Battle of the Building Material Makers: Owens Corning vs. USG Corp.

Here are updated thoughts on a few stocks I frequently talk about here.

First, thanks to Jeff Annello for bringing a presentation recently done by Primus
Guaranty (PRS) to my attention.<!----> I found it to be a very good
explanation of some potential sources of the mispricing in the stock,
as well as offering a good glimpse into the workings of the CDS
market.

Jeff and I have alternately argued that Primus is a
very misunderstood company because it is a tiny company operating in
the fairly esoteric field of credit default swaps. Add in some
accounting standards that make for starkly different presentations of
financials, and I believe you have a recipe for an undervalued stock . Jeff seems to feel the
same way.