Word on the Street

The comments made last week by Donald Tomnitz, D.R. Horton’s CEO, seem to be on everyone’s lips:

Suck-To be disgustingly disagreeable or offensive.

Life on the Street can be very offensive. If you got sucked into the sub-prime mess you will likely agree. Those stocks really suck. Speaking of offensive, Bill Miller of the Legg Mason Value Trust (LMVTX) continues to perform in a manner consistently with a sucking sound.

Big positions in Countrywide Financial (CFC-NYSE) and Pulte Homes (PHM-NYSE) are weighing on his numbers. His performance continues to...suck. 

We still have not figured out if Bill is a value, core or growth manager. We might just be jealous that he is a go anywhere manager with a healthy coat of teflon.

Bill shows up in all three style boxes if you look hard enough...and with Google (GOOG-NASDAQ) and Yahoo! (YHOO-NASDAQ) near the top of his sheets we would have to seriously consider him at least a bit growth-y.

I actually like many of the names in his portfolio here...they have been pretty roughed up. That is why Bill is in the bottom decile year-to-date.

It might be time to kick the tires on a few of his names...Countrywide might actually benefit from the shakeout in sub-prime. It takes cojones to buy it here, but much of their competition has just been vaporized. Not for the faint of heart, however.

Check out Bill’s bargain bin when you get a chance..many of his stocks are on sale.

Big time
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The content contained represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author. Stockjockey has a position in Yahoo!.

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