australand heading back up, page-7

"What are your reasons for not liking them?"


Because I find MMA's claim of doing the *contrarian* thing unconvincing.
They were cashed up in late 2003, and if they could find *value* then, they never will.
What was wrong with the price of WOW, TOL, QBE, BHP, WPL in late 2003 ?
I call this *bull market bypass*.

I also note that they averaged down on PMP, almost chasing it down to oblivion. PMP are an unremarkable business, they've never done aything, never will.
If the net effect of MMA's endeavours to find value is to average down on PMP, leave me out of it.

PS. If you want to be in a good LIC, try any of ARG, AUI, DUI, MLT, AFI
Sensible investment decisions, minimal MER