In short: Owned indirectly, and the reason the H&R trade works either way. "If the deal goes through, because you're getting GO shares — and GO itself looks pretty cheap here… here it looks cheap. They have issues but…" The host discloses she owns it too (and in the episode's opening disclaimer names CAE and GO Residential as her own holdings). His framing is a double discount: "through H&R you're getting it and the stock is cheap. GO is cheap and then you get it under, even cheaper going through. So I don't think there's a lot of risk here."
GO Residential is the New-York-focused apartment trust buying H&R's residential portfolio, listed in Toronto in US dollars. Tardif's view of it is short and favourable: "GO itself looks pretty cheap here… they have issues but" — the sentence trails off, and no specific concern is named.
What matters is the route in. Buying H&R units below the deal's stated value means that, when the transaction closes and H&R holders receive GO units, you have effectively bought those GO units for less than their market price. "GO is cheap and then you get it under, even cheaper going through." That double discount is why he says "I don't think there's a lot of risk here."
The host discloses she owns GO directly, and notes at the top of the episode that both CAE and GO Residential are her own holdings.
19:00I own it back there. — But through H&R you're getting it and the stock is cheap. GO is cheap and then you get it under, even cheaper going through. So I don't think there's a lot of risk here. So if the deal goes through at the current price, you probably make some money. If the deal doesn't go through, we'll see what people vote for.
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Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.