Alexander's Buried Treasure

New York department-store chain Alexander's is one of the market's big losers. Its stock traded as high as 77 in 1988, after real estate developers Donald Trump and Steve Roth each acquired 27.2% of the company's shares outstanding. But the recession plus New York's real estate bust have put the company in the red since 1988. And Trump's financial woes have helped clobber the stock, to 30 from 57 in 1990. That's enough to scare away investors. But some smart-money players have been buying recently.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.