Ok... Here is a question.... What happened to HT stock price in the last recession?
Answer: The stock went down to the $1+ range.
This was due to the fact that the market as a whole was oversold irrespective of the cash flow merits of the company. So several good companies were selling at huge discounts to their DCF value (even after huge haircuts for projected future cash flows). My models based on HT's projected cash flows implied stock price to be at least $3.80 when it was selling at $1+. So I bought (what was for me) some large positions in it. I got out at various points over the last year. Now, I believe we are going to see a repeat of the same thing. Selling on fear through out the market implies painting all stocks with the same brush.... totally unjustified I know... but you cannot stand pat in the face of a wall of water. This stock will fall some more to the $3+ range... at which time, it will be a huge bargain. I stand waiting for the market to over-react and sell off some more so that I can buy.