They have take an conservative play in Fortune Brands & Security
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“eventual” was the key word here.they are just excited that they bought 17% of a company is all.now the press release showing their happiness and jubilation as if now the housing market is all champion and shit. i can go anywhere in chicago,and now that they have drastically lowered “fair market value”( of which your property tax is formulated),and find stock that would blow you away, in area’s that would boggle your mind for almost nothing on the dollar. and if it’s a hud home,and i’ve found some that are on their books, that would freak someone out because of the location and structure, for fair market value.. it’s really become astonishing,just got to know where to look.
i’m more interested in his big play on the HK currency move he has on.
17% ownership is no small potatoes
According to info on Calculated Risk the reno market has picked up and I would guess this business has a fair exposure to kitchen and fittings replacement. Perhaps someone knows the split of business between reno and new to share with us. While it may take a while for the new home market to recover to 1.4 million units a year if the business is not exposed to a lot of debt I would be a buyer at this stage of the cycle. Now debt ridden companies exposed to the market would be risky as evidenced by the gyration in the leveraged building stocks of late.
i understand that.i should buy 17% of toll,or hov. come on.
@oldsalt.lowes come to mind.i’ve done home repair and building most of my life,even when the economy was humming along, these home improvement stores have come and gone.