Exciting future for REH, page-4

Madamswer,

The thing I like about REH is how little thinking/analysing that I have to do when it releases their reports. After updating a few numbers in my excel file and reading one page paragraph of the report, I can close the file until the next report comes in 6 months time.

I once saw an old lady in her 70s if not 80s, attending REH's AGM. I can only imagine how long she has owned REH. The return of her portfolio probably beats most of us.

With this kind of shareholder base, no wonder the stock is very illiquid, nobody wants to sell!

Tradelink, the main competitor, is now part of an even bigger group, Fletcher Building. I don't think Fletcher's board will give Tradelink the kind of support, focus and capital that the Wilsons give to Reece.

Masters is currently unlikely to give Reece any trouble soon.

Bunnings is very strong but I once heard the Chairman mentioned during AGM that REH and Bunnings' target market is not quite the same.

The Actrol acquisition will give REH plenty of room for growth. I am still quite excited about what they will be to achieve in the next few years. In the mean time, I will keep topping up in any price weaknesses.