How much of their book is even related to ag sector?
You’ve got to think outside the obvious …it’s not really about whether they have ag clients but the bigger picture.
Dairy prices are one of the lead indicators for general levels of economic activity ….and as Jeff has often said Heartland’s fortunes are closely tied to GDP (and employment)
one of the most ‘accurate’ economic forecasting models I’ve seen is one run by an investment manager called his 3 C’s Model ……inputs are Commodity Prices, Climate (soil moisture deficit) and Currency. Things are going to be good when the grass grows and producers are getting good prices and currency is favourable……and vice versa ."?like you’ve probably heard about the drought induced recessions NZ has every now and again.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
You’ve got to think outside the obvious …it’s not really about whether they have ag clients but the bigger picture.
Dairy prices are one of the lead indicators for general levels of economic activity ….and as Jeff has often said Heartland’s fortunes are closely tied to GDP (and employment)
one of the most ‘accurate’ economic forecasting models I’ve seen is one run by an investment manager called his 3 C’s Model ……inputs are Commodity Prices, Climate (soil moisture deficit) and Currency. Things are going to be good when the grass grows and producers are getting good prices and currency is favourable……and vice versa ."?like you’ve probably heard about the drought induced recessions NZ has every now and again.
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