Marine Products (MPX) has been on a tear, up 100% over the last two years, with little to no improvement in the company's growth prospects or fundamentals. There appears to be a level of irrational exuberance surrounding the stock that's related to the belief that as discretionary income rises, consumers will choose to spend that money on boats, as opposed to other recreational activities and products.
"If it flies, floats or fornicates, always rent it." -Felix Dennis
The boat business remains a poor business to be in
Marine is a manufacturer of boats, making the number one sterndrive brand Chaparral, sport fishing boats via its Robalo brand. The economics of the boat industry are...
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