Hudson's Bay Co. HBAYF

RE:December 15th HBC video on BNN link.

[seatleslim]

This is exactly the sort of interview that encourages me.  He is very confident and self assured, relaying that he's known this story since he was a "junior analyst".

But HBC did not even acquire Saks until 2013

It didn't appraise the flagship and mortgage the land until 2014.

It didn't sell the Queen Street flagship until 2014.

It didn't even own Kaukoff with all the European property yntil 2015

It didnt do the RioCan/Simon JVs until 2015

It din't sell L&T 5th Ave building till just now.

Assuming he's been a "senior" analyst for more than a coule of years, this isn't remotely the same company, and in fact the stock did respond to these moves; then came retail armegedon in 2017.

Saks and HBC make money.  L&T and Kaukoff don't.

They have just put a building up for sale that will likely trade at a price reflecting 50% of the cuyrrent market value; thats after the to-be-closed L&T deal at a higher number.

I don't think anyone should place value on the bid (or non-bid) for Kaukoff, but it hasn't been resolved yet.

A liquidity problem is simply off the table post WeWork deal.
If he's a growth stock manager, he correctly should want nothing to do with this, and it seems that he appropriately hasn't done much work.

HBC will "never be worth anything"; "the real estate means nothing"; "the retail will go bankrupt and take the tangible assets with it."

I disagree and believe this sentiment (demonstrabley ludicrous as far as I'm concerned) is the opportunity, and I thank the gentleman for reiterating this dilettente commentary.  He adds zero to the discussion other than explain why the stock is down, which everyone already knows.