Mike Arnold
Long only, small-cap, tech, growth at reasonable price

Dundee REIT: A Cheap Canadian Real Estate Play

It has been a lousy year for the Canadian stock market. Being levered to commodities and, in particular, metals, has put a drag on the broader Canadian equity market. Due to the languishing prices north of the border, I view Canada as a particularly good place to go bargain hunting these days.

Shares of Dundee REIT [(OTC:DRETF) (D-UN.TO)] ("Dundee" or "the company) are offering investors a compelling asymmetric risk/reward scenario after a steep price correction starting in May 2013. With investors allowing central bank policy to dictate capital allocation decisions rather than underlying fundamentals with respect to income-generating investments, contrarian investors are able to pick up a well-managed firm with attractive real estate assets at a discount.


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