No. of Recommendations: 1
Extendicare appears to be an investment in the $CAD at this point. Jim R's main comment at this point would be that he doesn't trust management to be the steward of his capital and if you want an investment in $CAD, you could find something else for that.

On the other hand, I'm not sure Extendicare is clearly doing anything wrong. Aside from selling the U.S. unit for a price that many Special Situation investors were quite incredulous about (not just Jim), Extendicare seems to be better appreciated by its current investors than it was a couple of years ago. Is it a better company now?
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