Serious investment thinking that doesn’t take itself too seriously.
Investment themes and trends
The debate over property valuation methods has persisted for decades, often relegated to technical discussions among specialists rather than receiving the strategic attention it deserves. Thirty years after the Mallinson Report first identified the need for improved standards in real estate...
HR isn’t here for you. That might sound harsh, maybe even paranoid, but it’s the truth you learn after your third, fourth, fifth year in the job. After you’ve been gaslit by...
On the surface, single tenant real estate is the most straightforward asset class out there. As the name implies, each asset has a single tenant operating under one lease for the...
The rise of private markets has been supported by the perceived existence of an ‘illiquidity premium’ - or the extra return provided to investors as compensation for holding...
Just a little grab bag of charts, asides, and riffs on themes. YouTube is under-monetised Random Walk made the case for Google as a $2T company, even assuming search is a...
Dogs have become a plague on urban life. Don’t get me wrong, I love dogs. Growing up in rural Arkansas in the 1980s and 90s, our family regularly adopted abandoned hunting dogs....
Analysing American economic policy isn’t that interesting these days, except perhaps as a grim spectacle. So, I’ve been thinking a little about Chinese economic policy. China’s...
One area of seeming bipartisan consensus in America over the past decade is the idea that free-market economics — or “neoliberalism” — has failed, and that our economic system...
I didn’t know The Derby was on Saturday until the next day when I spotted a newspaper montage of flamboyant fashion photos of some who had made it to Epsom Downs. Too late...
And it was awesome. Random Walk is interested in s-mid caps that stand to benefit from an increase in the secular demand for energy, with a bias towards natural gas, given that...