Coach d, I have said here many times that I do not use the markets to make money. I will go for a ride when indexes look likely to do better than I can do otherwise, but I don't use them as you do.
Not only that, but I have, in general, expressed approval for your strategies and congratulated you on your successes. The single criticism I have had is that in considering single stocks, IMO you tend to veer too far into business operations as an end, rather than into what they mean to the share price.
Regarding Macy's, I said that as a retail entity, they suck. And they do. Their RE holdings are a different animal altogether. Yes, let's look at Sears. Same deal. As a retail entity, they suck, and have for some time. They are alive, but it is despite their retail flounderings. Macy's is an early/mid-stage Sears.
You seem to have read that retail business commentary as an indictment of their entire business. They do have "some" value, but they need to know how to make it work for them properly, and I am at this point unconvinced that they can do so. Wholesale change is required, and now. As for "unlocking a huge store of value", that is sales speak. I know, I do it all the time. Without a detailed explanation of how that is to be done and in what time-frame, it is only so much b.s..
Also, commercial RE valuations are sketchy, and you shouldn't rely on those valuations unless they are held by an unbelievably well-capitalized business, or a business that specializes in management of precisely the kind of property they own. Commercial RE value is absolutely, totally, and completely dependent on the particular tenancy that can be achieved.
Macy's future is anybody's guess, but IMO the one thing that can be said for sure is that they retail business sucks.
Regarding "the markets", as you know, there is a wide variety of instruments that are available. You have done well with your commodity shorts, and I not only agreed with those positions, but I also congratulated you on your success. If you had followed my explicit suggestions, related to the CAD and the TSX, you would have made much more than you actually have. Makes ME wonder how much YOU actually know about the markets. (I don't actually mean that, I just want to demonstrate how unfortunate it is when said.)
It's not worth coming here and disparaging anybody for having different knowledge regarding the same subject. I take my knowledge and use it differently than you use yours--you choose to buy Macy's, I choose to do something else, and not buy Macy's. What you seem to overlook is that we can both be right in our (different) calls. The general case is the same, on a larger scale: at the moment, I use my knowledge to not be in the markets and to do other things, whereas you use yours to be in. And we have both done well.
If you want to criticize anybody, criticize one-trick pony blowhard know-nothing egomaniacs like Flagpole. (laughing at myself, in anticipation of the obvious trolling responses) He must be doing EXTREMELY well at the moment. Maybe he should go on a Macy's buying spree!