In light of the news coming out of the bond market recently, I have been thinking about how the numbers behind our deals will change in the event of a recession. Obviously, the ideal scenario for us would be: Interest rates decrease; Rents stay the same or continue to rise; and Prices for assets decrease.
Los Angeles is in the midst of an un-precedented housing shortage. All over the city, there are vacant, obsolete commercial buildings. City law prevents these buildings from being easily re-purposed for residential use, due mostly to parking and set-back requirements. Yet the city waived these requirements for re-purposing of obsolete commercial buildings in specific Adaptive
Am in the process of going through Carol Loomis’ Tap Dancing to Work: Warren Buffett on Practically Everything 1966-2013, which is spectacular. Have taken away two nuggets which are relevant to our business, one great and one not-so-great. The first comes in the form of a comment Buffett made to a bunch of MBA students,
Last week, a fellow investing geek and I journeyed to Columbia, MO to take part in the inaugural Capital Camp, a three day meeting of vaguely weird people like us. Aside from various tornado-related travel snafus, the trip was excellent. It turns out there is a small but vibrant community of finance geeks, mainly to
Probably the most important job for the leader of any organization is to establish and communicate a simple strategy for that organization. Maybe that’s easy for other leaders. But I like to “Hamlet” things… go back and forth, see the positives and negatives of different courses of action, and generally fail to be decisive. So,