Slate Office REIT. In survival mode

And there is a chance it won’t survive.

This kind of roller coaster has happened to me before.
I lost around 90% with Vermillion Energy stock during COVID times, but I kept holding and averaging down at the bottom and then sold it for a nice 110% profit.
Unfrotunately, Slate Office REIT (TSX:SOT.UN) is a different story.
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Indigo, what’s in the books?

I’m getting better and better with the titles for my posts, eh? 😀
Indigo Books & Music Inc. (TSX:IDG)
All values are in CAD unless noted otherwise.
The old-new CEO was replaced by the new-old CEO, Heather Reisman.
The stock price shot higher, and I have covered my virtual short position.
Continue reading “Indigo, what’s in the books?”

NorthWest Healthcare Properties REIT, still a short opportunity?

NorthWest Healthcare Properties REIT logo

Founded in 2004 and publicly traded since 2010, Northwest (TSX: NWH.UN) is a global real estate investor and asset manager focused on properties and partnerships at the intersection of healthcare, knowledge, and research. We’re a real estate investment trust with more than $10B of assets under management, owning and operating a portfolio of more than 230 high-quality properties across Canada, the United States, Brazil, Germany, the Netherlands, the United Kingdom, Australia, and New Zealand.

Source: NWH.UN About page
Continue reading “NorthWest Healthcare Properties REIT, still a short opportunity?”

The Triple Action of Interest Rates

As the saying goes: Don’t Fight the Fed.

Here is my rather naive understanding of how Interest Rates influence equity markets and why I’m still bearish.

Let’s have a look at a very simplistic example of the following company:

Share price: $100
EBIDTA: $10/year
Debt: $100 (variable interest rate: 2% = $2/year)
Dividends: 3% = $3/year (payout rate is only 37.5%, nice!)
To keep things simple, the company pays no taxes.

Bottom line: after all the payments, we end up with $5 extra dollars every year.
$10 – $2 – $3 = $5.
Pretty amazing.

What happens when interest rates start going up?
For example, from 2% to 5%.
Continue reading “The Triple Action of Interest Rates”

Birchcliff Energy: One bad quarter for commodity prices won’t hurt our company

Birchcliff Energy Ltd. is a dividend-paying Calgary, Alberta based intermediate oil and gas company that explores for, develops and produces natural gas, light oil and natural gas liquids.

Source: Birchcliff Energy website

Business was booming for Birchcliff Energy Ltd. (TSX:BIR) back in 2022 because natural gas prices were going through the roof.
Here is one of the interviews Birchcliff‘s CEO gave to Bloomberg:
Continue reading “Birchcliff Energy: One bad quarter for commodity prices won’t hurt our company”


Q1 results are out, time for some short follow-up.

Bed Bath & Beyond (NASDAQ:BBBY) went bust, and many other unprofitable companies should follow suit, but it’s a good start.
Bitcoin still costs 27k tethers, so, I think, we are far from the bottom but definitely closer since my previous post: Bloodbath and Beyond.
An interesting article on BBBY: The United States of Bed Bath & Beyond.
Ok, moving on.
Continue reading “WeBankrupt™”

Invesque Inc. debentures

A long time ago (well, pre-covid, lol), when I was an even worse investor than now, I bought shares of Invesque Inc. (TSX:IVQ, TSX:IVQ.U), which was paying some fat dividends back then.

Invesque is a North American health care real estate company with an investment thesis focused on the premise that an aging demographic in North America will continue to utilize health care services in growing proportion to the overall economy

Pandemic hit them hard, dividends were cut to zero, the share price was decimated, and in the end, it is an RE company but not REIT, they are not obliged to pay dividends, so they are still not paying them.
Thus, the share price is hovering around C$1, while it was C$9 before, while they are selling assets and trying to fix their debt problems.
Continue reading “Invesque Inc. debentures”

DISCLAIMER: The content in this blog represents the opinion of the author. No information here should be used for any purpose except for entertainment.