Serious investment thinking that doesn’t take itself too seriously.
In the last Property Chronicle, we considered a simple conceptual framework for assessing market mispricing. This involved comparing the market cap rate (K) with a cap rate derived from our analysis of its components. The latter comprise a nominal risk free rate (RFRN), a risk premium (RP), and...
There are a number of reasons for the current litany of gloom about China, but the actual state of the economy is way down the list. This is primarily because narrative and...
It is one of the most “identified” structural failings of the UK economy. A shortcoming, we are told, that lies at the core of why the UK will see no growth next year, and indeed...
The younger generations seem increasingly crazed. A worrying proportion of the young sympathises with those who launch terror attacks against Israel, supports the...
In recent years, there has been a significant push for diversity and inclusion in various industries. The real estate industry, like many others, has taken steps to ensure that...
On 10 March 2023, Silicon Valley Bank failed, triggering fears of a new financial crisis. Over the next three weeks, US bank share prices fell by 14% and regional banks fared...
It’s hard not to be infected by the brisk back-to-school mood that arrives with autumn. The French have a word for this time of new notebooks, sharpened pencils and squeaky...
"The nature of Monkey was... irrepressible!" The Chinese Economy looks awful. I challenge readers to find anything positive written about it in recent weeks. A few years ago – in...
My bank – a global behemoth with Asian origins – refused to honour my transaction. This was despite multiple attempts, and an agent on the telephone telling me everything was...
In the summer 2023 issue of The Property Chronicle, we discussed the gathering stranded asset storm in commercial real estate, with one factor being the impact of energy...