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

Dundee Corporation Still Trades At A Wide Discount To NAV

Readers of mine know that I have a particular affinity for any Dundee related investment fare. Ned Goodman is an acclaimed value investor in Canada, and leads Dundee Corporation (OTCPK:DDEJF) ("Dundee"), an under-the-radar investment holding company based in Toronto. At the current price, I would eat Dundee for breakfast, lunch and dinner.

The reason to like and to follow Dundee is because they are very shareholder friendly. While financial disclosures are minimal, if Mr. Goodman believes the market underappreciates certain of Dundee's underlying assets/businesses, he is willing to take action to alleviate the mispricing.

One such recent example occurred in May 2013 when Dundee spun out a 50% share of Dream Unlimited (OTC:DRUNF) ("Dream"), which has...

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