Moses Kagan

Our strategy is simply to do what smart families have always done: - Acquire great assets in supply-constrained mkts - Leverage them conservatively - Steward them well - Refinance them opportunistically to return capital tax-efficiently - Hold them indefinitely

@Dirtdog 1000%

Maybe I am old school, but if I spot one of my sons out in the wild in the future I am going to be very disappointed in myself (and them) if I don’t see them: - opening a door for a lady - offering their seat on a crowded bus / subway - lifting something heavy for a lady

@plcfox1 He should! He builds huge, awesome sh*t!

He is trying to deflect why he has such a big ego…

@Romy_Holland Maybe Marilyn Peterson just decided she disliked baseball players generally?

@moseskagan lol man sounds like maybe one of the women got the short end of the stick or something

i know a family with two adult brothers who each got married and had kids, and then everyone involved realized they’d married the wrong ppl and they got divorced and then did a wife swap, or brother swap depending on how you look at it. last i heard they live next door to one another and they are all close friends.

@Molson_Hart "Power corrupts, and absolute power corrupts absolutely"

One of the most interesting questions in government is what I think of as the excalibur problem. There's a sword lodged in a stone and on the stone it says "the person who can pull this sword out of the stone is the rightful ruler of Britain". How can a society find such a person? Most countries give all adults one vote and then they use their votes to pick who think they is good among the votable options. If we could be assured of a person's talent and honesty, we wouldn't need checks and balances. We'd allow them to just do whatever they wanted, because, again, they have the ability and they won't screw us because they are good. Instead of a voting system, we could make the founder of the company which employs the most people in their country president, if they want it, perhaps subject to the approval of those who work for him or her. The idea is to seek out an objective measurement that is highly correlated with talent and honesty. Sometimes it seems like the democratic system doesn't select for that as much as it selects for the ability to attract attention and persuade, which is very different from governing well.

@blueprintsmb22 I know a guy who works as a chef for a family like this and makes like $300k (I was like "how could a chef be worth $300k?" until I tried his cooking and then I understood and became very jealous of the family)

Wonder how big a bonus a role like this gets

@jamesonhaslam I bet he was very persnickety about, like, margin widths

one of my college professors was on the California Coastal Commission I had no idea what that meant at the time

@Jack_Raines Thanks for this

Anytime someone makes a Jewish conspiracy theory tweet I’m reminded that the Jews are lowkey GOATed. Seriously punch above their weight on population size vs. economic and socio-political impact. Best to ever do it. Shout out King David.

@blueprintsmb22 @OneManLBO Co-sign all of this Another observation I have is that, when you go back, you end up liking almost everyone, even the people you didn't like that much in college Maturity has a way of making us kinder and sanding off our roughest edges

My thoughts on attending @OneManLBO 's 15 year reunion at Princeton this past weekend and having gone to my 5th and my 10th reunions at Brown below (need to go back at some point). - There is alot of talk of the ROI of college given the cost and still hard to underwrite impact of AI on many white collar jobs. Sure, if you just focused on excel math returns, it may not make sense to go to college but seeing the Old Guard Princeton alums walking with their adult children and grandchildren wearing tiger tails was pretty neat. It's clear college was a very special time for many where they had wonderful memories and made great friends. When you are in your 80s, how many events are you willing to get on a plane or a car to walk in the rain over a long weekend? Many made that choice yesterday. That's neat - If you were the guy with the chip on your shoulder and were a complete nerd in college and anti-social and have made generational wealth, nobody will care when you show up at reunions. You were a nerd then and you still are now despite your balance sheet. We're all laughing with the class clown who was on the varsity baseball team who just shattered his knee cap falling off from dancing on the bar (true story) - 5th reunion is a non-event in terms of seeing people from your class in that everybody is more or less the same. 10th year (the last reunion I attended at Brown) is where you start to see the full impact of decisions post college both physically (some pple glowed up, others fell off terribly) and career wise as this was the first reunion where classmates were mentioned in the WSJ/Forbes, etc - Life is messy. The stories you hear about people you knew intimately or even classmates you barely knew will blow you away. Some insanely terrible/awful stories that will make you wonder how life can so cruel mixed with some incredibly positive stories as well. It's fun gossip for a few hours over drinks or coffees, but these stories are forgotten on Tuesdays as we get back to the realities of our lives - Nobody cares / is thinking about you. In the same vein as the point above, the reality is everybody s dealing with their own shvt. I remember before my 10th year, my buddy was embarrassed to go as he had just gotten fired from his tech job. I told him literally nobody would care and that everybody would be sad if he didn't go. He had a blast and after telling people he had just gotten laid off, numerous people reached out within their network to help him find his new job. Careers were barely discussed over the weekend. Projectile vomiting on the Main Green at 10am on a random Monday in front of horrified campus tour or having your picture taken by the Providence Journal with the baby lamb you purchased as a pet for Spring Week (University forced him to give the lamb away to a nearby farm as I guess this was not allowed) were aggressively discussed - The first few reunions are measured by who was the funniest on the dance floor, who had the funniest jokes/stories or wildest early career stories. By the 10th and beyond, they tend to be measured by who seems have their lives in order the most with those married with kids and a stable career or business envied the most - Reunions are fun. I haven't been back to Brown reunions since my 10th and plan on taking my family in the near future Below is the beginning of the 1986 Princeton class part of the parade (we were hoping Bezos would walk but he was not seen sadly as this was just a few seconds of the full 6 minute walk where Bezos was not seen)

@Keith_Wasserman How sad. He was a kind and interesting man. Sorry for your loss

The other day my mentor and partner in multiple deals, Sam Freshman passed away. I remember fondly our monthly meetings we would have for years learning the business from this legend. His book, Principles of Real Estate Syndication is the number one real estate book I recommend to people trying to get into real estate investing. Many times in the early days of Gelt, Sam would lend us funds to close deals if we were short. He always gave us the best advice. I will miss you dearly Sam. legacy.com/us/obituaries/…

@TeamNithya She's been the chair of the housing & homelessness committee for 3 yrs

@moseskagan Our small business platform includes citywide rapid response for homelessness, sanitation, and maintenance along commercial corridors. Nithya also has a feasible plan to eliminate encampments citywide by the end of her first term.

Nithya will do anything to help your small business, except clear an encampment right outside its front door

@acher_2 She's been the chair of the housing committee for 3 yrs

@moseskagan She seems to have clearing encampments be the #1 priority of her homeless platform

@CaryHawkins_ Admire you for doing it for all of us!

As an aside, I believe those with a touch less of the zealotry & obsession I had fare better. These jobs are hard to get, high status, and your life revolves around a very noble yet incredibly grave task. It's easy to lose perspective. It's an amazing job, but it's still a job.

Yup, all types. I knew in 9th grade I wanted to be SEAL and then read literally every special ops book at the library, and there were others like me 🤓. I have a friend who thought he signed up for "survival training" and was surprised to find ~0 survival training, but lots of yelling and cold water. (Not a nerd, he's a mixture of T.E. Lawrence and Hunter S. Thompson) Another friend joined the Navy to be a diver because his friend was. He was an All-american swimmer so they suggested he try out for SEALs and he said "sure, why not." And when I joined in the Mid-2000s, there were still patriotic New Yorkers that were deeply affected by 9/11 and wanted to take the fight to the enemy. All types.

@spencerpratt My parents, who live in Echo Park, love that place, but had to stop going, bc the neighborhood is so scary

Langer's is an LA icon. Despite decades of crime & blight degrading MacArthur Park, Norm Langer has held strong, employing union workers, & enduring. I'm proud to have Norm's support. We owe it to this great man to clean up Mac Park and make LA a place where restaurants thrive. AMAZING sandwiches!

@justinAB_SF That is a bad faith reading of my post I have built housing here and I operate a lot of it I am strongly in favor of making housing easier to build here. However, if you want private capital to fund the development of rentals, you need to make them tolerable to operate

@moseskagan So we shouldn’t build more housing and infrastructure then? Austin Texas recently built a ton of housing bc of the type of reform Nithya is proposing meanwhile Spencer is a fucking NIMBY.

@mann_sallyGenX Also completely insane

@moseskagan Or remove the pop-up tables of illegals selling crap on the sidewalks in front of businesses in Koreatown.

@justinAB_SF I know all about her plans, I assure you They involve trying to convince private investors to build housing in a city whose municipal government is determined to make it extremely difficult to operate that housing profitably

@moseskagan Mayor Dan Lurie in sf has done it with even more expensive real estate. It’s not giving people free housing it’s at a base level opening up more shelters while putting them on a path. Notably Raman also has a plan to reduce housing costs while Pratt does not

@justinAB_SF Dude she is nearly alone on the council in refusing to use existing law to clear encampments She prioritizes the interests of vagrants over those of people who play by the rules Those are the facts

@moseskagan Right but again I’m not saying don’t do enforcement and neither is Nithya. She’s just saying you need to pair it with housing availability and infrastructure. Spencer has absolutely no concern for long term homelessness

Also: It is f'ing insane to house people like this on the ~most expensive land in the country, both bc it is allows us to house many fewer people w the same amount of $$ and bc it is unfair to the working people who don't get free $1MM condos near the beach. We should absolutely build more shelters inland where the land is very cheap.

@justinAB_SF There are so many examples of people being offered shelter and refusing You can find them in almost every interview with actual homeless people