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Bristlemoon Capital
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Companies1
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Last published13 Oct 2026
Companies discussed, last 12 months
1 companies, monthly, latest action on the rightNovJanMarMayJulSepLatest
REARea Group LtdShortCommentary
DateManagerCompanyActionSummary
13 Oct 2026Bristlemoon CapitalREAShortBristlemoon Capital holds a bearish view on REA Group because it believes investors are underestimating fallout from Australia's rapidly cooling housing market, on track for its steepest downturn in 40 years. George Hadjia notes downturns typically last around 11 months, implying price falls into early 2027 and shattered confidence. Bristlemoon forecasts FY27 new listings falling 5–10% and warns that sellers may delay premium listing packages, making large price increases harder. With REA trading near 26 times earnings, Bristlemoon outlines a scenario where core earnings fall 5% and the multiple contracts to 20 times, implying a $98 share price, around 37% below current levels.
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11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.