the next one to get hit by subprime, page-24

Check out how much MGQ owns of each company.
For example MQG owns 18.62% of MCG, it owns 20.95% of MAP and it owns 23.67% of MMG.
I haven't even looked at the property trusts yet.
But on just three of the infrastructure companies you are looking at ownership worth the following -
MCG - $496 m (665% debt)
MAP - $1,385 m (272% debt)
MMG - $201 m (154%)

MQG owns $2082 m in just these three funds.
The parent company has a total of $6283 m worth of equity.

These three funds constitute 33% of MQG asset value
The return on equity is about 23%
If MQG were to lose these assets affect on price would be catastrophic. Earnings would drop about 40%
The company would trade at sub $54 but probably a lot less in this subprime climate.

What would the likelihood of that happening, you say?

Well here are two things
1. The company owns 5% of of CNP. It has just lost at the very least $250 m.
That money was lost to funds, you might say.
But is it? MQG will not let any of it's funds go under if they can help it.
But here is the second thing....

2. the company is already starting to sell assets. This morning it sold a part of its gaming assets to TTS for $350 m.

I am out. This company is teetering on the brink, just wait and see.