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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (76329)	12/5/2024 5:08:14 PM
From: Harshu Vyas	of 78666

I was wrong to make that "NVR-like" claim having done more research upon it and comparing business models in more detail. Sorry. Am hoping I didn't mislead anyone into buying shares. Springfield is substantially more capital intensive than NVR and it's really only the cheapest/smallest compared to other UK competitors. In fact, this time last year they were having to sell land to reduce debt! NVR certainly doesn't have that problem. Looking back I'm not sure how I made the link between NVR and Springfield - I must have skimmed some poor external research online and assumed it to be true. Having gone through the reports and presentations in more detail it certainly wasn't something I read from themselves. My conclusion is that no UK homebuilder can do what NVR does in the US. You're better off just buying the Americanco as usual.

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