CapitaMall Trust

[KopiKat]

I can't tell your chronological age but from your postings, I can guess your mental age which is what I'm referring to...

Being in the rat race ages one both physically and mentally... My mental age was stuck at the age I left the race and it regressed from there as my main daily interactions were with young kids... Unfortunately, the physical part continues to age and I wonder who's the person in the mirror...

AIMSAMPI reit and Keppel reit also have development projects, the former is within your target minimum.

As a matter of fact, I'd sold off all my AIMSAMPreit. I didn't quite like the way they handled the incident with Cambridge way back but stuck with it for a long while before I finally decided to move on... too early, of course..

Speaking of which, it is likely that CMT will announce a major redevelopment of either Funan or Tampines mall at next earnings release.

IIRC, they'd previously done some extensive upgrading at Funan? That's why there're now a lot more eating joints at Lvl1. Time to do a more major one?

The last time the bottom fell out of reits in 2008, it was shortly after CMT's implied yield remarkably dropped below the 10 year SGS around 3% IIRC.
Right now, it's 4+% vs 1+% so reckon there's still some breathing space, if the same paradigm holds.

There're 2 variables in play here. Remote as it may be (with all the free money printing and thus almost zero interest rate), remember to monitor SGS also.

Is Seth Klarman a value investor?

He's my kind of Value Investor. If you'd not read his book, I'd strongly recommend reading it.