cheap limited downside . . .

Mariner Retail America (MRA), is currently wallowing in the low 80 cents after going ex-div a week or so ago.

It's fully franked dividend gives a yield of over 11% and at these prices there really has to be limited downside risk.

Along with the 3 Rubicon trusts RAT, REU & RJT, MRA has to be looking very cheap.

MRA should be trading in the 90 cents range, close to $1 but the mortgage meltdown has left some skittish.

But MRA has of course no exposure to sub-prime in the US and bad news is factored into the share-price for no good reason, making it cheap.

Any views people?