New Positions: HD, C
- Both have massive market caps
- Both are in terrible and still failing sectors
- Both have strong dividends but they are at risk
- ESL is nowhere near controlling stakes
- Since peaking at $190; it has lower lows and lower highs.
- Established a 14% position in Restoration Hardware (RSTO)
- Buybacks continue
- Both stocks are suffering from sector pressures (retail)
- Both continue buybacks
- Auto part providers can act as a recession resistant sector