Saturday 22 September 2018 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares
DEADLINE MIDNIGHT TODAY: One more chance for Juicin to win a semi naked photo of Thirsty Paul Scott in Bulletin Board Moron of the week
The Seven Mythical Wonders (September update) – My final review of this collection of ‘never-quite-getting-there’ companies
A month ago, I wrote a piece about housebuilders generally and Crest Nicholson (CRST) specifically, which concluded with the observation: "Lower prices and lower margins...that's the way forward for housebuilders. Sell 'em all". Today's formal half year numbers from Crest fully reiterate this clear theme...
I do not think I have formally written about the housebuilders before but I know they are beloved by many investors out there citing yield, cash back to investors, an inherent shortage of housing and other attributes probably including their ability to walk on water. Any hopes of God-given capabilities have come crashing down to earth today though with an update from Crest Nicholson (CRST), shares in which have fallen another 13% to a new 12 month low. So what did it say? Here's the key excerpt from today's update:
Hello share screamers. I've had mixed encounters with brokers this week. It looks as though TD Waterhouse is handing the reins to Interactive Investor. Not sure I'm happy about that. Then I bought some stock in my ordinary trading account instead of my ISA. It took TD a heck of a long time to sort that out and a helpful chap called Cal worked efficiently and tirelessly on my behalf. Thanks Cal.
We all know that house builders have done well recently and with the government (in other words, taxpayers) providing “free money” to those who want it coupled with the nation’s obsession of owning a property showing no pace of slowing the sector should continue to show positive results going forwards.
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