Oxley Holdings

[safetyfirst]

Oxley is one of the most interesting property counters out there, with a NAV per share of 16 cents as of 31 dec 2013. Closed at 66 cents yesterday. Its market cap works out to around 2 billion.

With most other established property counters trading below NAV per share now, what do you think is going on? Is it really worth 4 x book value? Or are people out there "pretending"/"creating" optimism? Anyway, i think it is practically impossible for the policeman to catch this group of people. These people can always argue that there are hidden opportunities that others cant see.

Valuebuddies will obviously play it safe by ignoring such interesting counters