LPN : One of very few PROP stocks worth serious consideration
November 27, 2011 Leave a comment
For us, the lesson of the big flood is this : forget Bangkok and surrounds in terms of a long term property investment. Buy a city condo, and invest in a country home and land portfolio, preferably with a decent above sea level elevation and not in the path of a flash flood from the hills, nearby river or ‘huay’.
We do not see the logic in buying any of the big single home developers. Their land banks must be soaked by now.
We like Kanchanaburi, Khao Yai, some parts of Petchabun and Ratchaburi / Petburi. And LPN for the city condo punt on the market.
Indeed building a new capital near Pakchong with a hi-speed rail link to BKK (and nation wide & long) is our call. Now that could propel ITD to 15….. Alas, we must be realistic. Vision amongst the ‘leadership class’ is in short supply these days everywhere, as it has been for ages.
LPN….A dip to 10.6 or so will not take long, but it is in the 9.8 to 10 range where accumulation is of more interest. For Monday a bounce off of 11 has little room to move, with 11.25-11.30 now quite a serious barrier.