big real estate boom. For more thoughts from Rogers, check out his stance on currencies as well.

Here are Rogers' thoughts on video:

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