the building industry

i have just started up a long position on JBH

Details of the company and my reasons for the trade are as follows.

JAMES HADIES INDUSTRIES (JBH)
JAMES HARDIES INDUSTRIES Plc (JHX) manufactures and sells fibre cement building products for interior and exterior building construction applications, primarily in the United States, Australia, New Zealand, the Philippines and Europe. Its shares trade on the NYSE and the ASX. Head office Amsterdam.

Buy reasons – Positive
1. To take advantage of increased residential building activity in US and Aust. – although i imagine that Aust. is now only a small part of its o/a sales take.

2. its chart is in an extremely robust upward trend.

3. As the company is also listed on the NYSE its share price on the ASX will benefit from the buoyancy of the US market. in act its like putting your money into the US market and the now robust US economy but int a company that you are familiar with.

4. As the $A depreciates against other currencies profits will be higher in $A .

Negative – very high pe, for 03/2014 - 32.0 , and 2015 - 24.0 (average over 7 yrs. 19.0)
aso, I know nothing about any further claims ie . in relation to asbestos – all that seems to have died now.

i am buying this on the big picture view point – not on its current financials.
i am again probably on the middle to tail end of this companies run.

gk.