Transactions may slow but they're not going to stop. Plenty of forced sales are going to occur over the next few years. Leases will continue to happen. Maybe not as many new ones but the landlord's broker still gets paid on renewals.
Plus CBRE earns a lot of revenue from large corporate clients that have outsourced their real estate services. Those contracts won't be drying up overnight either.
I don't disagree with some of your comments. You may wish to consider that the fourth quarter is always the best.
Secondly, corporate accounts can also cost you money especially during these times. Those corporate clients are very demanding and during a time like this, they have you running nationwide for small transactions (I am referring to the facility and tenant side of the business.
There should be no doubt in anyone's mind that CBRE is in trouble. They paid way to much money for Trammell Crow. They bought assets that have no equity and are losing tenants. They have way too many agents of which most are starving. The company just put out a memo quoting Obama that everyone needs to pitch in and take a pay cut, including the starving 100% commissioned agents.
Do you really think this is the best investment?
Let me give you a hint my friend, buy commodities that provide people with their needs. If you own CBRE, sell it and take the loss and put your money into a good company with a future.
Since I don't own the stock or have a short, I have no desire to keep posting. I would at least get a copy of the internal memo from Cal Frese dated February 10th.