Yesterday I mentioned a company in passing called FindWhat.com. I questioned the need for what they do. I did not know they were reporting earnings yesterday. The stock is down 20% or so today on the news.
Process not product. I made it clear I didn't know much about the company. My entire thought was a basic sniff test that anyone is capable of.
If you can buy into this type of thought process at all you have to be prepared for missing some big things in the market. For me the big thing I have missed (or maybe am still missing) is the seemingly infinite demand for new houses. I have never owned a homebuilder stock personally or for clients. I think my problem is that I do not understand the never ending demand. This is a short coming of mine. Every investor has short comings, that's ok.
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1 comments:
Good timing on FWHT.
Regarding the homebuilders, I don't know what to think about them either. Where does the infinite demand come from and how much do interest rates need to rise to change the story? I looked at TOL, the luxury bldr, many times but have never pulled the trigger....up over 100% in the last 12 months.
I also look at the prices of homes in my community and just scratch my head. They increase every month. And we've got realtors in the community that I live in that gross 7 figures a year. Amazing.
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