Statement is here.

This morning I wake up to see the following analyst coverage of Prologis (PLD):

Oppenheimer initiates (emphasis mine) Prologis (PLD) with an Outperform, Target $50.

Initiates with an outperform?  I am so baffled by this one that I really don’t know what to say.  What a horrible assessment of this company.  How many of the entities entities were you able to analyze?  This thing is way too complex to even try to assess a value other than the fact that the path of least resistance is zero.  Is this analyst a CFA?  If he is, he has just discredited that designation.

RBC Capital downgrades PLD to Sector Perform from outperform.  Target lowered from $60 to $33.

Sector perform?  Commercial REITs are the most toxic sector in the universe right now.  The same paper exists in the commercial market that does in residential.  The problem?  Commercial paper is more leveraged.  FAR more leveraged.

Deutsche Bank downgrades shares to Hold from Buy.  Target lowered from $58 to $36.

Hold?  Don’t buy it but hold it?  Word to the wise: If you don’t want to buy something, you shouldn’t want to hold it.

Are any of these analysts reading the financial statements?  Are they reading the same ones I am?  How can they possibly think that the common stock of this company is survivable?

My target for this stock remains the same.  0.

For a thorough analysis of this company, see Stripnomics.

Peace

The most scripted way to tell the investing public that you are doomed to fail is by missing earnings AND raising your dividend in the same day.

That is exactly what Prologis (PLD) did today.

Guess who else did that in early May of this year.   Yep, that’s right AIG.  PLD rhymes with AIG and they both share the same path of least resistance.  0.

Peace

Dear Jim Cramer,

Are you engaging in Negative Progression?  How long can one “pick away” at the rubble?  Haven’t you been telling people where the winners are for quite a few years?  How have your results been?  If you “pick away” at rubble and the rubble just becomes more rubble then maybe you can buy more time in the rubble pit.  Through the use of leverage of course.  Remember, when leverage is involved it doesn’t matter about the rubble anymore.  Why?  Because leverage turns your bankroll into rubble.

You work for GE.  GE is a hedge fund.  Are you talking with Jeff Immelt to let him know that General Electric (GE) is likely to suffer from gambler’s ruin just like all the other hedge funds out there?  Maybe not, you’re busy selling Scottrade ads on your site.  Or better yet, ads about oil fields to buy.

Can I make some Mad Money by clicking on this ad that I saw on your website?

$

Peace