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Strategies & Market Trends : Value Investing

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From: Harshu Vyas	9/7/2023 5:58:55 AM
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Thoughts on LL flooring? Looks cheap - sure it's bleeding losses, but if there's material strength in the US housing market, then it's a no-brainer, right? There are risks - CAO left recently which Chanos says is usually a red flag. But LL also announced they're looking into a sale, merger etc. Certainly worth more than $100m... Balance sheet isn't great given that they're likely going to take losses in the future - income statement's ugly too. Low margins. Still, with retained earnings of $128m the company does "work" when conditions are favourable. I know some of you aren't fans of buying cyclicals when they're unprofitable - to me, it's the only way it makes any sense! In fact, I don't think I'm yet to buy a cyclical with a positive P/E. No position, but could be worth a punt at some point. Need to read a little bit more. Best, Harshu Vyas

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