What was 2021 like for your portfolio? Was it a year filled with calm nuanced data consumption and analysis? Or was it a year filled with panic and freakout? Did you bomb it down the fairway or shank it into the water? 2021 was replete with reasons to panic and sell stocks, buy bonds, or…
Author: Martin Kollmorgen
Did You Panic? You Should Think Again - November Newsletter
PANIC! A NEW VARIANT! SHUT IT DOWN, CLOSE IT UP, RETURN TO YOUR BUNKER! Did you receive this message on November 26th? The stock market was certainly sending it. Hotel REITs fell 6.1%, Regional Malls fell 5.0%, small cap stocks fell 3.7%, even the bulletproof Nasdaq 100 fell 2.09%. Within the span of 48 hours,…
Why REITs Have Not Reached Their Peak - October Newsletter
Navigating the REIT market can at times feel like climbing the face of an 8,000-meter peak. Sometimes conditions are perfect, and you can move rapidly up the mountain. Sometimes the wind is howling, or the slope is primed to avalanche, at which point you have to turn back. To make it to the top, however,…
A Brave New REIT World - September 2021 Newsletter
Investing requires imagination. We search history for a detailed map of the way ahead, but the directions that we find are never fully accurate. The investing past never truly repeats itself and the market is constantly creating new narratives and breaking into regions hitherto unexplored. The REIT market is no exception. Conventional wisdom one day…
Free Your Mind - Serenity July/August Newsletter
Very rarely are REITs a trendy asset class. Investors tend to think of them as boring bond proxies best used as a fixed income substitute or as a defensive portfolio allocation. In the depths of the COVID crisis in 2020, most investors saw few reasons to allocate to REITs. Why invest in real estate when…