Serious investment thinking that doesn’t take itself too seriously.
The capital allocators examine trends in the sector
Well, what a difference a year makes! Certainly when it comes to RICS Redbook valuations! Valuations are down almost across the board as valuers have adjusted to the new normal of higher interest rates, lower availability of debt, and a consequent increase in the cost of capital. It's sad to say...
Originally published January 2021. Real estate distress cycles generally offer rich pickings to investors, but that’s unlikely to happen this time – and here’s why. This article...
Last week, I went to an airport. This was my first time since February 2020 – a period of over 500 days. I felt both excitement and trepidation at revisiting this once...
Could this provide a ‘Goldilocks’ scenario? Economic commentators and central bankers seem at last to be taking inflation risk seriously, rather than assume that current...
FTSE ST Real Estate Investment Trusts (FTSE ST REIT Index) increased slightly from 849.11 to 868.08 (2.23%) compared to the last monthly update. Currently the Singapore REIT...
Surfing a wave of institutional adoption... and liquidity. The best investments are often the least comfortable ones. This is certainly the case with our decision to add bitcoin...
The brasserie next to my office is a classic. A chalkboard shows the plats du jour. The waiters in crisp black waistcoats glide between tables. The corner terrasse catches the...
I love companies that can grow for decades. The best sort of growth reinforces the business model, which in turn makes future growth more likely. Network effects and economies of...
“I have little doubt that with excess savings, new stimulus savings, huge deficit spending, more QE, a new potential infrastructure bill, a successful vaccine and euphoria around...
Originally published in March 2021. Like many readers, I took advantage of the best snow in years to go sledging with my daughters. As Daddy bombed down the hill like Bowser in...