Jeffrey Pierce’s Patience Wearing Thin With Cedar Realty

Is Snow Park Capital hedge fund founder Jeffrey Pierce sitting on top of the counter-trend trade of 2018? With the headlines warning of the Amazon Apocalypse, Snow Park’s stake in Cedar Realty Trust Inc (NYSE:CDR), pegged at 6.4% of the portfolio in a 1st quarter 2017 report, is a bet on retail malls that might be immune to Amazon but have fallen in value nonetheless. The problem is Cedar's underperformance relative . . .

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