yawner-go check the short sell list,mof is short,the mechanics of what is loosely referred to as short selling are another matter,my holding is courtesy of their activity as i did not take any entitlement on the retail offer,reason being ,well at an average of under the offer price, i think that would be sufficient,why, i believed mof would be attacked,given poor regulation and irrational accounting standards why wouldnt mof be short,however in this financial fiasco there is still something missing
as for bans on short selling,all the banks are short,private individuals can still short,they are the jesse livermores,private hedge positions are being taken irrespective of so called bans,thats a free market,when bhp was running at p/e of 30 i argued it was being pushed as were many stocks,my views were unfashionable in 07 and 08 ,but what can one say,unfortunately i was hit repeatedly moving from stock to stock,however these times represent an opportunity that will probably not be repeated in my lifetime,so i am in. it just strikes me as peculiar that no one is talking about the upside with any revaluation or a positive change in financial costs,that would see gearing levels move dramatically to the downside,it may also mean lower rent values,however that does not mean less profit,or lower valuations,real estate has traditionally been a stronghold and i expect what was will be in the future.
trading in the current environment for position is difficult,reits offer a reasonable risk/reward scenario
MOF Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
