Kingy, most people on HC would die to have followed in my footsteps. Refer to my previous postings on how to turn 1 house into many multiples.
I guess you would be right to say that I wrong (not dumb) if there is no resolution to the MMX issue and the share price fall to zero (quite a tall order to see a winding up of a company owing the largest single mining asset in WA midwest that the Chinese tried to buy but were denied before). If the company gets flogged off at $2 (it is valued at $2 by UBS on a derisked basis - if China buys it outright), then it's a 3+ bagger for me. I am laughing.
Reason why I am not dumb even if I lose the lot on MMX is that I am taking a punt (an educated gamble) and it is a drop in the bucket as far as my portfolio goes.
Reason why some property sellers are dumb (NOT all) is that they are naive to believe the REIV crap for which they are not the intended audience (quite the contrary - otherwise it defeats the purpose). The FHB and other buyers are the actual intended audience.
Problem is at this phase of the crash, it won't matter. The head winds are too strong and the negative economic fundamentals are feeding back into the price slump and vice versa unlike a year ago when the economy was not sick.
