We should thank God often for the growing use of the term, “fake news.” Obviously, not all news is fake. Some reports are accurate, but others are less so. The reports below are examples of sources that generate purportedly pseudo reports on manufactured housing investing and other news. There is more than enough fake news that it may require a level of expertise to discern what is real from what is fake. paltering, spin, etc.. On a Black Friday when manufactured housing connected equities were mixed and the broader markets were down at the closing bell, Manufactured Home Pro News (MHProNews) looks at a specific report about two publicly traded HUD Code manufactured home producers that is a mix of fake news along with some other items that merit a closer look.
Regular readers please note there are a few tweaks to some of the standard portions of our evening market/investing report. Read carefully as some changes of the ‘standard text’ that follows before our left-right headlines and also in other features near the end of tonight’s reports.
Every evening our headlines that follow provide snapshots from two major media outlets on each side of the left-right news spectrum that reflect topics that influence or move investor sentiment. In moments on this business evening report, you can get ‘insights-at-a-glance.’
This report also sets the broader context for manufactured housing markets, in keeping with our mantra, “News through the lens of manufactured homes and factory-built housing” ©.
We begin with headlines left-of-center CNN followed by right-of-center Fox Business. We share closing tickers and other related data courtesy of Yahoo Finance, and more. 5 to 10 minutes reading this MHProNews market report every business night could save you 30 minutes to an hour of similar reading or fact-gathering elsewhere.
Perhaps more important, you will get insights about the industry from experts that care, but also dare to challenge the routine narrative that arguably keeps manufactured housing underperforming during an affordable housing crisis.
Headlines from left-of-center CNN Business.
- A holiday record – Black Friday shoppers crowd the aisles at Brass Pro Shops at Patriot Place in Foxboro, Mass. Friday, November 29, 2019. Black Friday once again kicks off the start of the holiday shopping season. But with six fewer days than last year, it will be the shortest season since 2013 because
- Thanksgiving fell on the fourth Thursday in November, the latest possible date it could be.
- Here’s how much money shoppers have spent on Black Friday so far
- For the next 26 days, retailers will be after your wallet
- Pop singer Sia surprises Thanksgiving shoppers
- How malls with dead stores are finding new tenants
- PERSPECTIVES Why the trade war won’t hurt Black Friday sales
- Why Millennials are buying more Christmas trees than ever
- America’s stock market is shrinking. NYSE has a plan for that
- India’s economic growth rate has halved in just three years
- ‘Frozen 2’ could break even more box office records for Disney this weekend
- South Korea didn’t buy any beer from Japan last month
- This flying saucer is one man’s vacation home
- PERSPECTIVES Why Tesla’s new Cybertruck could be a hit
- The RealReal CEO stands up for the company’s authentication policy
- Workers check a Mercedes-Benz E-Class automobile after painting on the production line at the Daimler AG luxury automobile plant in Moscow, Russia, on Friday, April 19, 2019.
- The car industry’s electric upheaval claims another 10,000 jobs
- Philanthropist Warren Buffett is seen in Septembeer 2017 in New York City.
- Warren Buffett reportedly loses a big takeover battle
- Toys ‘R’ Us is back with its first new store in the US
- C. Moore is closing all of its stores
- Brick and mortar stores are hurting many retailers, but Nordstrom is pushing them as key to the company’s future
- Victoria’s Secret is canceling its fashion show
- Walmart is doubling down on China with 500 new stores
- AROUND THE WORLD – Singapore just used its fake news law. Critics say it’s just what they feared
- Twitter boss Jack Dorsey says he’s going to live in Africa
- How a bank for the forgotten made its investors really rich
- Apple slammed by Ukraine for marking Crimea as part of Russia
- Alibaba has gained nearly 14% since its Hong Kong debut
Headlines from right-of-center Fox Business.
- NFL suspends Arizona Cardinals player for betting on games
- Defensive back Josh Shaw accused of violating policy meant to preserve game’s integrity, commissioner says.
- Mercedes-Benz owner slashes 10,000 jobs in budget-conscious overhaul
- Secret mission moves billions in gold from London to Poland
- Brutal storm disrupts Thanksgiving revelers’ return home
- How to put yourself on a path toward wealthy retirement
- Stocks notch best month since June
- New Major League Baseball rule puts private equity in scoring position
- Former presidential candidate ripped into Homeland Security chief at bar
- Resorts under pressure to change name after CEO sex misconduct claims
- Shoppers drop over $4 billion in online sales on Thanksgiving Day
- Traders fired, placed on leave for allegedly trying to conceal massive loss
- COSTLY ‘COVER-UP’ – Traders fired, placed on leave for allegedly trying to conceal massive loss
- GLOOMY FOR BLOOMY? – 2020 CAMPAIGN – Disturbing claims may come back to haunt Bloomberg’s White House bid
- The 10 richest towns in America
- AOC slams Buttigieg over ad criticizing tuition-free college: ‘This is a GOP talking point’
- Alexandria Ocasio-Cortez endorsed Sen. Bernie Sanders for president last month.
- These Catholic schools have 250,000 reasons to be thankful due to one hedge fund manager
- Charles Schwab, TD Ameritrade stuck with massive bill if $26 billion deal fails
- Thousands of Texas residents return home after massive chemical plant fire
- Mexico, Canada trade officials to meet for USMCA negotiations
- Leadership professor: How managers can be both humble and ambitious
- WORLD – London Bridge attack suspect shot dead by police after stabbing: report
- How you can best explain your values to customers
- Dallas Cowboys owner Jerry Jones’ feathers ruffled, leaves game after Bills smothering
- Buffett’s Berkshire misses out on $5 billion acquisition
- Border Patrol seizes thousands of fake IDs from China
- How millennials and aging boomers are changing the mall scene
- MODERN ATHLETES: How video gamers are raking in millions
- SEE PICS: Millennial couple travels US in converted bus after paying off debt
- Thai court fines Philip Morris $39.7 million for tax evasion
- HEIR-RAISING FUNDS: America’s richest families — and how much they’re worth
- Huawei preparing lawsuit against FCC after US subsidy ban
- Inside America’s most expensive restaurants
- Hunter Biden hired because of his name, Burisma board member admits
- Tight job market buoying slowing economy — and maybe Trump, too
- Real estate tycoon’s company files for bankruptcy
- Target rolling out Cyber Monday deals early
- Iraq’s prime minister announces resignation after dozens killed amid worsening crisis
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus – Where Business, Politics, and Investing Meet
Starting with the opening sentence, a report by ‘financial news’ outlets began their report yesterday with the following line.
|Legacy Housing (NASDAQ:LEGH) and Deer Valley (OTCMKTS:DVLY) are both finance companies, but which is the better investment?|
As Manufactured Home Pro News (MHProNews) noted in an earlier report today, there are certain ‘tells’ or clues that we look for that once understood help us flag a report as something less than accurate. We’ll unpack a specific example of that in the report that follows.
Legacy and Deer Valley are both factory-built housing companies. The two firms build homes to the federally regulated standards for HUD code for manufactured homes. But they also can build to other standards, modular or otherwise. While each firm to various degrees are involved in ‘financing,’ to say that they are “finance companies” misses the mark.
That phrase is one of several signals that some of their news is arguably ‘fake news.’
As noted, early today, we did a report on another example of fake news that targets those researching the manufactured home industry. One problem is there are numbers of such operations.
That report and this one should be considered as complimentary bookends.
Not unlike companies claiming they are selling research reports on manufactured housing often written overseas by people who have never stepped foot in a HUD Code manufactured home or North American modular home, some ‘financial news’ are a blend of accurate and misleading information. They have a business model we won’t delve into today, beyond noting that sometimes such reports are written using crude forms of AI that gathers information without discernment.
Because the information gathered – be it manually done by humans and/or harvested by ‘bots’ – is done by those who have little or no real knowledge of the industry, it is by definition problematic.
Manufactured housing is an amazing but misunderstood industry. That misunderstanding often begins because of the volume of fake news.
The report that follows is a composite from Mitchell Messenger and/or Darby News “services.” We won’t bother fisking it line by line. This one is more evident than several such ‘reports’ for reasons noted.
First their ‘fake news research,’ then our thumbnail analysis.
While this example is more evident of what we’ve stated in our preface above, good luck with others sorting out what is real from what is fake, unless you go to the source material and/or you have someone like us do some sifting of wheat from chaff by doing the necessary fact-checks.
It will raise the ire of some that we will say what follows. While these ‘fake news’ sources are more obvious, don’t forget that even mainstream news sources may be quoting information that relies on the Manufactured Housing Institute (MHI) and/or their members that have upon careful scrutiny often proven to be problematic. See some related reports for sobering examples.
Manufactured housing is a fine – potentially superior – opportunity. But it is underperforming. Why?
- Why did Cavco Industries get into such hot water with the Securities and Exchanges Commission (SEC) just over a year ago?
- Why has Cavco (CVCO) spent millions trying to defend against self-inflicted and arguably avoidable problems?
- Why has Cavco leadership ducked several inquiries from us as the largest and best informed industry news source?
We don’t claim to be expert on every nuance of the law, etc. But unlike the bulk of mainstream media, no matter how well intended, they have little or no firsthand experience in manufactured housing. We have combined decades of experience.
The reason that MHI and others in the Omaha-Knoxville-Arlington axis and their allies hate us is in part because they know that they’ve praised us for doing what we they now hate; namely, follow the evidence through expert eyes.
We like to yank MHI’s outgoing president’s Dick Jennison’s nose from time-to-time with this video clip.
But arguably the more important video clip of Jennison is the one below.
That 18 seconds was one of the clues that began to raise our publisher’s concerns about what MHI was actually up to vs. what they claimed to be doing ‘for the industry.’ What president of a national trade association argues for slow growth when the opportunity for robust, sustainable growth is so strong?
That episode was and remains disgrace to MHI, doesn’t it?
The full length version of the first Jennison video above includes his amending his flub in the second video. MHProNews’ publisher gave him that opportunity to correct the record. Jennison said on camera that the industry could be doing 500,000 new HUD Code manufactured homes annually, not under 100,000. Which begs the question, if so, why is the industry still under 100,000 new units a year, and down year-over-year from the prior year?
It’s a disgrace, isn’t it?
We know from MHI insiders that Jennison’s face literally turns red when confronted with some difficult or embarrassing fact. That’s a pretty big tell for someone trying to cover for others. No wonder Lesli Gooch and Mark Bowersox were being advanced by MHI’s powers-that-be while he was being pushed into the background, and as Jennison is now “retiring?”
There is more fake news than just by these overseas sources reported today. Sadly, some of it is inside the industry and is problematic for untold numbers or professionals, investors, affordable housing seekers, and others.
See the related reports below.
Manufactured Housing Industry Investments Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
MHProNews. MHProNews – previously a.k.a. MHMSM.com – has now celebrated our tenth anniversary.
Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
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Disclosure. MHProNews holds no positions in the stocks in this report.
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Submitted by Soheyla Kovach, co-managing member of LifeStyle Factory Homes, LLC and co-founder for MHProNews.com, and MHLivingNews.com.
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