Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (6134)	5/11/2004 1:55:04 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 116555

Compare some builders listed below. Imagine their assets fall only 50% in value in a downturn. We'll call that Downturn Equity, just in round numbers. Centex $11 billion Annual Revenues $12 billion Assets at market value $9.0 billion Debt (-$3.0) billion Downturn Equity Pardee Homes, a division of Weyerhauser (I used to work there) $ -- Revenue not publicly disclosed $5.5 billion Assets $0.0 billion Debt $2.5 billion Downturn Equity Ryland Group $3.5 billion Revenue $1.7 billion Assets $1.2 billion Debt (-$0.8) billion Downturn Equity NVR Inc $1.0 billion Revenue $1.4 billion Assets $0.9 billion Debt (-$0.2) billion Downturn Equity