RE:A big US funds shareholders of IFP
Just watchted this guy too. He was well-spoken. He made the case that lumber is a levered bet on US housing, which I totally agree with.
He noted that US housing bulls haven't even thought about lumber yet and he's right. It's tough though when you have home builders trading at 4x earnings.
I'd add that lumber is also a bet on dwindling supply and producer discipline.
Anyway, it's nice to see this board come to life and $7 earnings would be great. I'm looking now at that $3.94 Q2 estimate and thinking that's gotta be too low with lumber still holding at $1000. Those forecasts are on around $750-800 for the quarter. We're one-third of the way there now.
It's also notable that in the last two weeks, lumber/housing trades have held up much better than the broader market. So there are strong hands out there.