By: Derek Lim That's the nickname given by my friend and I when we decided to invest in it. I admit that it was over exaggerated but that's us. When we invest in a stock, we like to give them nicknames. It sort of keep us interested in the stock and also reduce the pain when we made a loss. As its nick suggested, what really got me interested in ARA is that it is one of the largest REIT manager (Fortune REIT, Suntec REIT etc) in Asia. In view of the current market uncertainty, ARA seems to be a good defensive stock to hold. However, the market clearly doesn't think so and the price has been fluctuating wildly. Hence my decision to offload. One important lesson I learnt is that while an REIT can be considered a defensive stock, the one that manages the REIT is not. At least that is what the market thinks. Credit Suisse (the stabilizing manager) and even its own investment company - Cheung Kong Investment has been reducing their stake. I don't quite understand the rationale behind it - how does selling the shares help to stabalize the price when there are more sellers than buyers?