The Rising Influence of Rising Affluence

[DewDiligence]

Some PCL weakness might be attributable to yesterday’s WSJ piece on Representative David Camp’s tax proposal, which bars REIT status for timber firms:

http://online.wsj.com/news/articles/SB10001424052702304020104579433380799074254

However, I think it’s highly unlikely that such a change in the tax code—if enacted—would be imposed retroactively on existing timber REITs such as PCL.