I had an enlightening chat with the CEO of a listed real estate company today about their growing opportunities. They target shopping malls owned by non real estate professionals, typically, developers whose core skill is getting the permits and building, but then can't run the mall with maximum efficiency.

So, part of his job is going to these guys, who might own one or two malls, and start whispering all sorts of doom predictions and forecasts, which are all more believable because he's the main guy in the sector. Finally, he says, "It's time to sell and take profits." Guess what? He then proceeds to buy from them, increase cap rates and make a nice buck.

Mmm…I think I know somebody who does the same thing. Coincidence? Oh, and his stock? He's buying, thank you. 


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