6 months ago my eyes would glaze over if I saw anything to do with REITS
now Im infatuated and eagerly digest anything written about commercial property.
I only got into REITS because a mate lost a packet buying them on the way down. He'd come by and ask me what I thought of stuff like BEC and MFI ( not really a REIT but close). I got curious because I could see the value even in Sept/Oct but fotunately for me ( which balances other misfortunes) held off buying.
Then by early Dec it became compelling. I thought this is nuts and started buying.
Looks like the REITS bottomed on 18 Dec or thereabouts. I reckon the credit squeeze will be over soon since credit squeezes are not chronic conditions but flare up quickly and die down just a fast. By June 09 conditions should normalize in credit markets in Oz and investors will start chasing yield, esp if you only get 4% on bank interest.
I've got 8 REITS now, ABP is a class act amongst them
Players like ABP are perfectly positioned to use there extensive relationships to raise cash for opportunistic funds which they will manage. TCQ has already raised $100 million and looking for another $100million
If punters dont make 3 to 5 times their money on a good REIT portfolio from here over the next year or two I'd be very suprised.
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Open | High | Low | Value | Volume |
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2 | 56551 | 1.110 |
4 | 16855 | 1.105 |
8 | 223767 | 1.100 |
2 | 11694 | 1.095 |
Price($) | Vol. | No. |
---|---|---|
1.120 | 56244 | 2 |
1.125 | 4134 | 1 |
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