TSX:AX.PR.E - Post by User
Post by
SNAKEYBOYon Sep 08, 2023 9:36am
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Post# 35625830
Artis's Strategy
Artis's Strategy
Looked good on paper, tougher to execute then Manji predicted. If interest rates went back down quickly, FCR/D would have ripped to 2021 highs, he would have made a quick 50m on their investment, Artis NAV would have been $20 and SP $15. Manji would be genius.
Of course, his strategy requires "betting" and "timing", didnt have a game plan for recession / high rates.
Now look at PMZ CEO dscuss capital allocation. Very meticulous.
1. LOW PAYOUT RATIO
2. FREE CASH FLOW FUNDING NCIB, DEVELOPMENTS
3. ACQUISITIONS
"Capital Allocation" https://vimeo.com/860196206?share=copy
When Manji overlevered to buy public securities and cominar, is the mistake now he cannot unwind