High Quality
Open the downloaded document, and select print from the file menu (PDF reader required).
Portfolio Holding Re-Evaluation:USG
February 16thJames CullenPortfolio Manager Boston College Investment Club
Once Upon a Time…
•I Wasn’t Always So Negative•USG Was One of Those Times•Leading Building Products Company
–Sheetrock (Wallboard) –Ceilings –Distribution
The Problem(s)
•In Hindsight, Purchased Way Too Soon•Building Products Market is Awful
–Demand Extremely Low –Capacity Overbuilt
•Duration of Decline
Liquidity Issue•Massively Dilutive Financing
Add a Comment