No. of Recommendations: 4
I have a more sanguine view of RMR and CWH. I sold almost all of my CWH common when it went up with the takeover attempt. It wasn't because I didn't like CWH, I just don't like the office market. There are a few blue chippers like Boston but they are very expensive with yields too low. Lots more people are into virtual commuting, there is a huge surplus of office properties and foreclosures are occurring frequently. I still own some CWH-D because I feel the income is safe, growth in offices? Not. Duke has pretty much gotten out of the office business for a reason(and they're pretty smart). It is true the shares are undervalued relative to book value and share price to ffo. The irony is that value in terms of ffo/book value has been created but the shares are down because of reasons Ralph mentioned. But I think all of this conflict of interst disparaging diatribe is overblown.

Remaining RMR holdings: CWHD, very little CWH, SIR, SNH.
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