Good morning!

Several readers flagged up that a quote from a French Govt Minister in yesterday's report was not current, but 3 years old. I've not had time to go back & check yet, but assume you're correct, so my apologies for not checking the source more carefully. That's the trouble when you rely too much on Twitter, I suppose, and are in a rush. The occasional cock-up will inevitably slip through the net, so again apologies, and thanks for flagging my mistake.

I'm avidly reading trading updates from large caps, as well as small caps right now, as it's essential to get an idea asap about how businesses in various sectors are being affected by the current economic uncertainty.


As mentioned yesterday, the housing sector in particular interests me, because I think there could be some good buying opportunities there. I am firmly of the view that the residential housing market continues to have very favourable characteristics - shortage of supply over demand, very cheap mortgage financing, and considerable support from Govt schemes such as Help to Buy.

Thank you to the reader who flagged up comments yesterday from Inland Homes (LON:INL) which are reassuring, as it is one of the few companies which has said something specific about market conditions since the Referendum vote - as opposed to the cop out of too early to judge which is being trotted out by most companies;

"In the two weeks since the Referendum vote, we have continued to see the same level of appetite from potential purchasers for our homes, which are at the more affordable end of the housing spectrum and are supported by strong fundamentals such as the current low interest rates and the Help to Buy scheme. While we are vigilant to the wider market landscape, we will continue to seek opportunities that meet our strategic objectives

So that confirms my inkling that demand for affordable new housing should remain strong, and hence shares in housebuilders outside London could be a nice place to do some discount shopping right now.

I note that the same reader left a caustic post-script to his comment, saying that facts speak louder than opinions! Whilst that is of course true, I retort that nobody can invest in the current market without an opinion on where the economy is going. The facts will then subsequently either prove or disprove our opinions.

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