M. Mullen, exhausted of portfolio mgr and being comparedTFIIBeing ignored in relation to a benchmark with TFII is nuts. Congradulation to Mr. Mullen for giving up. He said it on Q2 conference call, even with solids buybacks, institutionnal dont support a decent valuation.
Even if, in theory, he should be buying back the stock, he is shifting its efforts to the small holder who value dividends.
I agree at some point, I don't see the love story for TFII getting to an end even with this crazy valuation compare to MTL. Lets focus on individual investors who will look for great dividends stocks as the rates goes down.
They own lots of their real estate, they are diversified, they can pay high dividends and growth it over time through tuck-ins acquisitions. This stock is worth 25$ in 3-4 years.