why the price drop?, page-4

Well, I would say that it may have something to do with:

a) Sale of the hotel in sydney at a 10% reduction to June 2009 book value [http://www.theaustralian.news.com.au/business/story/0,28124,26263137-25658,00.html]

b) Murmurings of GPT participating in a potential $740m acquisition [http://www.theaustralian.news.com.au/business/story/0,28124,26251699-643,00.html]

c) Increases in interest rate cycle - which has a negative impact on spot asset values

I don't agree with any of these reasons having material long term impact on the share price - however the question was why the sudden movements - and I believe these reasons have influenced the herd.

At such times I quote the oracle of omaha - "In the short term the market is a voting machine, in the long term a weighing machine"

I try to buy heavy weights at lightweight prices :) :) :)

PS: For those wanting news, I go to news.google.com and type in GPT - and most of the information is there on demand, rather than waiting for someone like me to come along and aggregate it here!