High Quality Value Investing with a Tactical Twist With Jeff Muhlenkamp
Excess Returns
00:00
Are You Going to Buy a Housing Company?
The first thing you have to think about is when you buy it. And this is particularly true in my opinion for companies that have earnings that vary a lot with the economic cycle, right? So I'll just call it sift with low companies. But you got to think about at the beginning, how you want to play it. Am I going to play this housing company for one cycle of the housing market? Or do I want to ride this through over multiple cycles of thehousing market? You don't want to change your mind in the middle; otherwise, you'll start to ride it down and it'll be down 30 or 40%.
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