Lol MrT posting on his second account...
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The best investment/decision Sky did was buy that piece of land in Mt Wellington all those years ago. Back then the area was undesired and rundown. Now that area has become very popular with families and people wanting to enter the isthmus property market.
Where are the buyers today, only 1m wanted but nearly 2m for sale. 70m traded this week and price up 20 percent
I use asb market depth and there's no way it's indicative of what's happening on a daily basis at the moment. Without seeing another update on substantial holders, one wonders who's buying and who's selling; just hope the run up continues until the next news se we see a lift on the higher base.
These guys havent been lining up with limit buys, mostly at market and off market. They dont really care about one or two pips.
Thinking on this more - they only have $200m AUM and they probably get a fee based on capital increases, they are actively buying more to get the price up… like they did with NZME , id say they wont stop buying until its reaches a level that pays quite nicely on their previous DCA buying.
Previous to the disclosure they were buying with stealth and so they did it over a longer time frame with almost no1 noticing. now that the cats out of the bag they have significantly ramped up.
So many LOLs! Like Ogg said if you look through their portfolio there is some fairly drab villages in there.
They have also just bought land in Pukekohe - I definitely would not say this is a "premium" location
Not to mention Summerset has heritage 300m away.... Nobody has responded to me about that!
woohoooooo!