Hi Felix,
Indeed, luck has a role to play in this and we should not think that this development at Saizen REIT has nothing to do with luck.
Whenever anyone tells me that he doesn't believe in luck, I would wish him luck.
When people buy any REIT that is trading at a discount to NAV, I would ask them why?
If they are hoping for the value to be unlocked, then, I would wish them luck. They would need it.
Why?
It might or might not happen.
When we buy into a REIT, to me, the main motivation should be for ...
...A reader, Felix Leong, left me a comment on how Saizen REIT's shareholders are just lucky to get a good offer.
As I was replying to his comment, I decided that there is a lesson in this and that I should blog my response instead.
Felix Leong's comment: