Why Dunedin’s CVs Are Misleading — And What The Big Short Can Teach Us

Dunedin’s 2022 capital values were set during a housing boom fuelled by record-low interest rates and quantitative easing. But with interest rates rising and the market rebalancing, those CVs are no longer a reliable guide. In this post, we explore how monetary policy distorted value, what Michael Burry (The Big Short) got right, and why real-time market data now matters more than ever.