Citi and Wachovia downgrade GGP, after a 50% drop in price
July 31, 2008 – 10:49 pmCiti and Wachovia downgrade GGP after it gets cut in half. Great job fellas! Unfortunately, I couldn’t afford to be a client of yours. I just don’t have the money to spare. For those new to the site, I started my bear positions in GGP in November of last year and released research to the site in December, a full 9 months and 100% before the big guys caught on. See the latest summary. I have had an interesting history with this company. Do you remember when the CFO sent out that press release 9 pm Saturday evening trying to diss me and Herb Greenberg? How about the stabs they took at me during their conference call, referring to my erroneous and unprofessional research (it’s all in the summary if you’re interested in reading up on it)? It appears that I, and my very professional team, have been quite accurate to date regarding GGP’s situation. I wonder if they will now send out an apology press release this weekend.
This brings me to another point. If I were to charge for more uniform and timely access to my opinions, how would I charge. I certainly wouldn’t give it to Citi and Wachovia for a few hundred dollars per year, yet many of the small investors can’t afford $50k per year. Let me hear your opinions.
Citi Downgrades General Growth Properties (GGP) to Sell …
By real estate - Google News
Citi Downgrades General Growth Properties (GGP) to Sell StreetInsider.com (subscription), MI - 11 minutes ago … platform and “fortress” balance sheet.” General Growth Properties, Inc. (GGP) is a self-administered and self-managed real …
Wachovia Downgrades General Growth Properties (GGP) to Underperform
StreetInsider.com (subscription) - Birmingham,MI,USA
Wachovia downgrades General Growth Properties (NYSE: GGP) from Market Perform to Underperform with a $25-$30 valuation range. The firm said, “The shares …
One Response to “Citi and Wachovia downgrade GGP, after a 50% drop in price”
Wachovia… real geniuses. I actually owned GGP for quite a while during the real estate hayday and saw nice appreciation. I still believe they are more creditworthy than SPG or Taubman, but luckily I got out a couple years ago when it peaked. It had been run up too far, too fast, and now they’re in a real liquidity crunch. What would GGP have to drop to for you to go long on it?
By Michael - Credit Card Forum on Aug 11, 2008