Narrower Loss for Toll Brothers
Good news! Toll Brothers only lost $78.8 million this quarter, or 49 cents a share. Well, maybe not good news, but better than the $81.8 million, or 52 cents a share, last year at this time, reports the WSJ. Except there’s this: the company took “more large write-downs and sales plunged again amid the housing-market…
Good news! Toll Brothers only lost $78.8 million this quarter, or 49 cents a share. Well, maybe not good news, but better than the $81.8 million, or 52 cents a share, last year at this time, reports the WSJ. Except there’s this: the company took “more large write-downs and sales plunged again amid the housing-market slump.”
Photo by i’mjustsayin.
And yet the stock is + (YES, UP) 3% year-to-date vs the S&P 500 -42%.
A clear example of media headline reporting completely out of synch with other aspects of reality and a great example of fear mongering.
Full disclosure: We here at the MAB hedge fund own Toll Brothers stock.
I’m going to register a new name for another hedge fund. Yep, you guessed it: MAB Capital Partners, LLC
“This is not an offering. No offering can be made until an offering plan is filed with the Department of Law of the State of New York.”