7 Comments
 

Only in a few places like California.  Out there they also have esoteric water rights rules that give farmers first dibs 'because they were there first' instead of letting the market do its thing.  Here in greater NYC we have no problems. I think we've gotten about 6" of rain this week alone.

The only difference between Asset Management and Investment Research is assets. I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
 

Its because of these poor staring farmers we have. They are barely making it through. Especially the avocado and almond farmers. Woe is they.

 

I mean, it is technically a finite resource in many places while abundant in many others.  I can't imagine why someone (individual or sovereign territory) should NOT be allowed use financial instruments in order to more easily meet their water needs or derive benefit from ownership of water that is "theirs."  You can get into the whole "water is a human right" thing which I frankly disagree with as I'm of the opinion that no physical resource or service can be considered a "right" because no one is entitled to someone else's labor and or property. 

"If you don't have any enemies in life you have never stood up for anything" - Winston Churchill | "It's a testament to the sheer belligerence of the profession that people would rather argue about the 'risk-adjusted returns' of using inferior tooth cleaning methods." - kellycriterion
 

Surprised this wasn't done sooner tbh. Anything can be traded as far as I'm concerned. 

Never discuss with idiots, first they drag you at their level, then they beat you with experience.
 

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