They may thus, say the three economists, have been buying in order to exchange over-valued equity for real assets.

ECONOMIST: Hostile bids are back again. Who should rejoice?

In terms of the real economy, the Swiss currency certainly looks over-valued.

BBC: Swiss move to make its safe-haven less attractive

Mark Isherwood (Conservative) asked what the First Minister was doing to represent the real concerns of the over-burdened and under-valued Welsh business sector?

BBC: NEWS | Programmes | BBC Parliament | Wales: First Minister's Questions (05/05/04)

Investors fear certain exposures such as sovereign debt and commercial real estate aren't being prudently valued and that banks are manipulating the Basel risk-weighting rules to overstate their capital ratios.

WSJ: Agenda: Basel III��Don't We Have Enough Problems?

Greece has valued its sell-able assets at 50 billion euros, with 55% of it in real estate, including Hellinikon.

CNN: Could derelict airport be Greece's economic savior?