As I've indicated numerous times before, CBG is a bloated pig that will be in single digits just before it's taken private.
There's no way it's worth over $10 a share now.
PS: CSGP is another.
In my opinion, the large issue with CBG will be how adept they are at exploiting the current business environment. Obviously, US sale, leasing financing, and other activity is down. However, there will be good business opportunities which are brought about by the financial crisis such as is disposing of lender assets, winning management asset/management, financial workouts, etc..
Well said. I bought today under $8 and may sell half my position in the near-term for a quick profit and keep half for the longer-term. PLD and REZ are great REIT plays for those looking at hard assets / dividends. ProLogis has a whole bunch of Fortune 500 tenants locked up in long-term leases that provide income stability until the economy rebounds.
Again the company's direct exposure interests to real estate is very limited, yes it has debt but its not over-leveraged and can service its debt. Employment, being a generally good leading indicator of commercial leasing revenues is certainly contracting so the short term will be tough for sales and leasing no doubt, and White has acknowledged that. But overall the structure is lithe, its primary cost of broker/employee/employer costs will contract in lean times, both by planned cuts and natural attrition and expand in again good times. I'm sure CB will be around for a good long while yet, but I wouldn't buy a commercial real estate related stock on the down leg of the real estate cycle looking for upward momentum in the near term. Its a buy and hold long term security. The cycle will turn and top out again, sell as near the top as you can guess and re-purchase as near the bottom as you can guess.
I mean look, the bottom line is that you people obviously are clueless. The company might generate a lot of it's fees from services related to real estate, but the fact of the matter the company has a lot of debt and does own overpriced real estate. It has a debt rating of BB-......not so good.
I mean using your logic, real estate agents should be in for a great next few years because they are only related in the service aspect of real estate and not owning it. Get a clue. This worthless thing will get much cheaper.
Who would have guessed? Whatever happened to Investor3000 & jorgenson?