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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks

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To: David Culver who started this subject	6/4/2003 1:36:06 AM
From: a.handbag.	Read Replies (2) of 11633

Trusts looking a bit expensive IMO. I have become convinced of two things. One, lower yielding trusts are not safer, whatever that means, and two, for energy trusts the reserves per unit decline with time. They make an acquisition and report it's accretive to unitholders. Well of course it's accretive, how could it be otherwise. A week or two later comes the secondary offering, but no word on the new reserves PER UNIT.. How should one play this? I have resolved for myself that if the reserves are declining then the price I pay for those reserves should decline. I can't make the market drop the price, but I can drop my price that I am willing to pay, and that is what I have been doing for years. So, for cheapskates who only average down there's not much to buy.

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