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Exclusive: The Latest Salvo In The GGP Valuation Fight - Hovde Slams Ackman Again
The GGP slamfest continues with Hovde Capital's most recent evisceration of Bill Ackman's ongoing spirited defense of his GGP holdings (where Pershing Square has a representative on the Board of Directors). Full presentation pdf available upon email request.
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i couldnt say for sure who is right.
but i will say that Pershing's real estate proposal for Target made no sense...
Lawd that's a beat down... That will be all Mr. Ackman!
He is absolutely the most, smug, condescending and arrogant son-of-a-bitch on Wall Street.
I am glad to see him getting his comeupance.
So Hodve basically just re-compiled his last report and issued it as a "new" report? I wonder why the market doesn't seem to care about this "new report."
This is pretty funny though. Mainly because it is like inflation of ideas...the more of these reports that Hodve releases, the less they seem to impact. Everyone is just waiting for some real news (not Ackman bulls, not Hodve shorts), but ACTUAL news.
I must admit I laughed pretty hard when I read the part about how you can't be trustful of a company report when the company has a vested interest in this stock's performance, due to Ackman being on the GGP board....yet Hodve has openly shorted this stock.
Anyway, this is a no-play for me either way but I will enjoy the fireworks. If there are any...I get the impression that no one even feels much of a need to issue a response. How is that for an ego knock?
whoops, my spelling sucks. *Hovde* rather...well, that's dyslexia for ya.
Can you link a pdf version?
Any chance Ackman lets this slide, and doesn't feel compelled to pull a string of all-nighters and release a 100pg rebuttle?
Everyone on this website s/b e-mailing their SENATORS in DC and telling them not to vote for Bernanke confirmation. It's easy to do.
http://www.senate.gov/
Then click on Senators
ackman loves real estate. people don't like the fact that he's got a 20-bagger and did the legal on this deal and slammed the door shut on competition who want to own the collection of malls.
Hovde just keeps cranking out the misinformation while his position gets buried further and further under water. At this point he has to be getting pretty desperate. GGP is close to getting all the secured debtholders on board and will soon cut a deal with the Rouse bonds.
It's amazing how you still don't understand that General Growth is an excellent investment. I'm currently sitting on $398,000 in profits (bought 41,800 at average price of 1.37 and it closed at 10.90 yesterday).