Serious investment thinking that doesn’t take itself too seriously.
We tend to focus on which country is top dog, but perhaps we should think about debt and compound interest as the apex predators in all this. When President Trump suspended tariffs on the the 9th April, he pointedly left the new 145% tariffs on China in place, and in so doing, revealed the...
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?...
The debate about explicit Discounted Cash Flow (DCF) dates back at least as far as the Mallinson Report in 1994. This debate has been rekindled by the RICS’ “Independent Review...