Mudrick, Shorting Malls, Says Drop in Retail Is ‘Forever Trend’
- Investor targets securities back by loans of mall opeators
- Says online shopping hurting retailers like Macy’s, Sears
Jason Mudrick, founder and chief investment officer at Mudrick Capital Management, discusses the issues plaguing the retail industry, as he sees the potential for 50 retailers to file for bankruptcy this year. He speaks with Bloomberg's Erik Schatzker on 'Bloomberg Daybreak: Americas.' (Source: Bloomberg)
Jason Mudrick, whose $1.6 billion Mudrick Capital Management specializes in distressed investments, says he’s betting that the struggle among retailers is here to stay.
“This is a forever trend,” Mudrick, whose Mudrick Distressed Opportunity Fund gained 38.7 percent last year, said in an interview on Bloomberg Television Monday. “When you think about how things are going to look 10 years from now, or 20 years from now, our parents will be dead, our kids will be adults -- you think more people are going to be shopping online or less? This is the Amazon effect and it’s here forever.”