In what is turning into a public analytical clash, hedge fund firm Hovde Capital Advisors has issued a counter-argument to the recent rebuttals. If you're just now jumping in on this, here's a timeline with links to the various presentations on the bullish and bearish cases on emerging-out-of-bankruptcy mall operator General Growth Properties (GGWPQ.PK). No matter which part of the argument you side with, you have to agree that a public debate like this is a great thing to see. This is THE definition of 'two sides to any trade.'

Here's the timeline: