just life ticking on by. We all get up, move around, but what do we really do fifferently on a day by day, week by week, month by month, year by year basis? If you're broke, you were likely broke last week, last month and last year. If you are rich, you have likely been rich last week, last month, last year.
My point is that very few things CHANGE as much as people think. We watch the same sports games at night, the same guys who could really care less that you are watchng and wasting your precious time while they make what you make in two years of actual labor just for jogging up and down a court. Who is the sucker?
My point is that WS is pricing in as if this companies sales and earnings are 50% different than two years ago(2010). What has changed in two years? Sheepskin prices have doubled thats true but they are headed lower and the company is coming out with new products to mitigate costs and to further growth outside of footwear.
Sales are the same as two years despite costs basically doubling in two years and having to raise prices. So sales have not changed. Earnings are lower by 15% as a result of costs.
But what has really changed outside of fluctuating costs like sheepskin? Is more than 250M in cash not being produced every year since costs have started to rise? No, that isn't the problem, cash production is phenomenal.
Did UGGS not get recognized as the most searched item this past christmas(the biggest shopping season every year)? Did UGGS not produce and show its here to stay with its robust sales this winter?
C'mon people, it is a waiting game. This company is worth 10B! just for the cash production.
Hold for 5-10 years and you will make more than 5X your money. Ignore the shrot term noises and just count down with me the 1695 days till cash meets current valuation! It is pretty fun when you know it is just a matter of DAYS.