As a long term investor i have held these for four or five years. I have topsliced but continue to hold balance long term. and avail of scribs. I am from the west of Ireland and am only too aware of property bubble. The only other property share i hold is php (u.k.) However i think you underestimate anglos management. they take no chances and can be ruthless if a clientgets into difficulties. A high profile business in connemara is currently in receivership having been closed by anglo and is now being sold . The vast amount of clients are personal and mega rich, well researched and anglo keep in very close contact. They are very shrewd operators