I built a position in Tangers (SKT).
Earlier this year, anything that was associated with retail got pounded. Why? Well, of course, Amazon was taking over the world! Has it happened? No. Will it happen. Probably not.
The same thing was said years ago with Walmart. Sure, Walmart built a significant presence, but it didn't take over "lock stock and barrel"!
Never forget there are always counter moves to moves, just like in sports. I played Judo for a long time. There were always players who had moves that people thought were unstoppable. Well, for every offense, there is a defense and counter move. Business is much the same.
Whether SKT will rise to counter their competitors moves will only be known with time, but I do think it represents a buy. After all, they are in the "outlet" business. I think they have been preparing their leverage to counteract anticipated higher interest rates.
Like sports, timing is everything!
