Thursday, June 25, 2009

Lennar is a poor business.

It's a damn good thing I don't try to be a daily market timer. Par for the course with my long-term investments, I shorted Lennar the other day only to see earnings news showing that losses have widened to terrible new lows; yet the stock takes has rallied strongly. The business is still terrible and the price increase don't make much sense.. Now is a pretty good time to short home builders.

No comments: