Lennar: value in the cycle


Use the podcast player below to listen to our discussion on Lennar and its Q3’22 result, which accompanies the detailed write-up below: (Date of report: 29 September 2022) Rates are higher. The world is scared. A recession is on everyone’s mind. Yet, here we are, looking at a company that builds homes in the US. Is this a suicide mission? Or, is the market just too pessimistic? It may not be obvious at first blush, but there are reasons to believe that Lennar might be interesting at these levels. It’s even more interesting with a bit of patience. Elevator pitch Homebuilding: [...]