Serious investment thinking that doesn’t take itself too seriously.
Recent European valuations data from MSCI for Q2 confirmed that capital values are still falling, but at a slower pace than they were last winter. This raises the question as to whether we have reached a turning point in this downturn. Our view is that European commercial real...
Investment pouring in from the south hasn’t yet brought down northern England’s higher yields. It has been widely reported for several years now that rental yields are...
To counter new rules on gating amid concerns over illiquidity, funds are holding higher levels of cash. But does this really make sense? As we edge towards a Brexit resolution...
After property tycoon Charles Rudd and his CEO Nick O’Keeffe are drowned in a sailing accident in Liverpool Bay, insurance investigator William Rohm is sent north to sign-off...
The Gloomy Outlook for Returns & Pension Funds This research note was originally published by the CFA Institute’s Enterprising Investor blog. Here is the link. SUMMARY The...
Human psychology can have a big impact on decision-making. We make cognitive errors on a routine basis by using rules of thumb and over-simplifications. We follow stories rather...
It wasn’t just Jeremy Corbyn and the Labour Party that lost the 2019 election – fiscal conservatism and proponents for small government took a hammering too. All the main parties...
The real estate industry has a lot to learn about human behaviour and happiness: dissatisfied occupiers won’t stick around. Richard Thaler, the behavioural economist,...
Since last month’s general election, there’s been much talk about different types of constituencies, how they voted, and what the geography of party support tells us about how...
Banning Airbnb investor units, as Boston has done, reduces market values by up to 40% – but should other social goals dominate? Recently Boston decided to ban Airbnb-type rental...