Lennar Corp Class A (LEN)

[Santa Barbara Broker]

Did I say long? No I meant SHORT candidate. $12.61 is the last ledge then it's $8 bucks and change. I mean, I can understand why it declines 4% in one day. 12K temporary census workers applied for unemployment. If that isn't a 100% guarantee of a Great Depression and a new housing crash I've never heard one. A forward looking PE of 6, upward guidance, every analyst following the damn thing has either an accumulate or buy on it. The balance sheet is the best in the industry, they have cash to burn, their losses are almost entirely written down and their land portfolio is earning them a ton of money already. Their TX market is on fire...even FL is coming back where they are strongest. And people are laying out 2008 and 2009 buying and building numbers from the worst period in history as the locked down patterns for the next 20 years and trading that way. The inventory on the market right now in 2005 assuming another 300K foreclsures over the next 6 months could be absorbed in 1.2 years. And I hear idiots on CNBC saying it will be 30 maybe 50 years till the excess inventory is mopped up? Gee, did America outlaw immigration and reproduction while I was out this afternoon? Amazing. I hope Warren was right about that blood in the streets thing. And the scam garbage soars on nothing, LOL!

SBB