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The Misfits: Patrick Industries (PATK)
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The Misfits: Patrick Industries (PATK)

A market-beating leisure product manufacturer that has likely produced both large gains and epic losses for investors over the past 30 years.

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Misfit Alpha
Jan 27, 2024
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The Misfits: Patrick Industries (PATK)
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Boat Builder, John George Brown, 1904, oil on canvas (Cleveland Museum of Art)

Every once in a while, I come across companies where I simultaneously hold conflicting opinions about it. In some perverse way, it makes them that much more fascinating. Patrick Industries (NASDAQ: PATK) ranks as one of those companies where I can appreciate it and hate it in the same breath. It is the Kombucha girl meme of companies.

I can’t deny the incredible returns Patrick Industries has generated for its shareholders over the years. Still, the possibility of another decline should scare the pants off investors, especially after such an incredible run coming out of the Great Recession. 

Let’s dig into why this unique manufacturing company is so dependent on consumer spending (and consumer sentiment), how Patrick has turned its unique position in the market into a long-term wealth creator despite its challenges, and what to think of the company today. 


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