I've never owned REH but acknowledge it's probably in the top 1-2% of ASX-listed businesses in terms of business pedigree, so i only keep an intermittent eye on it.
I suppose REH's owner/managers are looking at the next 10-20 years rather than the next 1-2 years, which is a big part of the reason why they've been as successful as they have for decades. That said, my gut reaction was this acquisition has very real risk of making them look a little imprudent in the near-term (1-3 years).
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