The investing landscape has changed meaningfully over the last 20 years. Gone are the days of calling your broker to buy or sell shares or looking up stock quotes in the daily newspaper. In the modern era, you can invest in almost any asset class, across any global market simply with the click of a…
Author: Martin Kollmorgen
What Does A Serenity Portfolio Look Like?
Albert Einstein was famous for his thought experiments. Mathematical equations were not relegated to the paper they were written on, he actively visualized them in order to fully understand them. Things become more real and tangible in three-dimensional space, and investors can take a cue from the great German physicist when thinking about their portfolios.…
Self-Storage REITs: Heads I Win, Tails You Lose
The self-storage REITs have returned 30% in 2019, riding a wave of multiple expansion driven by a flight to safety within REITs and the broader market. While self-storage is a great business and the self-storage REITs are well run companies, as with any investment valuations sometimes get detached from reality. With fundamentals that continue to…
REITs and the Cycle – A Road Map for Re-Positioning Your Real-Estate Portfolio
You don’t have to look too far in the financial press to find an article about how we are “late in the cycle.” It’s common knowledge that the economic recovery is long in the tooth, as we pass the 10-year mark since the depths of the last recession. But how does that knowledge help us…
Canary in the Coalmine? What Hotel Fundamentals are Saying About the US Economy
One of the un-sung virtues of the REIT market is the wide variety of insights that can be gleaned by closely following REIT fundamentals. The various REIT property types form a sort of spider-web of connectivity between real estate and the underlying drivers of the US economy. For investors paying close attention, there is always…