To any investor clinging to the belief that markets are always perfectly efficient, I present to you Brickworks (ASX: BKW). The business sounds like a construction company and is one of only two domestic brickmakers in the country.
The share price often responds to cycles in construction, and it is mostly the domain of analysts who cover building materials stocks. Yet Brickworks isn't a building materials business.
In its latest full-year result, Brickworks reported earnings before interest and tax (EBIT) of $709 million;
