Bill Ackman Is Wrong On General Growth — Malls And The US Consumer Are So Screwed

Hedge Fund manager Bill Ackman recently made a presentation arguing a bull case for distressed mall property owner General Growth Properties. In it, he made some surprisingly bullish arguments about the future of the mall, and the revitalization of the US consumer.

Well, there are two sides to every investment story.

Hovde Capital — via Market Folly — has made a presentation arguing against General Growth, against malls, and against the US Consumer.

Hovde’s view is somewhat conventional wisdom — the consumer is toast; there’s still a lot of deleveraging left, etc. — but they’re going up against well-known Ackman, so it’s interesting.

Check out the argument >>

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See Also:

• Bill Ackman: Here’s Why I’m Super-Bullish On Shopping Malls And The US Consumer