I suggested NAM for you, Graham - not for me. You're the one who...

I suggested NAM for you, Graham - not for me. You're the one who said you were chasing safe things.

NAM doesn't grow much, but it's been throwing off bucket-loads of cash and high dividends, with low debt.

Granted, it has low market cap, suffers from day-to-day liquidity issues and hasn't had much capital growth the past couple of years, but then, nor has cotton (in fact, out of all the commodities, cotton has been one of the worst underperformers).

Yet, in spite of all this - as I said - it keeps on paying out big licks per share. If cotton happens to go for a run, NAM will outperform.

[BTW, ALZ is still a property developer, not a propery trust and AAC, even if it owns a lot of property, is a beef producer, not a property trust. {Not that I've written off AAC - I just don't know much about it. You've piqued my interest, so I'll have a look.}]