Centros business model was not sound. Have you missed the last...

Centros business model was not sound. Have you missed the last year? The company was designed for a bull market and showed no regards towards the fact that historically markets fluctuate. If, like you are suggesting, you look back at centros recent past, you'll only see that a business model designed for a bull market can do well in a bull market, which is hardly surprising.

Having said that, I think that they are excellent managers of retail properties and thus I think that once they restructure and develop a sustainable business model, they will survive and prosper.