re bloomberg article, page-14

Thanks MM
When I saw MM posting on the GMG thread I was delighted to open your post.............but alas it was a question...

Here is my answer..............

As I have said before I look forward to reading your posts because they have so much meat in them.....

To your question


I have watched GMG (it had different names) for quite awhile.
It rapidly got past what I wanted to pay for it.
And then last year it stated falling.
I know people that work in GMG (middle management) and I have noted that they never say anything bad about the CEO etc so I presumed it was being managed ethically.
When the SP dipped below $1 and with the div so good I felt now was the time to study the company and start a position.
They have most of their assets /business in Asia.
While the div may be cut tomorrow, I do believe that the SP will move up.
I have noticed that your sentiment is against REITS.
You famously called a situation where you said it was a chance to get out of WDC


Anyway...to cut the wandering short and succinctly.....

(1) I knew the company
(2) Even though the company debt, it seemed to be managed
(3) Mark to market accounting requirements produced a statutory loss
(4) 92% long leases in prime industrial sites in Aust, NZ, Asia, UK (YUK) and Europe
(5) We will come out of the recession/depression sometime
(6) A good div
(7) CONTRARION INVESTING