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Mark Kowalski

 
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  • 3 Canadian REITs That Look Promising, And 3 To Avoid [View article]
    I do not have US REITs directly in my portfolio, most of my US holdings are in ETFs and I don't often buy US companies outright. My Canadian REIT holdings are generally in the same sort of circumstance with the exception of Riocan. Second question - not sure what time frame you're talking about.
    Sep 14, 2014. 07:10 AM | Likes Like |Link to Comment
  • Apply Warren Buffett's Brand Of Drywall To Your Portfolio [View article]
    The carry forward is around $2B according to the Q2 earnings release, at the current rate, the net income of $57M for the quarter is hardly a drop in the bucket. We may have to wait a long time before this amount is used up.

    Thanks for the comment
    Mark
    Sep 14, 2014. 07:04 AM | Likes Like |Link to Comment
  • Apply Warren Buffett's Brand Of Drywall To Your Portfolio [View article]
    Thanks PD

    Mark
    Sep 14, 2014. 07:00 AM | Likes Like |Link to Comment
  • Apply Warren Buffett's Brand Of Drywall To Your Portfolio [View article]
    Thanks for the comment and the read,

    Mark
    Sep 14, 2014. 07:00 AM | Likes Like |Link to Comment
  • Apply Warren Buffett's Brand Of Drywall To Your Portfolio [View article]
    Thanks Siwanoy, my pleasure. Margins and understanding a business are generally the cornerstone of my analysis of a company. Let me know if there are any others that you are interested in that lack coverage, I am looking for some new companies to write about.

    Mark
    Sep 12, 2014. 08:25 AM | Likes Like |Link to Comment
  • 3 Canadian REITs That Look Promising, And 3 To Avoid [View article]
    Hey all, it has been about 7 months since this piece came out, just wanted to share how the picture currently looks.

    http://bit.ly/UsifiV

    I hope the link works, it compares Dundee's performance to the two funds XRE and ZRE and my three recomended REITS. Please simply select YTD on the chart.

    As you can see, Dundee has appreciated 1.75% in price while the funds have moved between 6.9 and 7.4%. The top three have appreciated between 6.4 and 12.7%.

    I'm highlighting this as the difference if far more than I was expecting, I do intend to publish another piece in the near future time permitting, but please do be carefull with your REIT investing and I do recommend staying away from Dundee for the time being.

    Mark
    Jul 25, 2014. 01:18 PM | 2 Likes Like |Link to Comment
  • Take-Two: This Videogame Company Looks Cheap [View article]
    Excellent, thanks Kevin,

    Look forward to your next articles
    Jan 17, 2014. 07:55 AM | Likes Like |Link to Comment
  • Take-Two: This Videogame Company Looks Cheap [View article]
    Awesome, thanks alot Whatsup!
    Jan 16, 2014. 05:02 PM | 1 Like Like |Link to Comment
  • Take-Two: This Videogame Company Looks Cheap [View article]
    Excellent Piece Kevin, very informative,

    Out of curiosity how did you come up with the per unit revenues of $40 per title, is this a broad estimate or did you try to calculate this for some previous titles or quarters?

    I definitely agree that TTWO is in an excellent position and I like managements committment to making each coming year profitable, but I am not sure there will be much upward momentum in the shares in the near future. GTA V was absolutely huge, so it will be a tough act for the company to follow, and I think this is what concerns investors.

    Thanks
    Mark
    Jan 16, 2014. 12:42 PM | Likes Like |Link to Comment
  • 3 Canadian REITs That Look Promising, And 3 To Avoid [View article]
    Thanks Boom, I will certainly keep it in mind
    Dec 14, 2013. 01:14 PM | Likes Like |Link to Comment
  • 3 Canadian REITs That Look Promising, And 3 To Avoid [View article]
    Thats an excellent point, thanks rdbach.

    Predicting the flow of exchange rates is well beyond my scope but it will certainly influence future returns significantly.

    On the other hand, there are something like 130 US traded REITs for US investors to choose from, so perhaps that would be a better option.
    Dec 13, 2013. 06:32 PM | Likes Like |Link to Comment
  • 3 Canadian REITs That Look Promising, And 3 To Avoid [View article]
    Interesting, do you have any info/sources to support this, IE that the rate of issues is higher than in US public companies or other countries?
    Dec 13, 2013. 06:29 PM | 1 Like Like |Link to Comment
  • 3 Canadian REITs That Look Promising, And 3 To Avoid [View article]
    ZRE is the Canadian equal weights REIT, it owns 18 Reits in relatively equal weights (they were equal when the fund started, now have changed due to price fluctuations). MER is 0.55%
    http://bit.ly/1fqn8ia

    XRE owns 2 REITs in disproportionate holdings, Riocan and H&R at 19 and 15% respectively and the balance is a variety of others with weights from 7% downwards. MER is 0.55%
    http://bit.ly/1fqnaGU
    Dec 13, 2013. 10:52 AM | Likes Like |Link to Comment
  • 3 Canadian REITs That Look Promising, And 3 To Avoid [View article]
    Also no personal bias, I haven't owned it in the past, nor do I own/plan to own it now
    Dec 13, 2013. 10:47 AM | Likes Like |Link to Comment
  • 3 Canadian REITs That Look Promising, And 3 To Avoid [View article]
    Matthew - For my purpose here, I would consider Dundee to be more risky, a 25% drop vs. the reit markets 12% is a red flag to me. Sorry if I was not very clear, and I would love to do a more detailed analysis of it at another time, but in this market with the uncertainty regarding interest rates (and more explicitly the uncertainty regarding the REIT markets reaction to interest rates) I would not recommend a stock that is underperforming to such a degree in a bear market.

    Mark
    Dec 13, 2013. 10:44 AM | Likes Like |Link to Comment
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