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Ol’ Wisco | No BC is exactly right. If it were insurable at let's say a county average of 185, 85% insurance x $4 spring price = $629 gross (before basis). All gaurenteed by the full faith and credit of the American govt. Take that gaurentee away and put the full measure of risk on the producer and look at what what the real anticipated revenues of that ground show to give a correlated asset value (too many different ways to explain all the metrics for asset valuation). BC hit the nail on the head. | |
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interesting read
