watch the xpj, page-2

Buffett... I suspect you make posts sometimes as part of some noble cause to educate those not as blessed as yourself. I congratulate you. I do however take issue where people repeatedly talk about what they won't do (as doing nothing is always an easy option) as opposed to what they might do.

eg I was thinking of cooking a 5 course meal for my familiy this evening but have since decided against it. So what.

The other comment I make is that we need to be careful when suggesting that the REIT is representative of all listed property funds. Whilst I have not been able to recreate a current composition of the index, I suspect that it is dominated by a very small number (as in say 3) are 40% weighting and then the balance distributed over x number more.

Lastly, I have completed some analysis comparing smaller listed property funds with the index and cannot help but not compliance with the majors but a consistent underperformance with smaller boutique funds. Pre about August 08 there was a fair degree of correltaion but a good wholesome departure thereafter. That leads me to the conclusion that 1 of 2 things is inevitable... the index will fall to meet the smaller funds or the smaller funds will bounce to the now recognised discounted REIT.

Which one do you think?

Should I post this on all listed property fund streams?