Serious investment thinking that doesn’t take itself too seriously.
Discounted cash flow (DCF) modelling seems to be emerging as a mainstream valuation procedure in the United Kingdom. The November 2023 RICS paper “calls for…greater consideration and, where appropriate, adoption of explicit discounted cash flow (DCF) methods for valuing [real estate investment]...
The best thing about entrepreneurship is you’ve got no boss. The worst thing about entrepreneurship is you’ve got no boss. Boss is a terrible word. Mentor is a better word, but...
There's no shortage of money, and no surplus of people . . . if anything, there's a shortage of good productive things to invest in, and it's unclear what rates have to do with...
Trump's signature policy would frighten Americans without improving the immigration situation. “The crops are all in and the peaches are rotten/ The oranges piled in their...
Latest foray into 'AI: Bubble or Not?' and it's mostly assuring Cisco the warning parable, a recap Nvidia is actually pretty cheap, when you think about it Capex spending is just...
I couldn’t possibly write an article about my real estate education without special mention of my father, who was educating me before I even was aware of it. Michael Marx may...
For decades, there has been a debate over whether property investments serve as an inflation hedge or they are instead a “perverse” hedge. During the recent low inflation era,...
Rents-not-rising, but some markets are (a lot) better than others, a tale of four regions, good and bad news from CMBS, Bye-bye biotech, hello loneliness (reprise) Rents are not...
A few weeks ago, I was arranging a meeting with of his time between London, Dubai and Riyadh, this international man of built environment mystery isn’t well suited to a...
Powell says "enough" and there are some interesting questions about what happens next, but I can think of at least one camp that's very, very happy. Rates go down, and then what?...