Molson Hart

Is this thesis as follows: 1. People think CBl and wpg are the same and thus $cbl is dropping 2. $wpg income comes from high end malls now anyways 3. The way $wpg has structured their debt, if their tier b malls fail the lenders won’t be able to go after their tier a malls?

$WPG doesn't have "high end malls". It has a few nicer open-air (outdoor) shopping centers along with its decaying B-tier enclosed malls. WPG's sales per sq ft for its malls are on par with $CBL around $400. Same biz, same NOI decline rate.

When I was on their website every mall on their site was trash, fwiw

It's crazy how few investors even look at what they're invested in.

Is that for real? Like people don’t look at the malls? They just look at the numbers? Financial statements put me to sleep.

Both are important, the hard part is qualitative. Computers already keep quant stuff reasonably in check. Most people just see a dividend yield, I think. Some guys focus entirely on story which is a trap, too. But the financial side should only take a 15 minutes.

In your opinion if I spend 2 hours contemplating a stock’s qualitative comparative advantages, how much time do I need to spend looking at the financial@minutia to do an equally good job at that in a way that allows me to make a purchase?