Maybe it's just my market but the malls are expanding not contracting. For example Lord and Taylor is leaving and Nordstrom is coming in.
I would agree that the portfolio has been and is continuing to be picked over. I guess that one needs to review the remaining portfolio before stating that the values are wrong....I'm assuming the Eddie has done that...obviously no individual investor has that capability.
I am refering to the analyst assumptions that put the $160.00 price target on shld. Now Eddie has done the appraisal back when he bought k-mart out of bankruptcy not buying the combo shld @ $140.00 and no one will be able to value this portfolio because there is a blackout on information. Therfore people buying after the 500% run are buying on faith not fundamentals.