Hello Juster, <<We haven't spoke for a couple of years>>
Yes, and when we last communicated (August 2001)22 months ago, you posted ...
Message 16272329
... and I posted ...
Message 16272397
Since that time, my real estate has still not been valued by trial of exit price, have sold much of my bonds and bond fund recently at profit, and still am carrying some worth-less Global Crossing and NTL distressed debt securities, and am still waiting for the defining event in the process of collapsing asset weighed down by heavy debt.
If I am figuring correctly, my NAV is up by approximately 16.5% since that time, due mostly to currency and gold moves, and a bit to bonds, nothing to do with real estate.
Since that time, I bought into a Thai island resort and a Hong Kong retail real estate special situation partnership. Both ventures are showing about a 3x paper gain, but, again, not tested by trial of exit.
I have now a solicitation to buy into the second special situation partnership in Hong Kong with the same group, as the sellers are seriously bleeding, and will probably make a bet and place a wager.
Bailing out of California is certainly in fashion now, and the selling price, by all accounts, is very good, sort of like Nasdaq at 5000, except more like Nasdaq at 8000 ;0)
What are you planning to do with your loot?
Chugs, Jay |
