TSX:CAR.UN - Post by User
Post by
lashingon Aug 30, 2023 1:07am
238 Views
Post# 35611262
Poor return, risky business model
Poor return, risky business modelSo what do you own? Not buildings. Banks own them, shareholders own the debt burden. Leveraged. Poorly run buildings. CAPREIT is a known slumlord. Their recent "change" sounds good (selling older buildings, buying newer well located units) but they run these new buildings like the old one - as slumlords. ESG being Kenneys new favorite thing confirms he isnt interested in unitholders .. he's interested in taking the publics money, leveraging it, giving himself big salary and bonuses, paying way less than money markets to holders and yes, you are holding the bag of an asset class set to fail in a big way near future. To top if off, CAPRIET building likely will be the dogs for anyone who understands just how bad they run things. Yes, I dislike this company. Everyone in the chain appears to be poison from non law abiding property managers to whiny baby Kenney who always says they get a bad rap for no reason. No Kenney, you deserve the rap.
I wouldnt touch this fund with a 100 foot pole. Money Market pays more with 0 risk. Oils pays WAY more with capital appreciation potential. Kenney can keep his ESG.