Landman's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/292063/comments http://seekingalpha.com/article/121171-financials-getting-slaughtered?source=feed#comment-393385 393385 Wed, 18 Feb 2009 10:23:02 -0500 http://seekingalpha.com/article/119603-homebuilders-agree-january-was-a-good-month?source=feed#comment-384121 384121 Wed, 11 Feb 2009 12:34:58 -0500 http://seekingalpha.com/article/119603-homebuilders-agree-january-was-a-good-month?source=feed#comment-382579 382579 cycles. We have just come out of the largest Residential Real Estate Bubble in history. Considering the last up cycle lasted for approx. 10 years, we have a long way to go in downward correction. Compounded by massive job losses, massive job outsourcing overseas, bank lending standards tightening, an aging Baby Boomer population that won't need large McMansions - the future looks quite bleak. The Chicaco Real Estate market crashed after the Great Depression in the early 1930's and didn't recover until the mid-1950's.]]> Tue, 10 Feb 2009 13:17:01 -0500 cycles. We have just come out of the largest Residential Real Estate Bubble in history. Considering the last up cycle lasted for approx. 10 years, we have a long way to go in downward correction. Compounded by massive job losses, massive job outsourcing overseas, bank lending standards tightening, an aging Baby Boomer population that won't need large McMansions - the future looks quite bleak. The Chicaco Real Estate market crashed after the Great Depression in the early 1930's and didn't recover until the mid-1950's.]]> http://seekingalpha.com/article/107536-the-week-that-solar-was-left-for-dead?source=feed#comment-314971 314971 Tue, 25 Nov 2008 16:16:15 -0500 http://seekingalpha.com/article/107553-looking-good-genco-in-particular-shipping-in-general?source=feed#comment-314967 314967 Tue, 25 Nov 2008 16:10:50 -0500 http://seekingalpha.com/article/107174-the-uptick-rule-mr-cox-is-it-really-that-devilish?source=feed#comment-314860 314860
The average investor has had his pockets picked by Hedge Funds shorting stocks into oblivion. Now the average investor/tax payer will have to pay into perpetuity to bail out the financial sector, auto sector, etc.

And our Government continues to do nothing except throw our taxpayer dollars at the problem.]]> Tue, 25 Nov 2008 14:24:25 -0500
The average investor has had his pockets picked by Hedge Funds shorting stocks into oblivion. Now the average investor/tax payer will have to pay into perpetuity to bail out the financial sector, auto sector, etc.

And our Government continues to do nothing except throw our taxpayer dollars at the problem.]]> http://seekingalpha.com/article/107174-the-uptick-rule-mr-cox-is-it-really-that-devilish?source=feed#comment-314846 314846 Tue, 25 Nov 2008 14:14:39 -0500 http://seekingalpha.com/article/107174-the-uptick-rule-mr-cox-is-it-really-that-devilish?source=feed#comment-314842 314842 Tue, 25 Nov 2008 14:13:58 -0500 http://seekingalpha.com/article/106078-amazon-apple-google-buying-on-the-way-down?source=feed#comment-306235 306235 Fri, 14 Nov 2008 13:25:47 -0500 http://seekingalpha.com/news/market_currents/post/11125?source=feed#comment-303359 303359 Tue, 11 Nov 2008 16:54:30 -0500 http://seekingalpha.com/article/105061-should-we-really-bail-out-the-big-three-automakers-with-73-20-per-hour-labor?source=feed#comment-301880 301880 Mon, 10 Nov 2008 10:37:16 -0500 http://seekingalpha.com/article/29105-buying-homebuilder-mdc-holdings-for-the-long-term?source=feed#comment-298756 298756
MDC is consolidating down to 7 offices nationally in late 2008 - this isn't a growth story, it's major contraction and consolidation at its best! It's hands on founders are getting older and more risk averse as they like the trappings their success has provided them. It's selling off its finished lot inventory at substantial markdowns which are a fraction of original cost. When the market rebounds, it will have to replace these expensive lots at substantially higher costs thereby reducing any potential future profit margins.

The Rocky Mountain Homebuilder bet far too much on local land in Denver in the 1980's and almost went out of business, ever since that time this homebuilder has been afraid of its own shadow. It's tried like hell to hold on to it's 10th place NAHB largest homebuilder placeholder, but will probably slip in the future as more agressive players that maximize cash flow/profits, value intellectual talent and minimize risk will push it aside.

The always Fiscally Conservative MDC will continue to brag about its strong balance sheet, large Wall Street Credit lines and minimal land holdings - this is the same old mantra I heard for years when MDC was so conservative it left hundreds of millions of dollars in lost opportunities (revenue) on the table in each state passing over a multitude of great profit making deals during the largest real estate expansion cycle in history. It was so bad I used to have to pull the wool over Corporate's eyes to get them to buy deals that later made them high double digit profit margins. That's right, fiscally conservative MDC Corporate literally had to be bamboozled to buy projects that later provided them with high double digit returns. I sold my stock near the top of the market for a 4x gain as I exited this company and probably wouldn't buy it again.

When homebuilders rebound, there will be many more agressive, nimble players who value intellectual talent, maximize profitability and whose stock prices will rebound much quicker.

Here's to a Merry Christmas Dave & Larry!]]> Wed, 05 Nov 2008 12:33:39 -0500
MDC is consolidating down to 7 offices nationally in late 2008 - this isn't a growth story, it's major contraction and consolidation at its best! It's hands on founders are getting older and more risk averse as they like the trappings their success has provided them. It's selling off its finished lot inventory at substantial markdowns which are a fraction of original cost. When the market rebounds, it will have to replace these expensive lots at substantially higher costs thereby reducing any potential future profit margins.

The Rocky Mountain Homebuilder bet far too much on local land in Denver in the 1980's and almost went out of business, ever since that time this homebuilder has been afraid of its own shadow. It's tried like hell to hold on to it's 10th place NAHB largest homebuilder placeholder, but will probably slip in the future as more agressive players that maximize cash flow/profits, value intellectual talent and minimize risk will push it aside.

The always Fiscally Conservative MDC will continue to brag about its strong balance sheet, large Wall Street Credit lines and minimal land holdings - this is the same old mantra I heard for years when MDC was so conservative it left hundreds of millions of dollars in lost opportunities (revenue) on the table in each state passing over a multitude of great profit making deals during the largest real estate expansion cycle in history. It was so bad I used to have to pull the wool over Corporate's eyes to get them to buy deals that later made them high double digit profit margins. That's right, fiscally conservative MDC Corporate literally had to be bamboozled to buy projects that later provided them with high double digit returns. I sold my stock near the top of the market for a 4x gain as I exited this company and probably wouldn't buy it again.

When homebuilders rebound, there will be many more agressive, nimble players who value intellectual talent, maximize profitability and whose stock prices will rebound much quicker.

Here's to a Merry Christmas Dave & Larry!]]>