I have been mistified by buy ups of CIY shares. You would think with bad headlines over CIY First Morgage loss to Balmain/Trilogy that they would be in free fall. Could it be a poisionned chalice if Balmain Trilogy have to find a new financier for the debt. In this financial climate who would risk an arm and leg here? Can CIY survive with other ventures with real estate turning around eventually and 3 cents a share seems cheap? CIY seemed to have CBA on side but as a deceased estate benificiary I was always concerned that Balmain/Trilogy would cave in and fire sale with CBA or some new financier following suit for a small scrap of what's left of value like Storm's demise. Symonds, the bad boy cricketer lost a million in Storm and probably wont see a cent of it. Will I see a cent of it? My gut fealling re CIY shares is to wait and see what CIY limited's true financial situation is and not be the angel that doesn't fears to tread.
CIY Price at posting:
3.4¢ Sentiment: Hold Disclosure: Held
