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La Quinta Properties Inc. (LQI) Message Board

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  • Vaalie60 Vaalie60 Feb 27, 1999 1:11 PM Flag

    Bought FAX over MT in an IRA

    Probably not smart to put it all in FAX -- but
    depends on the extent of other sources of

    FAX pluses:

    Apparent good performance of
    Aussie economy (low inflation, prospects for
    Sells at a discount to NAV.
    Probably some good
    opportunites in Asian bonds.


    Fixed income investments -- you need further interest
    rate declines and/or currency appreciation to get
    growth in NAV.
    Declines in NAV in the past 2 years as
    dividends exceeded earnings (minus portfolio
    Leveraged by Preferred Stock (makes for more

    Debatable item (and biggest risk factor):

    value. (I have seen the commodity argument go awry
    before.) On the other hand, I believe that increasing US
    trade deficits and net debtor status of US make the US$
    increasingly vulnerable.

    Comments re Value

    Their coverage of REIT's is very limited -- only 15 or
    so of the largest REIT's vs over 250 REIT's out
    I have seen many of their 3-5 year projections go
    awry -- they don't have the best analysts on the


    You should probably put some funds into 3 or 4 of the
    following REIT's: MT, SKT, TRI, CEI, TCT, JDN. All have
    yields of 10% or more and some prospects for growth
    (except JDN, which has a 7% yield and better internal
    growth prospects), but do carry some business risk --
    that's why I would spread it out -- the REIT's are in
    different sectors.

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