I did a recent post on Sun Communities, a manufactured housing and RV park manager. I liked the core business and outlook, but returns on capital seemed too low and the the REIT structure made them over reliant on capital markets for growth. I could be wrong on that name, …

KAR auction services, the company that runs used car auctions, looks on sale right now. KAR has been under pressure from COVID impacts to the business, but unlike other COVID-impacted names (where investors are seeing through the clouds), the stock is still down meaningfully. KAR reported earnings Q4’20 earnings and …

Masco is a leading building products company. If you own a home, there is a decent chance you’ve bought their products at some point. Products range from Behr and Kilz paint to plumbing products such as the Delta brand, among many others. Masco has undergone a significant portfolio shift overtime, …

I had the pleasure of joining my good friend, Ben, on his podcast. This was the third time I’ve joined him, but this conversation spanned such a wide array of topics that my head was spinning with where I want to research new opportunities. It just shows how good of …

Today will be a quick idea on Civeo. The bottom line is that CVEO stock trades at ~25% FCF yield, is only ~2.5x levered, and there is a “forced” seller I think is driving down the stock. Ok – “forced” seller is kinda click bait. The company completed an acquisition …

When you think about all the articles being written about shortages and fears of inflation, it seems like the US economy is doing very well. You can’t really have those things without consumer demand. Indeed, some are calling for GDP growth of 8% in 2021 and a big increase in …

Tax loss harvesting is something I tend to think about after a strong year of equity returns. I find myself asking if I should reduce risk in some names or at least re-balance the portfolio. The problem is that this can create significant capital gains. That said, if you are …

“Past performance is not indicative of future results” you say as you read this post. But it can be a tool for analyzing what asset allocation performed the best. The markets are particularly tough to apply history to, though, because of the wide amount of factors involved. Interest rates, valuations, …

No surprises here, when volatility reared its head throughout 2018, the “safety” classes outperformed risk. That should make intuitive sense, especially when considering the S&P500s 18.7% return in 2017 (and 21.4% when including dividends). But as we all should know, it pays in the longer term to have some diversification. …