Greedy when others are fearful? or Foolhardy?

$CityDev (C09.SG)$

based on the news, CDL has bought a big piece of land in Suzhou China.  I am doubtful about the management's read on the China macroeconomic environment and the property woes playing out now.  It's true that high risk may give high rewards, and that when others are fearful you should be greedy... but there is also such a thing as foolhardy and not learning from past lessons.  CDL has never had great or even good success in China.  And The Sincere fiasco showed the inexperience of the younger generation of CDL leaders, resulting in record losses.  To jump in now is risky and I think it will end badly for CDL.  I am vested and I should quickly exit my position even if at a loss.