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Redrow boss plays a blinder in the still horribly distorted housing market

By Chris Bailey of Financial Orbit | Sunday 10 February 2019


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


There is an article of note in one of today's Sunday newspapers profiling Steve Morgan - the founder of the housebuilder Redrow (RDW) - who is on the cusp of retiring from the business for a second time.  You have got to applaud such entrepreneurial fervour and capability to have turned a £5,000 loan from his Father into a company today that is worth a cool £2.1 billion - and I hope he enjoys his upcoming retirement.  However the article was noteworthy for a couple of other reasons, one of which was mentioned...and one of which was not even hinted at.  
 
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