Maybe A WMT Fund Was A Better Idea

03/05/09 12:23PM EST
I’m torn as to which datapoint from retail sales day is more relevant. A) The fact that the 9.1% spread between comps at Wal*Mart and Target is running at the highest 3-month rate since 1993. Or B), the conjecture from ‘people close to Pershing Square’ that despite a 93% decline in Ackman’s Target Fund since its ’07 inception, he has enough cash to pay the "modest" redemption requests it faces without selling TGT off.

I’m not going to go there – that’s his business…but I will say that WMT still looks like a name to stick with here. I struggle to find a fundamental reason to buy Target.
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