RE:RE:L2's showing $1.70 (again). $700+ lumber (again). $7/share??Good to see you! Small world. There's some really sharp commentary on this board, too.
When did you get into this one?
The 2018 lumber rise (a precursor to what we're seeing now, but premature) and fall (rising interest rates and BC supply overhang) really killed CFF's swing-for-the-fences expansion. The strategy of making a big splash almost worked -- if elevated pricing had just hung on for another 6 months we'd be in a whole different situation. The $6 price needed to fall, but certainly not down to this level. In my case, I was a less capable trader back then so I rode it down and realized all my CFF losses when Covid hit. Then I made it all back and then some, and am back in this name again.
It seems like the pool of opportunity to hit outsized returns on value stocks keeps shrinking, so I've upsized this position. It's a small world, as I'd like RYAM in the post-Temebc world at $17, but didn't stick around any lower than $16 thankfully on it's unceremonious trip to $2. But I tripped over some luck buying this summer really cheap and it's since taken off to the degree where I'm not adding more (plus the rising $CAD is bad news). I suspect Resolute is next given pulps rising fortunes. That leaves CFF and Western Forest as the deepest value plays out there, but CFF has the greater upside I think.