USG Corporation (USG) Reports 2011 Fourth Quarter and Full Year Results

Yet Another Quarterly Loss:

The corporation’s adjusted operating loss was $37 million in the fourth quarter of 2011, which compares to an adjusted operating loss of $39 million in the fourth quarter of 2010.

No position.

I think the wallboard industry is a joke, but the housing bulls have convinced themselves that the market is recovering (same as every year since 2007), and I do not want to stand in their way.