Spin Master Toys: The TSX Composite is more or less at all time highs, but there are an awful lot of Canadian companies that are not trading anywhere near their highs. Many of these companies have previously had reputations as compounders, or high quality companies, or what have you. It seems like a great time to be an investor looking for stocks to buy. Hence, this break from my seemingly indefinite hiatus.
July 15, 2024, 10:50 p.m.
AutoCanada Revisited: Hopefully you read my first post on AutoCanada, as I’m going to lean heavily on it in this one. Why? Because AutoCanada at that time (late 2020) was a turnaround story that kind of turned, and now is looking to turnaround more. In 2020, AutoCanada had a management team that had been on the job for a little over two years, enough time to clean up much of the mess from the previous management team.
April 11, 2024, 8:43 p.m.
A Discussion About FFO and AFFO: I was reading a tweet thread the other day regarding Artis REIT, and one of the replies was from a smart guy, who I know knows REITs well (he follows me after all!), questioning why Artis REIT’s FFO (funds from operations) was so different from its AFFO (adjusted funds from operations).
Nov. 4, 2023, 12:55 a.m.
Checking Back in on Knight Therapeutics: Knight Therapeutics has gone through a few narratives in its life. The stock chart does a good job of showing these changes. It started out as Jonathan Goodman’s new venture, which he hoped to build into a new and improved Paladin Labs, Paladian being the company he led from its founding to its sale to Endo Pharmaceuticals while generating a 27% annual return over 19 years.
Aug. 27, 2023, 10:53 p.m.
Knight Therapeutics Post-Mortem: As mentioned in the Jonathan Goodman post, republishing this post-mortem of my investment in Knight Therapeutics will provide additional context for my thoughts about it currently. While Knight has managed to put more capital to work, including a large deal for the rights to Exelon across all its territories (the exact kind of deal I’d been wanting), I think this post has aged fairly well. I don’t just mean because the stock is down though admittedly that helps.
Aug. 25, 2023, 6:33 p.m.
Jonathan Goodman: A Canadian Outsider CEO : Partly out of interest in the company and partly because the share price is so much lower now than when I sold the stock, I’ve been looking at Knight Therapeutics and writing a new post about it. To provide a bit of context for that post, I thought I should repost this and another old Knight post. This post about Jonathan Goodman does as good a job as anything explaining why I remain interested in Knight despite its performance. I believe you could exp
Aug. 25, 2023, 11:40 a.m.
Rai Sahi: A Canadian Outsider CEO: After this last post about Morguard Corp looking closer than ever to acquiring Morguard REIT, it seems a good time to republish this post about Rai Sahi, the founder and CEO of Morguard. Sahi has been written about before, but as far as I can tell this post of mine was the most comprehensive thing written about him aand his history. At the very least, it does a good job of compiling a lot of sources across the internet. Morguard gets little attention these days
Aug. 21, 2023, 2:19 p.m.
Is Morguard Corp Finally Taking Morguard REIT Private?: In early 2015, Morguard Corp accumulated a ~10% position in Temple Hotels, with this initial position being bought around $3.50 per share. Morguard also purchased a lot of Temple’s convertible debentures. By June 2015, Rai Sahi was on Temple’s board of directors. Throughout the rest of 2015, Temple sold assets, reduced its dividend and changed it from monthly to quarterly, and then in early 2016, Morguard took over asset management for Temp
Aug. 17, 2023, 1:55 p.m.
