HI EMark,Sorry for not replying to your e-mail earlier. I had a...

HI EMark,
Sorry for not replying to your e-mail earlier. I had a resposnse typed out, and my comuter crashed. ref a certain poster on another thread, I actually like his posts. It is a good balance between him and the other poster. the other poster needs to learn to keep his head.


I like Valad as a REIT exposure. Out of all of the REITS, I think VPG has the most upside and has been the most oversold (I originally bought at .056 and still thought that at .12.)
I like the fact it has good UK assets
Management seems good (excluding recent acts with the lack of news and way the HY09 accounts were released.
gearing is not too bad.
The scarborough malarkey (40% drop) and the 800M hit in the HY blindsided me though.

With a NTA of 51c per share, and some already serious writedowns in place, I can;t see it dropiing much further. Liquidity is starting to return to the market. People are returning to the markets (albeit slowly)

I used to live in the UK, and land is at a premium - they have used pretty much all the land there is to use. Also with the ever expanding EU, everytime a new country joins, the UK gets an influx of immigrants.

Long term (3+ years) VPG seems like a sure 5 - 6 bagger - and that is from my AVG of .075.

Looking forward to divs being reinstated in 18 months time and insto's buying in.