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"Buffett of Canada" Says He's a Big Bull on U.S.


Parsad
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Love this guy and their GGP investment.

 

GGP in bankruptcy under a dollar will haunt me forever.

 

GGP was generating enough cash to keep current on loans, but it just couldn't roll them over. The banks' were incentivized to extend the loans rather than try to liquidate all the malls and occupancy was still around ~90%. Company was generating tons of cash, just not enough to pay off all its loans. Not a big deal usually...unless it's early 2009.

 

I had just started learning about investing in 2008, so I still had no clue what was going on, but this was a punchcard opportunity.

 

 

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