$360 million of forced selling for passive funds of RYM on the nzx the last 24 hours, out of the MSCI index May 31. Now 35% below fair value, any property writedowns fully factored in, expecting good rise in NPAT next year. And ex div tomorrow! I see a German fund is gobbling them up, rated a buy by McQuarrie, Morningstar and others. Grabbed a couple today.....
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Neil Goodman, MD
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