Beazer Homes (BZH)

Disclaimer: The views expressed here are mine and may change without notice. Past performance is not indicative of future results. All investments carry risk, including financial loss. This analysis is for educational purposes only and does not constitute investment advice or recommendations of any kind. Conduct your own research and seek professional advice before investing. Please see important disclaimers here and here.

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One area of bargain hunting I focus on is out-of-favor industries. Right now, homebuilders fall into that category due to widespread concerns about housing affordability. In this post, I highlight one such company where I believe the current market price likely understates the business's value to a private owner.

Note on Stock Writeups

Investment Process: Surface Numbers Can Deceive

In this post, I want to highlight how simple yet important aspects of investment analysis are often overlooked— leading to flawed decisions.  Let’s walk through two common examples.

The Buyback Bottleneck

Share repurchases have become so routine that when companies don’t buy back "enough" stock, the investment community often reacts with disappointment. While there are valid (and sometimes concerning) fundamental reasons for holding off, in this post, I want to highlight some non-fundamental factors that might explain a slower-than-expected buyback pace.

Investment Process: Your Edge.

The word "edge" might initially suggest something exclusive or inaccessible. On the contrary, I think an investment manager's edge could be very specific to him or her. Knowing these edges strengthens my investment process.