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Mar 12, 2006 6:07 pm

Several months ago I said short home builders despite what the pundits for the Wall Street firms were saying.  When they tell you to buy this junk all they want is more opportunty to unload their shares on your clients.  So what has happened.  Home builders have tanked.  Idiot Kramer and others are still telling you to buy them.  I urge you to not buy home builders or subprime lenders.  There is going to be a big problem soon.  Just watch.  These banks are going to blow up because mortgage holders who should never have gotten a loan are going to start to default in ever increasing numbers and the home builders are going to continue to fall in price. Short them on upswings and just be patient.     

Mar 12, 2006 6:21 pm

Good call.

To further your point, I unloaded remaining shares of LOW and HD. I, as you

do, believe that since cash out refis have peaked, consumers won’t be

inclined to spend as much on re-modeling. Then both companies reported

better than expected earnings. Was I wrong?

Unemployment remains very low, in fact, wages are increasing. Sales of

plasma/LCD TVs are up over 50%, Starbucks is always full and hotel rooms

are difficult to get. So what gives?