Biotech Values

[biomaven0]

>>rationale for owning PCL indefinitely

The unique thing about timber stocks is that the underlying value of their assets appreciates because of tree growth even if they delay felling (assuming constant timber prices). Quite a contrast to an inherently depreciating asset like a mine or oil well. I'll take a 3-4% yield on a stock like this rather than a long term bond any day.

Peter