Reggiemiller, Appreciate your post on why you purchased CNP. I have made no effort to visit centres, as not a great shopper(spender). I also worked on NTA valuations & think my worse case scenarios show CNP will survive. My figures did give a margin of safety, if assets were not sold at heavily discounted prices. I also spent some time on their most recent cashflow announcement (December Half) & then ran various interest rate scenarios, to see how they could handle interest rate increases. Whilst I don't have crazy valuations on them going forward because I have been fairly harsh on my asset writedowns, I still believe CNP will be a multi bagger from its current price over the next 18 months. The next 6 months is really about stabilizing the business through asset sales, which is happening. Whilst I feel sorry for those shareholders who have paid $4 plus over the last 4 years, I must say it has presented many investors with an unique opportunity to buy heavily discounted assets. Whilst I know many HC posters don't do their own research, it has been pleasing to be able to look back on my spreadsheets which were done sometime ago & believe you have done a good analysis of the situation. These spreadsheets have given me the confidence to continue building up my holdingm & sleep well at night. Liked Glenn Greenberg, CEO of Chieftain Capital Management comment on Swap's link, "Mistake to trust other people's research". He also encourages everyone to learn to trust their own analysis, even if it is sometimes wrong. Regards Buffett
CNP Price at posting:
0.0¢ Sentiment: None Disclosure: Held
