Today, as we complete our second week of publishing Hybrid Vigor, we bring you an overview of the homebuilding industry, a critical issuer of convertibles in recent years. Naturally, we include comments on several bonds in the group. We explain why we think recent data-related weakness, including this morning's, provides a good entry point for a sector we like for the longer term.
For those of you unfamiliar with Section 871(m) of the Jobs Act, we recommend you focus on the brief opening piece in today’s edition. This pending regulation has troubling implications for convertibles. We’ve been involved in conversations between the Street and Washington this year and look forward to being a useful resource for both parties.
We continue to be gratified by the response to Hybrid Vigor. Please keep your comments and suggestions coming and spread the word.
Thanks again for your interest and support!
Co-Founder and Managing Principal
Hillside Advisors LLC