And I too have personally seen the Centro properties in the states. Obviously WDC's U.S malls are better quality, however they have targeted the discretionary market, which is being slaughtered as we speak.
My whole angle here is that I dont think WDC tell it like it is to shareholders, which stinks. They are not reporting gearing correctly, their cap rates are way too tight, they are being secretive on their loan covenants and their outlook is way too positive on their occupancy levels.
This means the stock could take a big dive if/when all this if finally revealed. By no means is WDC like another Centro (and so WDC will survive) but that doesnt mean it wont be a massive underperformer
WDC Price at posting:
$11.65 Sentiment: Sell Disclosure: Not Held
