Jamie Dlugosch
Jamie Dlugosch is the founder and editor of the top-rated The Rational Investor. He has over 20 years of experience in financial markets including investment banking, equity analysis and research and money management.
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Top 10 Stocks for 2009April 9, 2009 By Jamie Dlugosch, Editor, InvestorPlace |
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Stock #2: Pulte Homes (PHM)
At the epicenter of the financial crisis and economic collapse, the homebuilding sector made for a great contrarian play for 2009. With so many failed calls for a bottom, I expected positive things for the company this year. I have not been disappointed.
Shares of Pulte Homes (PHM) finished the quarter exactly where the year started making the homebuilding sector one of the strongest groups in the market. This week, PHM announced a premium acquisition of fellow builder, Centex (CTX). As a result of the deal, shares of PHM fell by more than 10%.
I would use this opportunity to buy. Inventories of homes for sale are dropping, prices are stabilizing and demand for new construction is only growing. These ingredients bode well for PHM for the rest of 2009.
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