People will pay whatever they can afford for life, health, and shelter. They are necessity goods.

It takes years to become a medical specialist. As in many developed countries, public healthcare must be rationed. Surgeons are in demand in the private sector. And an ageing population presents increased demand.

The New Zealand housing market shows signs of serious market failure. The building industry is strangled by regulation and land-use restrictions. So it could not keep pace with government mass-migration oversight.

Now the future outlook for very high prices is less than certain. Though other locations could show opportunity.

We have a few property-tied businesses in our portfolio. Awaiting market recovery in Europe. So, today, I am more interested in the medical area.

In particular, any business that can assist in the health recovery from COVID-19. And other serious ailments.

We just found one. A speculative biotechnology company. Its approach makes a lot of sense. Let me explain…


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