When it comes to Hurricane Harvey, there’s no shortage of “losers.”
That list includes:
- the insurance and reinsurance industry (capital cushions notwithstanding)
- Matt Drudge, who suspects the whole idea of “weather” might be fake news
- and of course, the state of Texas, which has been transformed into a scene out of the worst Kevin Costner movie ever produced
But there are also some “winners,” and those winners include the RV industry.
As Bloomberg notes, Off Wall Street has removed its sell rating on both Winnebago Industries and Thor today citing “expected positive effects on the RV industry in the wake of Hurricane Harvey.”
Specifically, the firm reminds you that “FEMA purchased 145k towable RVs to house emergency personnel and displaced citizens after Katrina.”
Well sure enough, both stocks are on the move – and “big league”:
This is a great time to remind you of what we noted back in April when some folks were surprised to learn that despite a not-so-great first read on Q1 GDP, spending on RVs came in strong:
We’ve been long RVs since day one…
There will be a lot of consequences here.
Insurance companies selling assets to pay claims.
This could be $50B.
Workers not showing up for work due to living conditions – Think Hurricane Andrew early 90’s.
HD & Lowe’s sales etc etc.
The question is to me ..How prepared are the oil & gas infrastructure to provide support for their employees so they can keep their facilities running.
This flooding is the greatest ever witnessed in this area and it is very heavily populated.
Consider that on August 15th, the orange grenade abolished a 2015 order to include flood protection because of rising sea levels. Sorry but in reflection, it was spot on.
So Havey happened last weekend, and we might see Mar A Lago needing flood protection by next week.
Don’t they know Mother Nature bats last and she can upset the table any time she damn well choses.