Has been an orphan. He has a small position. He likes the story. They got a bit ahead of themselves with the housing crash. They are not getting some traction. Seeing revenues and earnings coming up. Expects them to initiate a dividend fairly soon, over the next couple of quarters. Quite a bit of upside left in this stock.
(Top Pick Dec 27/12, Up 35.20%) He took a little of the table because it was 7% of his fund. There were a lot of US guys that shorted but they didn’t have a good understanding of this company. 10 times earnings. Not sure why it is less than the banks. Earnings are growing so you are going to get a higher stock price.
Markets. People were looking for a reason for the market to continue because it had been strong. They are moving into the large cap because of more liquidity. Then it is trickling down the small caps. After a big run up like we have had it could be volatile over the next year. Watch that your picks don’t have a big PE. He is bottom up and finds there is good value is some technology companies. Dollar came down and so some lumber companies moved up.