Good to see the smart guys from Orbis could'nt even outperform the S&P/ASX 300 Accumulation index to Dec 31 2008.As bad as the index was, these guys underperformed it!!
Their top picks in the AREIT sector included VPG, Galileo Japan Trust( Whoa!!!) Macquarie DDR Trust, Centro, IIF , Mirvac, great investments !!!
My point being, just because an Investment manager "punts" a stock,(with other peoples money) does not justify the investment fundamentals of the stock. As I thought, these guys have had a punt on a range of AREITs . In total it represents a small portion of their Fund( individual holdings are generally less than 1% of the Fund). They can afford to lose their investment, and unfortunately probably will
careful, page-65
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