Serious investment thinking that doesn’t take itself too seriously.
As we stop having kids, do we still need real estate developers? Regular Thesis Driven readers know that I’m as pro-housing as they come. Home prices and rents in the places with the most economic opportunity—like New York and San Francisco—are a national scandal, and I’m very much in...
In today’s dispatch: banks are lending lessbanks are also generating less revenue, and NIM continues to slide (for now)are Zombie banks good?bank exposure to non-bank lending is...
Many, too many, have stood where I stand. Many more will stand here too. The markets have been casting a wary eye on rising CRE losses – figuring these may trigger a renewed bout...
Bezos, Google's AI debacle, and how constraints rather than resources drive innovation. Money was tight. It’s hard to even imagine it this day and age, but it’s true. On Wall...
Bryan Caplan does not write to be popular. He writes not for causes he thinks are likely to win but for causes that deserve to win. I’ve reviewed almost all of his books: The...
Background: The Hoyt Institute is an invite only think tank based in North Palm Beach, Florida, where industry research leaders and academics partake in a few days of in-depth...
Bloomberg company news continually tells me that real estate shares are hitting a 52-week high. You’d have thought that was good news, and in a way, it is. But it rather masks...
You could buy a skyscraper for a million bucks. I still remember that, probably always will. A friend of mine, well connected in Detroit real estate, telling me how bad things...
After a Bank of England warning in April, you could be forgiven for thinking the whole $8 trillion Private Equity market and the even faster-growing Private Credit market is...
From the beginning of November – when the market decided that the Fed was hinting at rate cuts in Q1 of this year until the turn of the year – the quoted sector rallied by an...