Ozfinancial report, page-7

Hi Steve

I know the RE sector pretty well from investing in LYC. Also held shares in NTU for a short period a long time ago. There was always a perception that HRE was good and LRE was bad which as we know today was complete nonsense.

There were a few posters on the NTU and LYC forum who were pushing the HRE mantra and it made me look into it a bit deeper and I came to the conclusion that the HRE story was simply no true, concocted by certain individuals that were pushing the story for personal and probably financial gain.

Simply put I don’t believe in the HRE or NTU business plan and I know both rather well which is why I post comments on the NTU forum.

Tell me Steve, after investing in NTU for many years do you think I have been wrong about a NTU?