Whole Foods: The horse is out of the barn
On 12/11/07 I unfortunately penned Whole Foods: Strong buy below $44. Whoops, what the hell was I thinking?
20/20 hind sight is always perfect but who would have guessed oil would be $127 a barrel and food inflation approaching double digits with un-confirmed shortages of rice. OK, the governments of the world assure us that there is plenty of rice, but... do you believe them?
Food, energy, land use and the environment is the next big thing. Forget Apple and think apple.
Whole Foods will survive because they are the leader in that new food movement, what value is in U.S. Dollar terms it is anyones guess. If you own it, I am not selling and in fact I used this last fall as an opportunity to lower my average cost. This is one of those times a speculation becomes an investment and my time horizon has extended to several years from several months. It is going to take some time to discover the new world food order.
20/20 hind sight is always perfect but who would have guessed oil would be $127 a barrel and food inflation approaching double digits with un-confirmed shortages of rice. OK, the governments of the world assure us that there is plenty of rice, but... do you believe them?
Food, energy, land use and the environment is the next big thing. Forget Apple and think apple.
Whole Foods will survive because they are the leader in that new food movement, what value is in U.S. Dollar terms it is anyones guess. If you own it, I am not selling and in fact I used this last fall as an opportunity to lower my average cost. This is one of those times a speculation becomes an investment and my time horizon has extended to several years from several months. It is going to take some time to discover the new world food order.
I'm interested to hear your thoughts since you posted this.
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