Biggest threats to PRT, page-7

By the way, I don't think there are "cheap" stocks in Australia any more. It is ture that there are a lot of bargain in the begining of last year like ASL( share price of 0.2 VS NTA of 0.7), MGX(share price lower than cash balance), S32, MTS,WOR, MND. They are no longer cheap. Most of my holdings now are Multiplex sites trust with little australian shares. There are a lot of bargains in Hong Kong's listed real estate companies, many giant developers or renter companies have PB of less than 0.4, and many of those companies have a lot of depriciated real property on balance sheet but the true value have more than doubled. This kind of valuation just like MIX, GMG, GPT in 2008-2009, or even cheaper. Check 0683, 0216, 0369, 1098, ETC