bloomberg article

CQO gets a discussion in the middle of this article. I was pleased to finally work out what Orange Capital had been banging on about.

Interesting comments on Oz REIT's being underpriced. We are such herd followers in Australia.

But I loved this quote:

?No one has accused the Australians of being the smartest guys in the room when it comes to buying U.S. real estate at the peak of the bubble,? said Mike Kirby, director of research at Green Street. ?A lot of those deals didn?t create shareholder value and may be unwound.?

Now I am not known for defending the guys who lost me a motsa, but I do feel that US finance guys can't really dump on their oz mates this close to the GFC.

http://www.bloomberg.com/news/2011-05-12/hedge-funds-exploit-australia-reits-buying-just-before-u-s-bust-real-m-a.html