I first mentioned about Hongkong Land almost a year ago (14 May 2014) in this article. It closed US$6.94 on that day. It closed US$8.33 yesterday (20 May 2015). Including the dividends of US$0.06 (19 Aug 2014) and US$0.13 (19 Mar 2015), the total returns would be about US$1.58 or 23% gain. It is easy to say the gain is obvious and anyone would have invested. We have to understand the situation one or two years ago. When I first invested in Hongkong Land at US$5.90 on 30 Dec 2013, many peers were very bearish about property counters. The property cooling measures were coming out one after another. Buying property stocks was considered suicide. I think there are many investors who still think so today. The more practical way is to deduct x% from the property valuation carried in the balance sheets of these ......