Centro2008 - there is a lot of truth in what you are saying - it is also true AFG's asset was very pertinent to BNB - as their troubles are going to be "sorted" by the sale of wind farm assets - CNP's assets are real estate.
I would respectfully suggest that CNP forum readers read the AFR regularly with particular reference to the real estate sector (A-REIT sector) - in today's AFR there are BIG players who have pulled out of selling - because the value they require cannot be met - eg World Square (50% owned AFG), GE Real estate have also been quoted.
Equally, the major commercial real estate agents are laying staff off Jones, Lang Lasalle - 25 (AFR p.55) . Goodman Group - allegedly cutting 50 staff in 2 tranches.
The sector as a whole is in a dramatic downturn - just look at the SP's of other RE players.
Debt and valuations are the key - forget cashflow and earnings - which I know CNP enjoys.
Sadly I sold out of CNP back at 38 - and am waiting until the sentiment in the sector improves before getting back in - but may ride some short-term rallies - as for investing and waiting for a major bounce - its not for me - there ar e loads of other better opps around - but I hope CNP thrives rather than just survives but my view is that it is doing no more than just surviving at the moment and it will take a lot of asset sales to move the price significantly - and I would be the first to admit I might miss out on a short-term run or tow - my trading capital is too important to me now.
CNP Price at posting:
0.0¢ Sentiment: Sell Disclosure: Held
