Investing by the Books cover image

#48 Cole Smead on Money Masters

Investing by the Books

NOTE

Bill Miller's Advice on Home Builders and Balance Sheets

The speaker met with Samantha McElmore and someone else to talk about home builders and their struggling industry/nThe speaker recalls an interaction with Bill Miller where they discussed the criteria for evaluating home builders/nThey mentioned having eight criteria, but Bill Miller suggested they should only have seven/nBill Miller emphasized the importance of considering the balance sheet of home builders/nThe speaker considers Bill Miller's statement as one of the greatest lines they've ever heard in their industry/nThe key lesson from Bill Miller's statement is that home builders with weak balance sheets tend to perform poorly

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