Guardian Capital Good afternoon to Mr Rock,
I read with interest concerning your investment in Guardian Capital. I think that shares of GCG and GCG.a are not so well-known. For years and years, I have found myself attracted to the obscure corners of the market. So I undertook following your mention of GCG.a to look at the company. It looks good to me. Where does one see an asset manager with tangible book value equal to approximately 90% of the share price? When one (a) looks at the $18 bil. assets under management and (b) reflects on the management fees which Guardian Capital earns on these assets and (c) considers the tangible book value (approximately $9.00) that stands behind each GCG and GCG.a share, the shares in the 10.50 range feel inexpensive.
I wish that Guardian Capital would sweeten the dividend to $0.17 semiannually (instead of $0.17 annually). Such change would be a catalyst. Many people are probably declining to participate at present (while the dividend is so low).
I have retained my HRX shares because the future of this company feels bright to me, but I tiptoed into GCG.a shares with some other funds that were awaiting investment. So I am thanking you for bringing this quality name to my attention. If you have any other thoughts to share regarding GCG.a or anything else, I am always interested in new names. I will mention that I am so far disappointed in the performance of EcoSynthetix shares, symbol ECO, but I think that this is one with potential. A medical name that impresses me at the current depreciated level is CRH.
Good luck in 2013 to Mr Rock and to all.
Robert