Spencer Williams started his career as a river guide in Colorado's Upper Arkansas River Valley. Those experiences on the water led him to law school and to a career as a water rights attorney. He now works for Ponderosa Advisors, advising clients on water rights and water markets across the American West. Spencer also works with Ponderosa's new software platform Water Sage, an innovative software program that is redefining water research across the West. • In this episode, we dig into the details of water in the West—What exactly a what right is, how water rights can be severed from the land, and the history of water as a property right. We talk about water as an investment, and how big money is currently rushing into the West's water markets. We discuss his work at Ponderosa and Water Sage, and we also tell some stories from his days as a river guide. It was a fun and informative conservation about an important topic. I hope you enjoy! • http://mountainandprairie.com/spencer-williams/ --- TOPICS DISCUSSED: 4:30 - How Spencer describes his work 7:00 - Water Rights 101 9:00 - History of water in Colorado 10:10 - Water as a property right 12:00 - Ability to severe water from the land 16:15 - Wells versus water rights 18:33 - "First in time, first in right" explained 21:50 - Ranch buyer "rules of thumb" for evaluating water rights 25:30 - Non-use and water rights abandonment explained 28:55 - Water rights as an investment 35:30 - Spencer's experience as a river guide 37:00 - Describing Colorado's Upper Arkansas River Valley 40:00 - Arkansas River flow management explained 42:45 - More river guiding stories 45:00 - Water Sage explained and discussed 54:00 - Future plans for Water Sage 55:35 - Spencer's thoughts on the future of water in the West 57:35 - Favorite books 59:17 - Favorite documentaries 59:45 - Favorite location in the West 1:00:15 - Recommended location and activities 1:01:40 - Biggest challenge facing Colorado 1:03:05 - Spencer's request of the listeners 1:05:00 - Spencer's contact info --- This episode is sponsored by Mountain Khakis. Rugged. Authentic. Reliable. Timeless. What started as a casual conversation at the Shady Lady Saloon in Jackson Hole, WY has become a top-performing mountain-inspired lifestyle apparel brand. Established in 2003, Mountain Khakis quickly became a staple in the wardrobe of everyone from ranch hands to golf pros, those who travel by jet, as well as those who travel by thumb. The Mountain Khakis brand story continues to resonate as it connects to the enthusiast who believes that freedom and rugged adventure is a way of life. Join the conversation at www.mountainkhakis.com ---