Home Picks Investors Groups Discuss! Research

Search

Sign Up   |   Log In   |   What is SocialPicks?

Please sign up for SocialPicks site access - it's free!

Zac Bissonnette Return Risk -10.10% MID Tracked Blogger Profile & Performance Subscribe to author

Symbol Sentiment Start Return Closed FRE n/a GGP 12/10/08 -35.19% -- FNM n/a MBI n/a ABK n/a Via BloggingStocks:   Filed under: Stocks to Buy With big bets on the collapses of companies like Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) and MBIA, Inc. (NYSE: MBI) and Ambac (NYSE: ABK), William Ackman profited handsomely with his bets on the decline of the housing market under the weight of too much risky debt. Now he's taking the other side of that idea. In an amended 13-D filed with the SEC on Monday, Ackman's Pershing Square Capital Management disclosed that swap contracts with several institutions have raised its stake in General Growth Properties (NYSE: GGP) by an additional 18.1%, on top of the 7.5% stake he reported last month. General Growth Properties owns and/or operates 200 regional shopping malls in 44 states, and had been one of the most highly-valued REITs in the market. But a heavy debt load and economic woes sent the companies stock price from more than $49 toward the end of last year to a low of 24 cents last month. The company has major issues with its creditors and has attracted the scorn of credit rating agencies. Given Ackman's record on real estate and debt predictions of late, it's hard to make the case for betting against him when he finally expresses some bullishness on a distressed company. Ackman ups stake in General Growth Properties originally appeared on BloggingStocks on Wed, 10 Dec 2008 17:15:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments   Read the rest of original post »

Be the first to comment on this story and earn 2 points.

IN THE PRESS

About  |   RSS  |   Feedback  |   Contact Us  |   Terms of Service  |   Privacy

© 2009 FinancialContent Services, Inc.

Data powered by FinancialContent.  All Rights Reserved.   Quotes delayed at least 20 minutes unless otherwise indicated.

None of the information contained on SocialPicks.com constitutes a recommendation by SocialPicks or its users that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. SocialPicks is not responsible for the posts, discussions, and recommendations of the users on the Site. SocialPicks does not provide investment advice. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the website. SocialPicks' users' past results are not necessarily indicative of future performance. Neither SocialPicks nor any of its users guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the website. You understand and agree that you use the Site and Services at your own discretion and risk and that you will be solely responsible for any damages that arise from such use. Before acting on any information contained on the website, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.