Strictly18 Dec 2017 09:07
You are probably very successful in your home builder focussed investment strategy,switching between them from time to time.Until I retired,my business partner and I had a trade subcontractor business operating in the construction industry and traded with most of the companies you are interested in.The business was established in 1974 ( it is still going !) so we got to know the senior managers of those companies quite wellover time and formed our own opinion of their relative merits.Our experiences never once highlighted an obvious candidate for equity investment.Telford homes,with whom we did not trade,came to my attention in 2006 and I had the opportunity to speak to the then CEO and Sales Director one day and it was like a light bulb being switched on,it was a revelation.Following extensive research,my business partner and I embarked on a lengthy period of share acquisition,investing what we could,when we could afford to.Since then,the company has lived up to our expectaions with bells on and never disappointed us once.With due diligence,it is possible to know what is happening operationally within TEF to an extent that is very difficult elsewhere.So whilst it is fun to watch you you leaping in and out of bed with TEF peers and doing very well by doing that,I wont be joining you,because I don't understand their operational ( not talking about financial) activities to anywhere near the same extent.You may well achieve a better financial return with your system and lets face it there are hundreds of quoted businesses that will financially out perform home builders going forward and good luck to you.I am staying put until the business disappoints operationally.
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