property ownership, page-31

valad are still doing development deals,its the nature of their business,confidence in markets generally appear to be on the way up,so its possible they will be able to trade into solvency,its all technical, marked to market valuations as a short term requirement in a long term business are a ridiculous impost on balance sheets.

lost lots on vpg thinking it was a safe resilient haven, they have a good business model for a growth climate,we are missing the growth bit worldwide,i am 100% invested in the reit sector,mof ,gpt which looks a bit wobbly with an outstanding 2006 put option on assets.

still keep my eye on vpg,as pointed out smaller developments have a possible market ,with little available finance for the big ones,hopefully the g20 are not deluded by the very substantial contribution hedge funds have made to our current
world market situation.

ie. financials not being shorted ,they are all being shorted
bought bkn recently it dived by 50% and recovered all in the space of 2weeks,shorted severely and they say this brings integrity to markets well it certainly doesnt create confidence,i took a large hit on bkn and bought back into the reit sector ,recovering far more than the loss,will stay invested for the longterm,vpg have great upside ,read mof ann. from macbank on the state of the aus reit sector ,our infantile market has been hammered between cross rates
and liquidity o/s funds are making a fortune mitsui just pulled a substantial stake from mof selling into the strenghtening aus dollar,so there is more than one game at play,and our currency is vunerable