I have to agree with you. Life has become so depressing over the last year. To tell you the truth, I cannot see any way out. Furthermore, according to what I keep getting told, we are all >insert chosen expletive<.
However, once the negative equity of City Gate is written of the books, AEZ will only have Champion in Greece. According to the latest report,
"The Carrefour Portfolio has been independently valued by Cushman and Wakefield at €68.0m as at 30 June 2011. Although sentiment towards the region as an investment market has deteriorated further, the valuation is relatively stable over the year reflecting the portfolio's key characteristics: a strong lease covenant, inflation proofed rent indexation and a non-discretionary product. Accordingly, there has been little movement in the Fund's unit price over the course of the 2011 financial year."
If you want to believe them, the commentary sounds mildly positive in terms of the state that southern Europe is in. I am not denier. However, I am not quite ready to go and jump off the cliff just yet.
ididwork.
AEZ Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
