Fleetwood going for a song

The company's key asset is generating lower profit and this is unlikely to change. But low expectations are now reflected in the share price.

Extrapolation is among the most dangerous tendencies investors must conquer. Like most dangers, there is an element of attraction. It’s completely rational to expect tomorrow to resemble today, but taken to its extreme that would mean nothing ever changed. As we know, that’s not the case.

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