While there are many people who work on Wall Street for reasons that have nothing to do with money (trading gives them a thrill, they enjoy analyzing companies, they love the hours, it's what they believe they were put on this earth to do, etc), there exists at least a handful of individuals who got into this whole thing for one reason and one reason only: the cash. To those people and more, investor Jim Rogers has some advice: become a farmer. Perhaps you're a first, second or third year investment banking analyst whose timing (re: when you graduated college but also dating back to when you were conceived) could not have been worse, for whom the year 2006 and the associated bonuses are but a dream. Perhaps you're a seasoned veteran making great money who's wanted to try something new but couldn't think of an industry that could beat your current pay. Perhaps you're employed by a hedge fund whose performance YTD is not inspiring confidence in this year's bonus. Perhaps you're a banker who wants to be compensated in cash and not company stock paid out over 14 years. Doesn't matter if you've never done manual labor in your life, if you don't know the first thing about milking anything, if you're emotionally scarred from the one time you rode a tractor. If you wanna make some real money, start working your contacts on the farm.
If you want to become rich, Jim Rogers, investment whiz, best-selling author and one of Wall Street's towering personalities, has this advice: Become a farmer. Food prices have been high recently. Some have questioned how long that can continue. Not Rogers. He predicts that farming incomes will rise dramatically in the next few decades, faster than those in most other industries — even Wall Street...But in the past few years, thanks to a wealthier (and hungrier) emerging-market middle class and a boom in biofuels, the business of growing has once again become a growth business. At a time when the overall economy is limping along at an anemic growth rate of 1.9%, net farm income was up 27% last year and is expected to jump another 20% in 2011.
You could go from hunting the next great short to hunting the bug that is fucking your wheat crop this year and still make it rain on pay day. Just something to think about.