LIQUOR STORES NA LTD 4.70 PCT DEBS T.LIQ.DB.B

RE:RE:RE:Power of the USD

[Ticker28]

Prices are regulated by the province of Alberta and they purchase from a liscensed distributor.  I think what D Trump was trying to make a point of was that the funds from the US operations would be USD and add approx 40% when converted into CAD on the earnings statement.

Some keep thinking this is an Alberta only story but don't lose sight of the economy of scale that the east US markets will bring.  Plus oil story is set to turn the tide midway this year, oilsands still maintaining production, and the real economy in the resource based markets should see recovery by early 2017.  This company is thriving in this market and they have been expanding margins not losing them.  I would think we would have seen more pressure on the margins in last quarter if it were such a threat.

Another thing they are doing is protecting and gaining market share in all markets.  This bodes well as competitors have less cash flexible positions and could even fold up shop.

This is way below book value and if you strip out good will it's still way under valued.  Give them a chance to show what they can do in the East US and we will be well rewarded.