Magic Markets #151: Balwin, Calgro M3 and D.R Horton

Welcome to episode 151 of Magic Markets! This week, we’ve got property on our minds – buying it, renting it and even building it from the ground up. While Ghost is bringing homegrown insights from locally listed property investors Balwin (primary focus) and Calgro M3 (additional commentary), Moe is discussing DR Horton (no relation to Dr. Seuss), a home construction company headquartered in Arlington, Texas.

Brought to you by our sponsors B2IT, this is an important episode not only for those who are thinking of investing in property companies, but also for those who are thinking of investing in property itself.

We covered the following questions and more:

• Year-to-date, DR Horton is up far more than you might guess, despite this inflationary environment. What does this performance teach us about combining macro analysis with a view from the bottom up?
• Despite the fact that Ghost is discussing a company in the property sector, he has a lot to say about public transportation and vehicle finance. What would the connection between those two things be?
• Why is Balwin, which targets an upper-to-mid LSM, lagging behind Calgro M3 and its lower income consumers?
• Why is America dealing with a chronic housing shortage, and how does that affect a homebuilding company like DR Horton?

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