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Author: Phileo Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 3296  
Subject: update on my radar Date: 2/25/2006 2:23 AM
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WestField REIT (WFD.UN) - http://www.westfieldreit.ca
This microcap reit used to be worth less than $30M, but now it's worth over $116M. That should be good for a 4-bagger, right? Nope, it's just massively diluted its shares outstanding, executing over 4 share offerings and/or equity financings in the past 10 months alone. And then to top it all off, it recently executed a 15-for-1 reverse split. Before you dismiss this company, note that it's taken all that money that it's raised and bought a whole bunch of properties all across Western Canada. With that comes a big boatload of mortgages as well. I don't think it has any mortgage-free property in its portfolio.
Yup, WestField REIT is living on leverage, pure and simple. As scary as it sounds to see how leveraged it is, part of me does admire this glorified landlord for creating so much wealth from so much leverage.
And, it's been anointed with the RobTV effect, and I'm willing to bet that there will be one more mention of it on RobTV which should allow me to lighten up my position in it.


PetroField Industries (PF) - http://www.petrofield.com
This little guy sells picks & shovels to the O&G producers. It's a quiet, boring company that actually generates lots of net income. I guess I liked it because it was different from all the other companies in the O&G service sector. And its chart looks pretty nice. Will probably hold it until just before it reports Q2 results in April.


Skor Foods (SKF)
Just like with PetroField, there's not much news reported by this company. I don't own it yet, but I like its most recent quarterly results, and will be looking for a decent entry.


Thx.
Cheers,
Albert
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