January 28, 2014 7:30 Comments

Markets were down somewhat on Monday with Toronto down 1.0% and the S&P 500 down a small amount. Markets were set to open higher on Tuesday.

With emerging markets down, perhaps one should consider some of the emerging market ETFs. These are speculative and I woiuld consider only a small investment.


There was news yesterday about Hudson’s Bay selling a large Toronto store and an adjacent office tower for $650 million. They would lease back the retail space. I don’t now the lease obligations that Hudson’s Bay will have but this seems like a very good deal for them. I am not sure it was a good deal for the buyer. It does show the value of real estate and perhaps add to confidence in the Value of Canadian Tire which despite spinning off a REIT still owns over 80% of that REIT as well as substantial additional real estate. Melcor also still owns substantial rental real estate including over 50% of its REIT.