RE:Brian Madden - Don't BuyLumber stocks have high betas and will move disproportionally on headlines, but thats a mispricing opportunity in my opinion.
IFP's current price to book is 0.55.
However, they have about $12.90 per share in U.S. Lumber Duties on deposit though.
If they recover that at 55%, that's $7.10 per share.
Deducting $7.10 from the share price of $22.55 means it's really trading at 0.37 price to book.
Historically buying lumber stocks below book value made money in the long term.
Lumber companies (IFP, WFG, CFP, even WEF and LPX) have never had stronger balance sheets.
IFP's executives will buy in January. Even that ultra biking freak Ian Filinger will buy in January. I'd follow their lead.