I think we're in the middle of this painful period and we're just going to churn around for a while.

From a valuation standpoint, this is one of my favorites at the moment. I think they have changed around a lot of the internal issues, ... It's not that I think they're all the way there, but I think they know what they have to do. The stock is relatively reasonably valued historically and it's a great way to have exposure to all parts of an improving market.

Churn is at a record low.

It had been the black sheep of the household products companies for several years now, ... But they've really worked hard to get their cost structure in shape and get inventory under control, and they'd be a great beneficiary of a weakening dollar, which is what we've slowly been seeing here.

We thought the TCC was a natural location

Speaker
for the Dead made me want to be a writer.