how safe is vpg

I seek safety first and growth 2nd. I have been reading thru some threads on VPG and they certainly are optimistic.
Many stks were oversold due to margin calls/hedge fund redemptions etc. If one can find 'safe' companies that were oversold.... then gains are very likely in 2009.
I have never bought into the ASX proprty sector and am bearish re commercial property in Oz and esp overseas over next several years.
But if VPG has solid income stream(s) and no re-financing problems i am happy to consider it. My Q. for holders: how 'safe'is VPG?
cheers
MikeM.