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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: Ron McKinnon who wrote (38775)	3/4/2002 1:07:22 PM
From: Ron McKinnon	Read Replies (1) of 53068

Odette Galli Homebuilders 3/04/02 12:44 PM ET Dan makes some great points on homebuilders' stocks, today and in previous columns. The group is up over 4% today and, anyway you cut it, is trading at the absolute top of its historical valuations, on P/E and on an even better measure--price to book value. Take D.R. Horton, for example, it's now trading at a price to book value ratio of 2.5--it's all time high. The stock is up over 82% since I recommended it just months ago. It just doesn't get any better than that. You have to argue that things are really really different this time to hold onto the stocks for much longer. That's a dangerous game to play

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