valuations like that are all done based on steady state...

valuations like that are all done based on steady state economics, sure if the economy stays steady they might be valid

if they dont though

if it turn out that our property is just like everyone else s in the western world and is over valued

if we have in fact allocated to much of our incomes to debt repayment

if the massive downturns our export partners are about to bite our incomes

if unemployment is about to sky rocket to say +10%

if Obummer and his band of fools find they cant make wealth out of simply printing paper

then you might well be sitting in the calm waters just above Niagra

bear markets have rallies that cause even greater capitulation in the long run

its a game of hope and sorrow , hope and sorrow, till there is no hope, that signals the bottom

if you need an indication of whether its the bottom just read through the posts on the ANZ thread, everyones calling the bottom, bottoms rarely happen when everyone jumps on so quick

ANZ is simply rallying with all the rest

organic growth in China ? yeah right thats going to contribute 0.0000001% to income, pretty light on specifics if you ask me, organic growth in China , yeah right good luck, ANZ management cant manage risk in Melbourne let alone China

congrats the folk that traded the rally

IMO its a good time to take profits :)

the best indication of a bottom might be when TCIS pays out the 50 :)