http://online.wsj.com/article/SB120881517227532621.html?mod=googlenews_wsj"Load up the pantry," says Manu Daftary, one of Wall Street's top investors and the manager of the Quaker Strategic Growth mutual fund. "I think prices are going higher. People are too complacent. They think it isn't going to happen here. But I don't know how the food companies can absorb higher costs."
FYI - I did some research on Daftary and the Quaker Strategic Growth Fund (I have a subscription to the online edition to the journal.) It should serve as a gentle warning for those who follow a mutual fund manager's advice.
Almost 10% of this mutual fund is invested in Archer-Daniels-Midland, a large agricultural firm and a Potash Company which is one of the largest manufacturers of agricultural fertilizer. Wheen Daftary suggests people buy more food, it also helps out the stocks which make up a good percentage of his mutual fund. I'm not saying that he's being dishonest, but he should operate in a mode of full disclosure.
This doesn't mean we shouldn't buy extra food, I'm just apply my job skills from a former life (business analyst) to suggest that Daftary's comments need to be "consumed with a grain of salt."
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