I agree it doesn't look very flattering to the segment overall. The one important point is that VPG has 'hopefully' still a large pile of cash that will ensure they can withstand the bumps expected into 2009. Unless they have a CEO/CFO that went to the same school as the OZL guys...then we have trouble...
One problem I think also is and it is seen in the Banking sector at the moment is that a few REIT's get into trouble and everyone is tarnished.....You would be a fool to think that every REIT has the same risks...The same underlying assets.
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