Tomorrow I will take a position in two similar stocks - Plaza Centers and Dolphin Capital.  They are similar because they are Real Estate developers in trouble.  Both are overextended in some unfortunate parts of the world.  Consequently, they don't have enough cash, and are suffering from depressed asset valuations.  They are outstanding opportunities because they are trading at massive discounts to book value and both will probably survive - though this is not for certain.  Plays relating to a discount to book value can work well when assets can be sold, with Real Estate this is a natural part of the business.  I have done an extensive amount of reading and research on these companies, and have satisfied myself that these are great investments from a risk/reward perspective.  While I don't have time to discuss these further, I hope to do so in the future.