1331 days ago
I have mentioned the sale of leasehold properties by housebuilders such as Barratt Developments (BDEV) before and regard their actions as utterly wrong. I am an ethical capitalist, they are profiteering. So I welcome the news that the Competition & Markets Authority is now investigating. It is not why I would not own shares in this sector but it is good news anyway. I also cover Kefi (KEFI), Vela (VELA) and the scoundrels at con Supply@ME Capital (SYME), its latest “news” and past lies.
4066 days ago
In February I published a detailed comment on housebuilder and FTSE 250 constituent Barratt Developments (BDEV), stating that a recent upbeat trading statement meant that then upcoming results should contain no nasty surprises but that for a cyclical company seemingly approaching the top of the cycle, the valuation was simply too high. Now, post the results, the following updates my view…
4068 days ago
4081 days ago
I am really sure that I got sound and vision correct today! Fingers crossed. Greetings from a freezing Islington. I remember doing the first of these video postcards from a sun drenched Greece. I rather wish I was back there now although I guess it would be a bit less sun drenched. I digress.
On the agenda
1. Global warming nutters repenteth
2. UK loses AAA credit rating what does it mean?
3. Higher interest rates and UK house prices
4. Housebuilding stocks – notably Barratt Developments
5. Bearishness on the UK economy
6. What this means for the stockmarket
7. Tips on Nifty Fifty
8. UK Investor Show – an urgent plea
9. Plans for next week
PS. If you are not already signed up for it, please do sign up to my twice weekly free newsletter the Tomograph as it contains links to all my free content plus some exclusive articles. You can do so here.
And if you are on twitter can you follow me @tomwinnifrith
4084 days ago
FTSE 250 listed, Housebuilder Barratt Developments (BDEV) issued an upbeat trading statement on 16th January covering the six months to 31st December and there is little doubt that the results out next week will contain no nasty surprises. The company has a forward order book equivalent to around four months of sales and as such there is no reason to expect any great change in trading in the second half. Yet with house prices now on a multiple of average wages seem only once before in living memory ( 2007) and with the normal catalyst for a house price correction ( a rise in interest rates) surely only a matter of time the current rating looks untenable.
