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December 17, 2008
Trading The Real Estate Bounce
CNBC Fast Money Final Call
by Lee Brodie
Some real estates shares, including the iShares Dow Jones US Real Estate ETF, rallied on the news of yesterday's unprecedented Fed rate cut...
But Karen Finerman isn’t fooled. In fact she sees a trade. She’s short real estate because she doesn’t think the Fed’s actions have materially changed the commercial real estate picture in this country.
“I’m short Forest City,” she tells Dylan Ratigan on CNBC’s Closing Bell. “(They’re probably best known for the Atlantic yards development in Brooklyn.) They were a development company and that’s not a business model that’s working. And they have a lot of debt.“
Posted by eric at December 17, 2008 11:00 PM