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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: pezz who wrote (46865)3/5/2004 8:32:08 AM
From: TobagoJack  Read Replies (4) of 74559
 
Hello Pezz, Today’s Report:
I sold a block of Euro corporate bond fund and used 3/5 of the proceeds to buy:

2 dollops of Kungsleden uk.finance.yahoo.com @ SEK 208 and
2 dollops of Castellum uk.finance.yahoo.com @ SEK 173

Both are some sort of Swedish real estate.

A wise and cautious Canadian pal wrote me that the Kungsleden management has two main ideas. One is that they collect land and building used for old people's homes. They do not administer the facilities. That is done by local government agencies that pay them rent. When one of those is available they buy it and keep it.

In addition, their main business seems to be to buy and sell over the short term; very unusual in the real estate business. The moment they smell a whiff of being able to get an above market offer they sell and are off with their loot, trying to have lots of cash around to use when some property gets into weak hands and a below market order can snare it.

Kungsleden sounds like some company I should like. I will add more after DD, but just wanted to get in, now, given that I needed to off-load the Euro corporate bond fund, on the eve of inflation realization.

Castellum? I know nothing about them except that I have watched them for a while.

Chugs, Jay
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