On a somewhat related note, I received the following from my investment advisor on the topic of whether RV-related industries had the potential to become better investments:
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We analyzed three companies that would be beneficiaries of an uptick in a higher demand for RVs post-COVID-19. These companies are Thor Industries (THO), Winnebago Industries (WGO) and Camping World Holdings (CWH). None of the three scored well in our quantitative screener. All three scored particularly poorly in Risk due to relatively high volatility and betas, each of them scoring in the bottom 10% of the 1,000+ companies we analyze within the Risk category. None of them achieved a score that put them within the top 30% in any of the five categories we analyze. Since they do not screen well and significant sustainable competitive advantages are hard to rationalize for them, they do not warrant the more intensive due diligence that would be required. While it may end up being the case that RV sales exceed current expectations, those are the not type of calls where believe we have an edge vs. the market. We would also note that all three stocks have bounced materially from their March lows and all are now trading near 52-week highs, so you are not alone (anymore) in thinking RV sales will recover quickly. Therefore, we believe it makes more sense to stick to our process and focus on companies that appear to be more attractive based on the methodology that we specialize in.
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