There is so much concern on quality of earnings and when the companies will be profitable.  He wants to see the industry mature.  He likes it long term.  The health side of this could be revolutionary over the next couple of decades.

He thinks they have a lot of valuable real estate and have attempted to monetize it, but even as they have done this, the stock has not made any headway.  The negative secular trend in retail is just too tough.  If they can't get the retail business going then investors may start to question if the real estate is really worth all that much.

The liquor and cannabis businesses are two distinct and different businesses.  CLIQ-T are going through a very extensive renovation this year.  They are doing the right long term thinks in the business but it will impact it short time.  There is great long term upside.

Historically this company has not had a great return on capital.  Returns from reinvestments have never really come.

Hold or maybe buy more.  It is dominant in electrical transformers.  Businesses overseas are starting to turn around.  Their end markets are all doing very well right now.  It should do well over the next few years.  It checks a lot of the boxes for him.

It has been a great turnaround story.  They paid down a bunch of debt.  It is a stable business.  Everything is going well, but there has been some recent political turmoil and is creating an overhang on the company.  It is hard to know how it is going to play out.

He generally likes the restaurant royalty business.  The one issue has been the rise in minimum wage.  Generally restaurants are raising prices to offset the minimum wages.  The long term trend is good in the industry is good.