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

Melcor Developments Is Worth A Look

Readers of mine might be wondering why I am spending so much time trolling for investment ideas north of the border. In my mind, Canada is ripe with investment opportunities because (1) valuations are generally less demanding than in the US and (2) there are many well-run enterprises to evaluate. To that end, I've been spending a lot of time in the land and real estate development sector, keeping in mind the current macroeconomic back drop which suggests the Canadian residential real estate market is very effervescent (aka, overvalued).

Melcor Developments Ltd [(OTC:MODVF) (MRD.TO)] ("Melcor" or "the company") is a small ~$615 million market capitalization, family run, real estate developer and land owner in Canada. It trades lightly...

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