Posted on 02/11/06
Long term, investors are going to like trust move
Richard Rooney had every right to say, "I told you so," but he wouldn't. "This is not grounds for smugness and self-satisfaction," the president of Burgundy Asset Management said as he watched yesterday's inferno in the Canadian income trust market. But he, unlike almost everyone else in the investment business, warned us. Nearly four years ago, in an essay to the firm's clients, he talked about the risk that government might some day do something to halt the explosion in trusts.
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