I used to own CBG in the SMID accounts, but sold it as the wheels fell off. Lots of regret there. Regret that I didn't sell it a lot earlier! In any case. This stock has been on a tear since renegotiating its debt. Up from a low of $2.34 on March 20 to around $6.74 presently. Now that is a nice move. But with the wheels yet to fully fall off the CRE market, a highly leveraged balance sheet, and integration issues still with Tramell Crow - I'm not sure I would want to enter that trade at this time. There is still a world of hurt to wash up on CRE shores, but I guess someone has to clean up the mess and CBG has the largest position in the real estate services market. The problem is, they drank the kool-aid and will suffer from their debt hubris and acquisition fever for some time to come. With Jones Lang missing today, I'd be a little careful going into earnings tomorrow.
Disclosure: No personal or professional position.
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