Eagle Materials (EXP) is an interesting angle on my sense that there may or may not be some houses built in the future. It's certainly not pretty to look at right now and its a cyclical business. I think it's pretty cheap and well positioned to take advantage of weakness. I even put a picture in this write-up, so I'm really pulling out all the stop for you, dear reader. I'd be interested in hearing your thoughts on commodity producers. Is Eagle just the tallest midget and gets permanently impaired if I'm wrong? They seem to be in a position that if things get worse, others will suffer a lot sooner than they do and as a 2nd or 3rd level thinker, the "market" corrects itself as a result and Eagle is fine. The basic case is that Eagle is still profitable and everyone else isn't. Is that self-serving and wishful thinking? I don't believe this is a particularly great business, but I think it's cheap and nobody seems to like it, so I'm naturally drawn to it. For thought.
Exp Write Up
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