My long term top pick is JOE - St. Joe Corp. - residential real estate in Florida.
https://finviz.com/quote.ashx?t=JOE&ty=c&ta=0&p=w
They have lots of nice lots (for building houses) for sale (plus many other income streams, check it out) at the time, when a lot of residents are fleeing NY (around 1M so far), California... and are moving into Texas, Florida... Those lots JOE own, should be selling like cup cakes
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Basically, it is play on economical situation (mass migration) and on inflation, if you believe it is coming.
It is trading at single digit forward FCF multiple and at roughly 1/2 of NAV...
When they start cashing in properties, why couldn't they trade at multiple NAV in 2-3 years from now?
Chart is currently in parabola and these like to correct fast and hard - so watch out, I wouldn't be buying here.
Unfortunately I don't have full position, since it went straight up, after I bought it and my: "will buy more at lower prices" didn't work out. At end of December correction started, and my plan was to add to my position bellow 35. Today's action shatters this plan.
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But looking at weekly chart, this is still parabola and I'm hoping for some stronger pull back to add more at some point. As my top pick, I would like to have more of it, but I hate to buy it at the top of parabola. Usually, it is not a good idea.
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