TIBBSI personally, dont think that we have reached the bottom of...

TIBBS

I personally, dont think that we have reached the bottom of the asset valuation cycle, realistically there are very few buyers of quality assets, eg dalrymple bay, never alone non prime assets, the same applies to real estate or infrastructure

The other interesting thing is that the banks have not fessed up to all of there bad debts, early 2009 will see heaps of assets being put up for sale, they will be forced sales, not like what we are seeing at the moment where we are in the workout phase

It worries me that if the likes of BBI are FORCED to sell we will have blood on the floor, asset values will be shot


If you own an asset, any asset, with high (50% plus) gearing, the day of reckoning is near, we have not seen any thing yet