For the last few months I have been very bullish towards Goodman...

For the last few months I have been very bullish towards Goodman Group, but after what I’ve seen last week with GPT some concerns about GMG possibilities to deliver value have surfaced. I believe that there will be some flow of cash from GMG holders to cover GPT capital raise and probably the sp will be diving under 30c before mid week. That raises the second concern, with A-REIT raising capital again I see GMG issuing new shares and the “strategic” partner underwriting a new capital raise. Now, the question will be the base price and the discount applied and, in the worst case scenario, sp offer could be on the low 20s. I clearly can see GMG surviving the crisis, but the costs associated to their survival will be carried by retail holders (us). I have taken some gains either in GPT and GMG (in fact with GPT I sold at 47c on Wednesday just because I felt it was going nowhere, and I was totally lucky since I didn’t see the capital raising coming). With GMG I sold my whole position 2 weeks ago at 41.5c and I’ll be in the sidelines, at least, until the end of the month with a clearer view. The next in line exposed to all this mess is IIF and my main concern on this is that part of the GMG available cash could end up on IIF capital raise if there’s some. This is only my analysis and it is obvious that I’m not a specialist, but I have seen more educated people than myself giving extremely stupid advice (BNB $14, AFG $7.5, ABS $2.25, MQG $60, RIO $150, etc.). Feel free to criticise y analysis since I admit I can be wrong and I’m still keen to buy on GMG but I want to minimise risk.