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I don't think it was wisdom. Many of the API investors featured were newbies when they started. So I think it was a combination of luck and the fact that they actually went out and did it. Thinking back to 2001, for example, in hindsight it was a great time to buy. However, back then it was...

So why not just study all the major cities, and always pick the 'cheapest' one and buy that? That's the reason I bought one IP in Perth in 2004, and I definitely didn't see the mining boom coming. Alex