Few thoughtsI, like everyone else on this board, am happy to see the recovery of this stock from the depths of despair.
Few thoughts:
(i) The main mall reits stocks, SPG and MAC, have made solid rebounds and I was very happy to see SPG sue GAP for $90 million in rent not paid.
(ii) I do not see any insider buying from BPY last month? Am I missing something as it seems it was a good month to be buying?
(iii) If this rebound is for real then the opportunity for getting great assets in distress is out the window?
(iv) The capitulation seems to be long over for this correction but I have to believe there is tough "operational" slogging ahead for owners of malls and office buildings.
(v) Never short Bruce Flatt....nice to see the volume double on the way up this week.
Still very long but sold this week all of the stock accumulated since March,
Vette