the 1:1, 10%/20% etc. that I used were just nice round numbers for illustration of a concept; land prices have been appreciating rather rapidly the last 10 years; my conclusion is the same; I know... login to read the rest
There's a reason the homebuilders appear cheap. Based on a study of the sector, with a focus on TOL, I've found that whether through options or on-balance sheet leverage the homebuilders have primarily generated their... login to read the rest
I agree with much of your analysis and valuation work. One thing that has frustrated me with this company is that although it does buy back stock, it has been a heavy user of... login to read the rest
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