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| DON'T BUY | 7.150 | Garth Jestley | In the equipment rental business in the Toronto area. A highly seasonal/cyclical business. High payout ratio. High debt. | 2006-08-11 | |
| DON'T BUY | 7.000 | Bruce Hartman | Ideal business trust has stability, lack of competition and a payout ratio below 100%. This one exhibits none of those characteristics. Their market is highly dependent on construction/contractors, so any slowdown in housing will hurt. Payout ratio is well over 100%. 18% yield indicates a possible cut. | 2006-07-14 | |
| DON'T BUY | 8.000 | Dean Orrico | Has a lot of characteristics you like to see in a trust but is a little smaller and has been caught in the down draft that has been in the market. Has been around a long time. Highly levered to the housing cycle which is quite cyclical. | 2005-09-30 |
