Another value investor

@RealAssetsValue Seems like every year, the “office turning a corner” narrative is recycled. Many sellers and promoters, few buyers.

@Find_Me_Value Comical how bad this stock is performing.

Next deck will be Nintendo $NTDOY 7974 JP. Out in a couple of weeks. (Will edit visual for deck)

@Point72Careers Website team breached risk limits?

@Point72Careers Clicked on your link just for fun...

We help entrepreneurial investors build businesses customized to their processes. Hear from our Co-CIO Harry Schwefel about our track record of developing great talent:

@ReddCinema Kindof like Wonder Bread

Haitians actually eat dirt cookies, they called bonbon tè. Women go and buy sacks of dirt, often on credit, and mix them with a bit of fat and salt 😋

@tsxman Anyone else catch this? Implication seems to be that $HR.UN may pursue another large strategic deal at the end of 2026, presumably that could put the whole REIT up for sale.

$HR.UN valuation metrics keep getting more attractive. Now 60-25-4 (US Class A resi, Canadian industrial, retail) and trading like an office REIT. Hot money guys selling to chase what's hot but I believe patience will pay off big here at some point. Conf call tomorrow at 0930.

@mikepompeo @LTRInvestments United States seeking to have wars on every continent , but yea sure, China is the problem.

I've met with some of the worst guys on Earth - but Xi Jinping is without a doubt the coldest and most ruthless leader I've encountered. We should be under no illusions about his malign intentions toward the US or any power that challenges him on the world stage.

@Mr_Neutral_Man Long cycles for retail apparel.

If I wear your brand, you're toast, I warned you. I'm the Costco dad who pays $35 for Lulu shorts from the outlet. If I like your clothing, you're way past being cool Down from over $300 from this post to $121 today $LULU

@finphysnerd It is looking cheap, but not as cheap as the lows of $DRR.UN, which had much lower leverage and lower G&A. I wonder if there are issues that could cause property opex to spike (eg. expiring tax abatements).

@finphysnerd It was screening at something much higher, I’ll have to do more work on it now.

Would love people's thoughts on Go Residential $GO.u, an idea I'm considering. They own a portfolio of luxury Manhattan apartments at an attractive valuations. Messy financials, but I have them at a normalised yield of around 7.-7.5%. Manhattan is very supply constrained and has

@Scutty Why not build more homes… seems like no shortage of land.

Australians are taxed to death on productive work, then actively encouraged to take on up to 20x leverage just to buy a home, financially crippling their ability to raise families. Policy should encourage family formation, not permanent reliance on high immigration #auspol

@speenhamlander @orrdavid It’s also office space for non lab professionals. And the ”VC portfolio” round-trip accounting is 🚩

@orrdavid @RecoveryTrade Vast vast majority of their buildings are lab office, not traditional office. But as your AI run says, lab office buildings have lab areas but also office areas as lab folks need desks too. The issue is more with lab demand than office demand, as lab office is expensive to build.

@RecoveryTrade Oh, well that's not great.

@orrdavid Even AI dodged the question, not sure how much is really lab space. I also have a gut feeling that the $ARE life sciences VC portfolio is round-trip accounting.

Any real estate guys have an opinion on $ARE Alexandria Real Estate?

@quantian1 @MidwestHedgie Hong Kong is better and with much lower taxes😲

And all they get for those property taxes is a better education system than Switzerland and Japan, what a waste of money.

@souzaj99 Still massively undervalued compared to peers

@RecoveryTrade There was a spike on the b-shares yesterday...

Controversial opinion but I believe that Swire Pacific 0087.HK (46% NAV disc) is way better value vs. Jardine Matheson J36.SG (20% NAV disc).

@askjussi Not a fan of the value dilutive $MDV deal, but $GNL remains cheap, and continues to sell non-core assets at value accretive levels, also slowly reducing office. I don’t mind the share price languishing at $8-9 if they can keep repurchasing.

I don't trust $GNL's management, even after the management internalization and other improvements that they have made. I also think that their office exposure remains a big issue, which is why they wanted to close this deal to reduce their exposure by growing the pie.

@askjussi $ASK.AX

REIT M&A activity is heating up. What is the next REIT to get bought out? Let me know below...

@45WallSt @PinkPoloShorts Listening to Roth on the shareholder calls is painful, $VNO is not a buy-and-hold investment.

"The Monica Lewinsky scandal broke on January 17, 1998, when the Drudge Report published an item detailing the alleged sexual relationship between President Bill Clinton and a former White House intern. Mainstream media picked up the story shortly after, and on January 26, 1998.” The only return shareholders have earned over this sweep of almost 30 years is through the dividend.

Owning VNO has a higher effective tax rate than NYC