rough estimate nta 40c 30 june 2009, page-2

Defabstar,
Excellent post. Up till today's ASX announcement we could have argued CER at say 10 cents was only about 13.8% of its full value of say 70 cents NTA, now we can say at 10 cents CER is trading at 25% of its new NTA of say 40 cents, so the risk/return ratio has been slashed.That is it is trading closer to its NTA than expected due to these massive writedowns.
Many on this thread should realize normally LPTs trade at a discount to their NTA so 40 cents is the full 100%. Unless capitalization rates change significantly in the near future it will be sometime before CER has NTA of say 80 cents.
Whilst posters on this thread may not like it, today's announcement has taken away a lot of the perceived upside in the units.
If we assume 40 cents is the value that could remain for say the next 12 months, CER is still capable of trading at say 75% of NTA,which is 30 cents, so CER even at todays announced values will present trading opportunities to made good gains.
The cheaper the entry point to CER the greater the potential gain.
Regards
Buffett