Stock Pickers Digest, in its July, 2015, issue, says hold Colliers International Group Inc., recently $47.01. Colliers completed its spinoff from parent company FirstService Inc. on June 1, 2015. Shareholders received one share of Colliers and one share of new FirstService for every share of old FirstService held. For portfolio purposes, we now have 1,302 shares of Colliers at $47.50 (the price of the shares at June 1, 2015), from our existing holdings of FirstService. We sold this position and used the proceeds to buy $1,000 of Colliers shares. A $1,000 investment would now be worth $987. Shareholders will not have to pay capital gain taxes on the transaction until they sell their FirstService or Colliers shares. Colliers is one of the world's top three commercial real estate firms, offering services in the United States, Canada, Europe, Australia, New Zealand, Asia and Latin America. In 2014, it had $1.7-billion (U.S.) of revenues. The stock is a hold.