KPG - Kiwi Property Group Limited

[SailorRob]

Actually agree with this to some degree. I have made most of my money from large wins on US based names over the last 20 odd years. (I would be far richer if I hadn’t taken wins far too early however). Still have most of my portfolio in US names, but also want a decent amount in NZ equities, but as you say slim pickings on NZX.

Yes and it sounds like you've done the work and are under no illusions at all. You will have your head around the future earnings from recent investments etc and if earnings are stable and predictable then 10% is pretty damn good.

Excuse my ignorance but it looks like they do 100 from operations like clock work but despite putting MANY hundreds more back into the business (actually over a billion over last decade), they still only generate 100. What am I missing?

And then if they do 100 and you're paying 1300 for it... Not the best return?