Since my last posting I haven't taken any action on CMG. I've certainly been tracking it, but its price has hovered in the low to mid 60's and I'm thinking it it just too expensive. Also, I'm a little afraid to be burned again. Krispy Kreme (KKD) was riding high when I bought it at $47...the ensuing scandal had me sell it at $7.50.
This past Friday Business Week has an article on International REITS. I currently own a few shared of FIREX (Fidelity's International REIT) in my IRA account. I never thought it was the best one available, but I don't have much choice since my company forces us to hold our IRAs at Fidelity.
Business Week Article (registration required)
The article was very interesting. I thought a point they neglected to mention was currency rates and the detrimental risk of a rising dollar. They also didn't mention the high expense ratios...around %1.50 for all the funds except the SPDR DJ Wilshire International REIT (RWX). I think they ETF might be a good diversification fund. It is cheap (%0.60 expense ratio) and it has similar holding to the top REIT funds mentioned.
I have already transfered some funds to my brokerage account and will seriously look into buying some on Monday.
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