Spiking the Housing Stock Football Before Crossing the Goal Line Represents Somewhat Irrational Exuberance

The stock market “knows”:  housing is back.  The old rule of thumb about housing stocks was that they should be bought at or below book value in a downturn and sold at twice book after a boom.  Of course, when they peaked way back in summer 2005, some were at triple book.  Citigroup’s housewares analyst [...]

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