Our real estate portfolio

   A reader, NZ, asked for a summary of our real estate portfolios at GIP so here goes:

    For India, Ascendas India Trust, ACNDF.PK, out of Singapore. The share is a penny stock but well regulated by the Singaporeans. Also trades as AINT.SI.

    For Russia and eastern Europe, Elbit Imaging, EMITF.Q, Israeli oddball stock listed on Nasdaq. It is developing a Las Vegas on Danube in Budapest among other ventures. 

    For China, in the main GI portfolio, Xinyuan Real Estate Co., a developer (incorporated in Cayman Islands) of apartments and commerce in the outskirts of second tier Chinese cities. I visited one such and it is absolutely appealing even for a U.S. homebuyer. NYSE.XIN.

     In hotels and commercial property in Britain and the U.S., Guoco Leisure, GUORY.PK,  based in New Zealand and Singapore. Insiders poured into this stock last week via London.

     Our Israeli conglomerate Berkshire-Hathaway clone, an insurance company which is not doing very well on the stock market despite insider buying last week, also has property holdings. DLKGF.TASE. Delek trades only in Tel Aviv despite a U.S.-like ticker symbol. Unfortunately the IR for the firm refuses to answer my inquiries because they do not want U.S. retail investors in their group. I bought the stock without deceiving them, using Fidelity, but they have now cut me off. Conglomerates tend to trade at a discount to their assets particularly if they don't talk to the press. They fear reporting requirements will be imposed if enough of you buy their shares.