the shorted recent turnover represents approx 25% of shares issued reported gross short sales are a farce,it is clear that asic are incapable of grasping the breadth of short selling across our markets.
today we have 5.6% decline on <10mill shares,one must assume commercial property is dropping in value at a tremendous rate, a value driven largely by material and labour costs combined with location,and presumably reflected in the returns received.
at this rate of general decline in property value we will all shortly be assured of debt values greater than asset base,the fee we receive for our labour may well be faced with very similar declines,alternately r/e will be in a growing state of disrepair worldwide combined with a rapid decline in rent returns. well i have an order in to buy,its substantial and at that point i will become an investor.
if i end up broke i am certain of being in very good company,the possibility of future returns are just to good on a relatively mature asset base.
macq pay their staff well as a result they have some of the smartest ppl in the world,and collectively a formidable group with a strong track record.
i say buy crush the shorts
MOF Price at posting:
8.6¢ Sentiment: Buy Disclosure: Held
