I like your assessment. Buy commodities when the PE is high... makes sense... but the PE for NHC has been high for a while and it just went much higher this last week, so at this stage of the cycle I see NHC treading water and drifting backwards while capital moves towards the lower PE stocks, hence I'm short on this trade... pairing it with YAL. Don't worry, the cycle will provide enough time for us to pontificate about how a PE of 8 is the new 3... and then 21 will be a new paradigm... because this super cycle is different. I look forward to us baffling each other with buffettology and all sorts of idiom.
NHC Price at posting:
$4.47 Sentiment: Sell Disclosure: Held
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