There is no quick profit from farms

Trading in the shares remains thin, with none at all on at least two days since DBF came to the market on February 8. 

Nevertheless, the float was a success, with the share remaining a few cents above the $1.50 offer price, despite the recent market drop.

The thin market for the shares reflects the fact that more than 50 per cent of the shares are held by companies or individuals related to the Duxton Group, which manages the farm portfolio; indeed, the top 20 shareholders hold 91 per cent of the shares.

With the bulk of the shares held so tightly, any sustained buying would likely push the price up sharply. 

On the other hand, any investor who needed to sell in the current market could find it hard to find a buyer offering a good price.

The Punter, who is always on the lookout for a quick profit, does not regret his decision not to apply for DBF shares, but will keep an eye on them – especially if the company succeeds in adding more farms to its portfolio. 

He does, alas, regret not cashing in his options to sell CBA last week, when he was sitting on a $3,700 profit after the sharp fall in the market.

Pessimist that he is, he is not convinced that the current market rally will continue for very long, but those CBA options (CBADX8) will expire in April, so he is taking a profit while he can. 

He is also selling his Genetic Technology shares.

Although the company is effectively controlled by Blockchain Global, it has only agreed on a non binding term sheet as a framework for continuing discussions with BG on possibly applying blockchain technology to the medical and biotechnology fields.