Value Investing World

Wednesday, July 31, 2013

Uralkali Opens $20B Freely Traded Potash Market (video)

July 31 (Bloomberg) -- Blomberg's Ryan Chilcote reports that potash supplier Uralkali announced an end to production restrictions, opening up the $20 billion industry in a change that may lower prices as much as 33 percent. He speaks on Bloomberg Television's "On The Move."

……….

This is the news that caused the potash suppliers (e.g. POT, MOS) to get beaten down yesterday. As such, it may be a good time to read-up on some history and the possible long-term trends driving the industry. Some suggestions:

Book: Enriching the Earth: Fritz Haber, Carl Bosch, and the Transformation of World Food Production – by Vaclav Smil

Passport Capital: From Dirt to Dinner Table: The Case for Agriculture (2009)

Jeremy Grantham’s 2011 letters:

Time to Wake Up: Days of Abundant Resources and Falling Prices Are Over Forever

Resource Limitations 2: Separating the Dangerous from the Merely Serious

Posted by Joe at 7/31/2013
Labels: Jeremy Grantham, Vaclav Smil
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Value Investing World is a blog dedicated to promoting the multidisciplinary approach to investing and development of – as Charlie Munger describes it – a latticework of mental models. Although largely focused on linking to investing and economic material it deems of interest, it will also post and link to material from other disciplines that it thinks worth reading or watching.

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  • The Best of Charlie Munger: 1994-2011
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  • Poor Charlie's Almanack
  • An Investing Principles Checklist from Poor Charlie's Almanack
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  • Second Interview with Peter Bevelin
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  • Dr. Peter Drucker: FEEDBACK: KEY TO CONTINUOUS LEARNING
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  • The Most Astounding Fact About the Universe

Charlie Munger

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  • The Best of Charlie Munger: 1994-2011
  • VIDEO: Charlie Munger - USC Law School Commencement - May 13, 2007
  • NOTES: Charlie Munger - USC Law School Commencement - May 13, 2007
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Warren Buffett

  • Warren Buffett's Letters to Berkshire Shareholders
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Ben Franklin

  • Ben Franklin's 13 Virtues
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Benjamin Graham

  • The Papers of Benjamin Graham (PDF)
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Peter Bevelin

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  • PDF of Peter Bevelin interviews (2007 and 2009 with Value Investing World; 2016 with Farnam Street)

Howard Marks

  • Howard Marks memos
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  • Book: The Most Important Thing
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Seth Klarman

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Michael Mauboussin

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  • Who Is On the Other Side?
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  • What Does an EV/EBITDA Multiple Mean?
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  • Capital Allocation Outside the U.S.
  • Operating Leverage

Diversification

  • Warren Buffett on Diversification - 1966
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  • Phil Fisher on diversification
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  • A quick diversification thought...
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Checklists

  • Charlie and Checklists
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  • Key Checklist Items

Expert Performance / Self-Improvement

  • Bill Gates quote from Charlie Rose interview (or, how the world's best companies are built by fanatics)
  • Dr. Peter Drucker: FEEDBACK: KEY TO CONTINUOUS LEARNING
  • What it takes to be great

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