should never have been sold, page-11

re: map another smoke and mirrors special Alpha
You are one of the more respected posters here and your opinion is highly regarded by me.
Firstly I am not an employee, if I was I more likely would not be posting here. I am not even a client of theirs. My whole investing is done on Comsec.
As regards MAP the accepted view was that KSA was too expensive at $5B odd AUD. A Deutche Bank consortium was the losing bidder and they proposed that MAP at $2 was too expensive. A broker from DB called MAP at less than $1 and for one reason or another (SARS, Iraq) the SP rapidly fell to under a $1.
Many posters on this board hailed that as the call of the year.
The fact is that a DB consortium is proposing to pay amuch higher multiple for Budapest.
"Smoke and Mirrors"
Revaluation of Assetts is legitimate. You don't buy and sell Airports as you do other assetts.
Revaluation is done and usually if ever an assett is sold it does realise the revalued value. Likewise Toll Roads and Property.
All the Airports that MAP manages are run efficiently if not expensively, but that is capitalism .
There is real income and dividends are paid from this.
Alpha it is time get off the anti MBL bandwagon and underscore the value-adding they create.
You profess to be a trader. To me that is the real Smoke and Mirrors stuff.