nice letter from bruce and alex, page-2

Poet lets discuss Fiji !!!! What % of Nadi Bay Beach do Sxx own ????

Is it 20% ????

So it's really only 20 % of the land value

Lets say Boris bought the land for $500,000 then sold half off then really the cost or value is $250,000

Lets assume property doubles every 10 years

1970 $250,000
1980 $500,000
1990 $1,000,000
2000 $2,000,000
2010 $4,000,000

Ok so I'm using vaucluse increase here

Lets take off sovereign risk and Fiji problems
Minus $2,000,000

It might only be worth $2,000,000 and Sxx only got 20 equity in the land !!

So Sxx Fiji holding only worth $400,000 !!!

That the hot capital valuation

Interesting

Hot trading

Hot capital