Old School Value

Well GGWPQ isn't a financial stock so no worries there.

I first started following it because of Ackman. Started reading up on what he was saying and the situation of the company.

To put it briefly, GGP was in trouble amidst the highest pessimism with the subprime. Everyone was predicting that the mess would spill over to the commercial real estate and the result would be even worse than home real estate market.

I looked at a few of the properties it owned, the location, who were renting etc and the statements clearly show that GGWPQ is a profitable company but they just couldn't pay back their debt. Ackman was right that it was a liquidity issue.

So even in bankruptcy, I figured that equity would be worth something and bought a small position. Worked out well but there is also a lot of optimism in it at the moment which is helping it to keep going up.