Still Long Lowes

I remain long Lowe's and short Home Depot based on the fact that on a forward price to free cash flow basis Lowe's is 30% cheaper. In the past two days both Bill Ackman and Barry Sternlicht revealed that they are long Lowe's at investment conferences. These are not the first value investors I have heard about that are buying into Lowe's. Both Lowe's and Home Depot report earnings next week.

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