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This post is the first in a series related to the Q4 2021 Forisk Research Quarterly (FRQ), which includes forest industry analysis, timber price forecasts, and featured research on forest carbon. The U.S. housing market dipped slightly in September, largely more…
A timberland investment, in and of itself, comprises a bundle of diversified cash flows. The sources of these flows include softwood and hardwood logs and fiber, hunting leases, cell phone towers and, increasingly, ecosystem services such as carbon sequestration. These more…
Aunt Fanny called at 4:45 in the morning. “Nephew, tell me about forest carbon.” “Do I have to?” I asked. “I avoid big words till the sun rises and my first cup of coffee.” Aunt Fanny laughed. “Tell you what. more…
This post is the second in a series related to the Q3 2021 Forisk Research Quarterly (FRQ), which includes forest industry analysis, timber price forecasts, and featured research on forest carbon. Each quarter when updating our Forisk Research Quarterly (FRQ) more…
Forest carbon can affect timberland values to the extent that robust markets for carbon support reliable cash flows to investors. With wood, the economic value of trees derives from the ability of manufacturers to turn logs into value added products more…
This post is the fourth in a series related to the Q2 2021 Forisk Research Quarterly (FRQ), which includes forest industry analysis, timber price forecasts and featured research on forest carbon. Markets facilitate trade between buyers and sellers; they assign value more…
This is the second in a series related to the Q2 2021 Forisk Research Quarterly (FRQ), which includes forest industry analysis and timber price forecasts for North America. Each quarter when updating our Forisk Research Quarterly (FRQ) forecast models, we revisit more…
The physical facts of nature help us, at times, reconcile contradictions in the marketplace. Consider the disparity between sky-scraping softwood lumber prices and the pedestrian prices received by forestland owners in the U.S. South for their logs. I hear from more…
This post includes themes addressed in the Applied Forest Finance course. When applying Net Present Value (NPV) in finance to evaluate investments, it’s appropriate to use a discount rate that reflects the marginal cost of capital of the firm. In business more…
This post includes themes addressed in our Applied Forest Finance course. Behavioral finance teaches us that we are prone to both emotional error and brilliant insight, and sometimes we confuse the two. For this reason, when evaluating investments, we value clear more…