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  • Seven Key Points From Simon Property Group's Q408 Conference Call [View article]
    SharonW - What an excellent comment. Everything about SPG's conference call was an attempt to direct listener's attention away from the elephant in the room which was bashing the place to smithereens.

    As a worthwhile investment, this stuff is done. Kimco is probably the best retail REIT out there and even they were crushed.
    Feb 09 16:04 pm |Rating: 0 0 |Link to Comment
  • Seven Key Points From Simon Property Group's Q408 Conference Call [View article]
    This business model is toast. Investors made a lot of money on the retail REITS a few years ago and appear to be waiting for the opportunity to get back in because their past success proves that these operaors are really smart.
    No it doesn't. They grew their businesses exponentially using unwise leverage during a time when cap rates were moving 350 basis points in their favor. They couldn't screw it up back then.

    Hurray for those who rode the stocks up, but while they were laughing all the way to the bank, the ground was eroding from underneath the business plan. Know when to say enough is enough and focus on non-retail for awhile or at least some company that isn't saddled with these malls.
    Feb 03 08:48 am |Rating: +8 -2 |Link to Comment
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