LBM guys take Wall Street
For stock market advice, I always turn to my dad. He's not a stockbroker. But he has watched almost every episode of "Wall Street Week" since the mid-1970s. Now that he's retired, he sometimes watches the same episode of "Mad Money" twice in the same day. (The hands-down superiority of Louis Rukeyser over Jim Cramer will be discussed in a future editorial.)
Here's what my dad said about newly public Boise Cascade: "I like companies with tangible products — like building materials."
Take that, Facebook! And chalk one up for old-fashioned building materials distribution.
Boise Cascade's initial public offering was a shining success. Just look at the numbers.
Last month, the Boise, Idaho-based building material manufacturer and distributor offered shares of BCC on the New York Stock Exchange for $21 per share. They shot up 24.5% on the first day, and they've risen almost every day since, reaching a high of $34.54.
Facebook, as you remember, launched its own IPO back in May 2012. How did it go? Not very well. In fact, a trading curb kicked in to break the fall of the stock price. Lawsuits and finger pointing continue to this day, as the stoc