TTU150: Scarcity, Security, and the Shift to Soil ft. Artem Milinchuk
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 670 Ratings
🗓️ 23 July 2025
⏱️ 66 minutes
🧾️ Download transcript
Summary
What happens when an overlooked asset becomes essential? Artem Milinchuk returns to share how farmland, long seen as niche... is quietly stepping into the center of long-term portfolios. He and Niels discuss what’s changed since 2020: rising inflation, tighter capital, a demographic handoff reshaping land ownership, and how tech is altering both the economics and culture of agriculture. This isn’t about chasing yield. It’s about owning what endures. From almonds to avocados, tariffs to treasuries, and legacy to liquidity, this episode offers a clear-eyed look at an asset class rooted in necessity, and poised for relevance.
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Episode Timestamps:
02:24 - A recap on our previous conversation
06:22 - What has changed about their strategy since our last conversation (in 2020)?
10:28 - How does farmland investing actually generate income?
12:32 - How does farmland investing work and operate?
15:28 - Geopolitical volatility - How FarmTogether deals with tariffs
19:00 - How different types of crops carries different types of risk
23:22 - A deep dive into the volatility behind farmland investing
27:40 - What is a fair level of volatility to expect from farmland investing?
30:49 - The tech side of agriculture - where are we heading?
33:58 - Major changes in...
Transcript
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| 0:00.0 | Uncertainty about the future. Why are like tech stocks or crypto more volatile? |
| 0:11.5 | Because we still don't know what they are, right? Like you still go, oh, okay, this is everything. |
| 0:15.0 | This is nothing. With farmland, you don't have an uncertainty about what this asset class is. |
| 0:21.6 | Until we are AI robots living on Mars, like we're going to have to eat. |
| 0:27.6 | And you can only produce food with farmland. |
| 0:30.6 | So there's just like inherently less uncertainty about what this asset is. |
| 0:35.6 | Imagine spending an hour with the world's greatest traders. |
| 0:40.7 | Imagine learning from their experiences, their successes, their failures. |
| 0:45.1 | Imagine no more. |
| 0:46.9 | Welcome to Top Traders Unplugged, the place where you can learn from the best hedge fund |
| 0:51.8 | managers in the world so you can take your manager diligence, or investment career to the next level. |
| 0:57.9 | Before we begin today's conversation, remember to keep two things in mind. |
| 1:01.9 | All the discussion we'll have about investment performance is about the past, and past |
| 1:06.0 | performance does not guarantee or even infer anything about future performance. |
| 1:10.6 | Also understand that there's a significant risk of financial loss with all investment strategies, |
| 1:14.8 | and you need to request and understand the specific risks from the investment manager about their product |
| 1:20.2 | before you make investment decisions. |
| 1:22.7 | Here's your host, veteran hedge fund manager, Nealiels Kostrup Larson. |
| 1:35.5 | Hey everyone and welcome to another edition of Top Traders on Blog, |
| 1:37.9 | where today I'm rejoined by Artem Milinchuk, |
| 1:40.9 | who is the founder and head of strategy at Farm Together. |
| 1:45.3 | And today we are continuing a journey that started about five years ago when Artim joined me for the first time for what turned out to be a very interesting look into |
... |
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