Co-produced with Beyond Saving
Malls have been beaten up for years, driven to lower lows. With heavy shorting and a bearish thesis of the "retail apocalypse" driving shares lower. Starting in late 2016, mall share prices started declining. While there have been some significant rallies since then, there was a strong bias towards selling. Clearly, since 2017, the bear side of the trade has been in control.
We are value investors, utilizing our Income Method, we start buying when the long-term value becomes attractive. Sometimes, that means we don't catch the bottom. That is