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Oppenheimer Holdings Inc. Message Board

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  • superbmomentum superbmomentum Sep 14, 2009 7:05 PM Flag

    REITs was a great investment decision!

    Shortly after my post on how great an investment decision REITs was...they started downgrading certain REITs' stocks and eventually by August 17th had downgraded the whole sector.

    Well, not only have the prices not fallen off a cliff but it is showing no signs of slowing momentum and the sector has easily outperformed the S&P for the past month... I am not sure if "eventually" they will be proven right but it sure seems to me as bad timing. (downgrading BXP? really now...)

    Based on this downgrade and some other failed predictions at the beginning of the year i.e. Fadel Gheit's price range of $45-$55 a barrel in 2009, I am downgrading the stock to a hold!

    The reasoning is clear: If they are following their own recommendations (which I am sure they are) then they must not be doing as well as one would expect. Thus, the change in sentiment...

    After note: now that the bulls are back from vaca...perhaps they might persuade their fellow bearish colleagues to reverse their failed recommendations...

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