I agree with everything you said (especially since you agreed with me!) Lol.
However, I think the 50% discount to NTA is about understanding where property prices are heading. If they were moving up, then NTA should be the same as the SP or more. The reverse is also true.
Don't get me wrong, I think this share is wonderful but I have had three shares which were fundamentally 'brilliant' just announce terrible news.
I think our economy is nowhere near the strength that everybody (besides the opposition) have been crowing about. Perhaps the bad moon is on the rise?!?
Just be careful.
I'm less than optimistic now on the future state of the market, but hey, I always expected a double dip.
Good luck.
(I have placed this as only a buy as I'm not too sure of future circumstances, including property prices.)
SDG Price at posting:
72.0¢ Sentiment: Buy Disclosure: Held
