Mike Arnold
Value, growth at reasonable price, long only, tech

Dream Unlimited: Still An Asymmetrical Investment Opportunity For 2014

Since I wrote my first article on Dream Unlimited [(OTC:DRUNF) (DRM.TO)] ("Dream") at the end of July 2013, I postulated that shares had some 70% upside and that the company was mispriced because it was a relatively unknown spin-off from Dundee Corporation (OTCPK:DDEJF). In addition, the company did not screen well given it didn't have 12-months of operating history on a standalone basis.

Today, shares are 35% higher from the date of the original article. I think the shares still have meaningful upside, given Dream's large and attractive asset base of land and real estate, and its growing operating businesses including, land and real estate development and higher-margin asset management services.

Going into 2014, I think...

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