monday 4.5c plus for sure, page-12

Instos are under a lot of pressure ATM (no sympathy just fact). They are being forced to sell due to redemptions, and in some cases making what seems to be irrational decisions, but ultimately they have to choose a stock to sell.

So if you are a REIT manager and hold an Orbis like portfolio of REITs, and all your REITs have been smashed, then what REIT do you choose. They are relative decisions, and if you have lost trust in VPG management, then you may choose to get out...just conjecture of course.

Personally, I am happy to hold, and supportive of many of your views, but ultimately everyone has different pressures and decisions to make.

Also, I wouldn't be surprised if this week shook a lot of punters. In my portfolio, BBI delayed accounts, BBP announced delay of any payment of BNB loans inc interest, HFA published results a week later than originally intended and could not advise shareholders when it would be published leading up to the results, and we all know the VPG saga. Thus, I wouldn't be surprised to see many punters get out. They will be thankful to exit if there is a small rise in price, and panic if we hit 2s.