year of the rat , page-42

I have a had a good look at all these Rubicons, and they are a SCREAMING buy.

The only really dark cloud was the AFG managemnt of them.

If you go through their property portfolios they earn more from their rent than they pay for their interest. (i.e they actually are profitable)

Even if they have large writedowns their NTA will still be significantly higher than their current share price. The CRE's are risky but far from insolvent. And the margins above their borrowing costs are high.

Goldman have been gobbling up RJT , Kinghorn has been going for RRT and now BNB is going for all the Rubicons. Why are they buying while the retail investor is panicking!

Significant mistrust of Property and AFG have created a fantastic BUY opportunity (yes I hold) when the clouds clear the value of these are at least 2/3/4 times higher than their current SP.

Why does BNB want to buy? Well they want to control them of course because they think the property is worth signifnactnly more than their SP.

Look at their yields, they have only suspended them to shore up their Balance Sheet. Now that bnb take control these will (in the course of time) come back to alot closer to their NTA. Do we all think that good investment grade property to A rated clients (think govts, major corporates)wont continue receiving the rent?

I already have signicant investment but first thing monday will be buying as much as I can. (is this a big enough ramp for everyone!!)