For decades, the shares of property companies in Hong Kong have tracked property prices. It's a simple idea… When real estate prices go up, shares of property companies go up. Over the past two years, we've seen what my friend Peter Churchouse calls "a significant disconnect" between Hong Kong property stocks and property prices. Since the start of 2011, shares of property companies have fallen, while property prices in Hong Kong have gone up. This "disconnect" has created a great opportunity. |
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