TIMBERLAND STOCKS REACH ALL-TIME HIGHS
Our “things can’t be all that bad” thesis is turning up in all kinds of places… including timber.
This year, we’ve featured many charts that display how the U.S. economy, while not great, can’t be doing all that bad.
For example, we’ve noted the tremendous share price strength in high-end homebuilder Toll Brothers, giant hotel operator Wyndham Worldwide, and giant office landlord Boston Properties.
Much of the “things can’t be all that bad” story focuses on housing.
If housing is recovering, so is the U.S. economy.
And when housing recovers, so do timberland stocks.
After all, timber is a major housing ingredient… and a recovering housing market boosts land prices across the board.
Longtime DailyWealth readers know we love the idea of buying timberland at a cheap price and owning it for a long time. (Read this interview with Steve for the full story.)
You can see that this idea is working – and that “things can’t be all that bad” – in the chart of giant U.S. timber company Rayonier.
The stock just hit an all-time high.
– Brian Hunt
Source: Market Notes
