Implied Value

Morguard: Two REITs For The Price Of One

It's not often to find a company that has a great business, is run by great management AND trades at meaningful discount to its intrinsic value. You know, the things that Buffett looks for. Morguard, however, is one such opportunity. Not only does it tick off each point, the reasons for its undervaluation have nothing to do with economics of the underlying business.

Morguard Corporation is...

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