Earnings season kicked off with a loss by Alcoa, and some soft numbers from a stock I own and follow, Mosaic (a href=”http://finance.yahoo.com/q?s=mosamp;.yficrumb=JXA13nFR3ag”MOS/a). They a href=”http://finance.yahoo.com/news/Mosaic-3Q-profit-plunges-apf-14875151.html”missed expected numbers by quite a bit/a. The numbers don’t actually matter that much right now. Many times with these announcements, the outlook is more important than the actual results. The market is forward looking, not backward. So, here’s the quote from CEO Jim Prokopanko:br /br /blockquote”Despite the turmoil in commodity markets, we remain confident that long-term agricultural fundamentals are excellent. This is a self-correcting cycle because demand for crop nutrients can only be deferred for so long,” said Jim Prokopanko, Mosaic’s president and chief executive officer. “Large crops are still required to secure the world’s food supply and crop nutrients will play an essential role in achieving that objective. We are well positioned financially and strategically to serve our customers and create value for our shareholders.”/blockquotebr /br /I am a believer long term in agricultural products. We’ve heard time and time again from the likes of Jim Rogers that this is truly one of the coming themes, and investors would be wise to heed that advice. br /br /Mosaic did miss last quarter, and investors reacted worse than they are today. The stock gapped pretty low in the morning, and worked its way back up throughout the day. The so-called “dumb money” typically trades in the morning, while the “smart money” trades at the end of the day, so we often see over-reactions as stocks open with questionable results. The stock is lower this morning, but not by a whole lot. I’m holding my position.br /br /Long MOS.div class=”blogger-post-footer”img width=’1′ height=’1′ src=’http://res1.blogblog.com/tracker/819581243324579563-8083991776495671007?l=briskycapital.blogspot.com’//div

Last 5 posts by Michael E. Brisky

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