Here's a thought:
1. US building/housing growth is in decline
2. Hurricane recovery in US overstated
3. Rising A$ will reduce US$ earnings
4. Rising i will increase costs
5. Aust building is in decline
* Perhaps earnings for RIN is falling and market is adjusting price.
* Perhaps EPS will fall, thus pushing up P/E, making RIN not that cheap.
While I agree RIN has been slaughtered lately on SP, just maybe the market is repricing it correctly (and maybe people should accept that the SP of $12-$15 is where it should be and adjust their expectations).
Just a thought.
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