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2 replies to "Steel Shelter From The Storm"
Good report. As a new NC client, I’ll look to reduce my long term Steel Dynamics holdings and take a small position in CMC so I can watch it. I won’t touch Nucor. Today, when you can earn a 5% or better on risk free investments, putting new money to work in the market is a tougher sell, especially at these heights. As a steel family, I like the business, but am always cognizant of the unionization aspect. Governmental subsidization can also be misleading.
John, thanks for sharing – great to have you on board.
You’re right, with risk-free rates having moved higher, it makes sense to weigh investments a bit more cautiously. Also interesting that you pointed out unionization – labor seems to be getting the upper hand vs. capital since the pandemic.
I’m curious, what are the reasons why you won’t touch Nucor? Have a great week!