book value, page-18

I think RNY is cheap- but worry its too concentrated towards the one market (NY).

ABP is another I've only had a superficial look at, but does look cheap- can't work out what they're talking about the delay of the dividend relating to franking, are they for real?

Also have held BBP for a few weeks- will be interesting what comes of the offers. Another one trading at a substantial discount to NTA, albeit with its own issues to get through. Am hoping they just sell the lot. A good day yesterday- could be more to come...

Just never thought I'd see prices like this- but buying when everyone seems to be selling is more difficult than I imagined.