Bill Ackerman, hedge fund manager of Pershing Capital, has been raising his stake in distressed mall owner General Growth Properties (GGP). I already commented on General Growth’s financial problems in an earlier post. General Growth is trying to stave off bankruptcy by restructuring debt that is due in the near term. Given its financial position there is no fundamental reason to invest in GGP. The stock is currently trading at $1.60. This might ibe an interesting speculative play if they can find a way to avoid bankruptcy.
Make Money Investing The Warren Buffett Way
