A kinetic war in Europe, inflation at 40-year highs, and a stock market that is down 11.1% from its all-time highs as of this writing. Does anything in your portfolio feel easy or comfortable? Are you smiling as you buy the dip or HODL your crypto currency? There are times for ease and comfort in…
Tag: Quant Investing
Creativity and Flexibility are Requirements in a Hawkish Market - January 2022 Newsletter
After a year of prodigiously sweet returns in 2021, January 2022 was a stark reminder of how quickly the capital markets can change: Bitcoin down -17%, Netflix down -29%, the Nasdaq down -9%, and REITs down -7%. Some of the best performers of 2020 and 2021 got a cold dose of reality. Anyone that thought…
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…
REIT-House Blues: June 2021 Newsletter
By most accounts, the great lyrical poet Jim Morrison was not one to shy away from a good time. His lyrics are infused with Dionysian calls for revelry and enjoyment. We can imagine then that the self-proclaimed Lizard King was probably not one to leave a party early. As he says repeatedly in the classic…
Rocky-like REIT Underdogs For The Current Cycle: May 2021 Newsletter
Nothing in investing hits as hard as the economic cycle. Recessions and recoveries can make or break an investing career. While avoiding a recessionary draw-down can make you a hero to your clients, conversely, losing money fighting an economic expansion can just as quickly tarnish your investing reputation. The cycle is undefeated, and investing against…