RE:RE:RE:37 days of S&P record highs...For me, it is about shorting it on the way down and buying it on the way up.
As others have noted, these split corps are self consuming with respect to the NAV.
Now if the TSX goes on a run, then there is room and time on the way back up to reep a series of dividend payments prior to a potential run back down - all based on the NAV. At least that is how I play it.
As someone else noted here previously, thanks to all those who track and post the NAV for us, it is the closest thing to insider trading one can get.