Serious investment thinking that doesn’t take itself too seriously.
With a desire to both quantify and limit various aspects of private real estate funds’ risk, funds’ documentation is written so that risk is unbundled and...
One of the first things that we learn in life is the alphabet. Through it, we form words and are able to communicate with one another using a common...
In engineering, noise is a disturbance around a signal and engineers have become good at extracting signals from the noise. In investing, noise comes in many forms and...
Since the financial crisis in 2008, interest rates have been low and borrowing costs for commercial property similarly low. With such low rates, relatively high yields...
A famous quotation, probably erroneously dedicated to the financier J. P. Morgan, is that, when asked for an outlook on the stock market, he replied, “it will...