If you believe that things will eventually come good in Europe then this is a leveraged option on that outcome. Risk was that banks pulled out at the lows. That's looking more unlikely with each refinancing announcement. She's definitely a specky, but imagine what can happen once the first mall revaluation up occurs. That would signify the turning point and the weathering of the storm. These malls are pretty much staple requirements like Westfield after all. It was just undercapitalised going in to the crash.
AEZ Price at posting:
2.6¢ Sentiment: None Disclosure: Held
