I tend to agree with ProPunter23Red, There are definitely no...

I tend to agree with ProPunter23Red,

There are definitely no free lunches with GJT.

Just like any other speculative share, GJT faces significant obstacles. UBS has case of sour grapes and if other the lenders start to get ruthless, the $6.21 NTA, after Eurobonds conversion, will be gone in a flash. Liquidators do not care what the independent valuations are. They take offers no matter how opportunistic they may seem to shareholders. Even whilst lenders appear to have given GJT the time to increase occupancy to 99.5% and make the portfolio more attractive, that does not guarantee sale prices. Financing costs are eating up any free cash and GJT are only solvent in the sense that the sale of Shinbashi Redbrick provided them with additional working capital. If that was not enough, the overall fundamentals for Japanese property are just as horrendous as they have ever been.

Nobody in their right mind would touch this stock with a ten foot barge pole!

However, if there were not stocks like GJT, I would never have anything to buy. So whilst everyone out there is looking for value I will keep searching for the worst stocks around, buy small amounts when knives fall, and wait for market to change its mind. The only time that this has not worked is when I have gotten greedy and put all my eggs in one basket.

Good luck to all,
ididwork.