I'm comforted by a few things: I think we're about 60% exposed...

I'm comforted by a few things:

I think we're about 60% exposed to residential, yet we're still profitable and paying dividends-- just on the back of our corporate and government construction exposure. We're a chance of being taken over (Bunnings or private equity). Low debt. National network. And there's literally a choice between people living in tents on the streets or the government doing something (whatever 'something' means!) to fix the residential supply issue. So, things will improve. There's too much political imperative for more supply to come online. Interest rates seem to have peaked. Big River is 100 years old and they have seen good and bad markets.

Perhaps the federal government will literally offer a bonus payment to state and local governments for each house approval, and open "tradesmen only" priority, fast tracked visas. I read that NSW yesterday approved 6 story buildings in a certain area. SA and WA are going gangbusters.

BRI is literally a case (for me) of buying, and continuing to buy a cyclical stocks at the worst part of the cycle. Knowing that a turnaround in residential construction is inevitable. A straw hats in Winter approach. BRI is about 1.5% of my portfolio. My average price is $1.97. I am happy to modestly chase this at lower levels while it's out of favour; this won't always be the case.

Gee, the price graph looks ugly though. I can understand why, short term, nobody wants it. Medium term, I am very happy to be a part owner of this company. Although I do wonder how much downside is priced in and when the market will finish doing this 'pricing in'! A few director purchases would be nice too.