orbis is selling, page-17

Hi Papertigger

For astute investors (analysts need not read on):

NTA at 30 June 10 - 33c irrelevant
NTA at 31 Dec 10 - Likely to be in the low 40s (also irrelevant and redundant for making investment decsions)

Analysts will say after the results come out this Friday "oh CER is trading at only 10% below NTA. Given its leverage and the low discount to NTA it sits among its peers, we see better opportunities elsewhere" LOL


NTA at 30 June 2011 is the figure we should be gunning at. When we walk, drive etc we look forward not back. We know how much SuperLLC means to CER and although it will show 0c value for CER as at 31 Dec 2010, it is highly likely this will not be the case come 30 June 2011.


Add on top of that, the potential writeups in REIT 1, REIT 5, CSF and the Aust portfolio, the NTA come 30 June 2011 may look considerably better as it will be reported later this week.

Cheers