Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Poor Yields Sap SLC Agricola

Three out of four will have to do. My Alpha-Rich calls to buy South American ag companies Adecoagro (NYSE:AGRO) and Cresud (NASDAQ:CRESY) have both worked out well, with performance well ahead of the S&P 500, and my relative bearishness on BrasilAgro (NYSE:LND) has likewise worked out with a share price decline of 10%. SLC Agricola (OTCPK:SLCJY) is the exception and the stock that has not performed as I had thought it should. While the 8% return from my call has basically matched the performance of the Bovespa, it lags the performance of the S&P 500 and the performance of the Brazilian-listed shares (SLCE3.SA), which have risen about 18%.

Blaming currency moves and/or...

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