Ulti

https://www.cnbc.com/video/2023/04/27/the-story-around-commercial-real-estate-isnt-what-people-think-says-cbre-ceo-bob-sulentic.html Maybe worries are overblown?

https://www.goldmansachs.com/insights/pages/offices-in-major-us-cities-are-the-most-at-risk-in-commercial-real-estate.html

And dont forget , currently approx 20% BRK

There's been a lot of discussion about the possibility of "de-dollarization," or the idea that the world could move away from using the dollar as the de facto global reserve currency. Some of this desire makes sense. Not only has the Federal Reserve been hiking rates at the fastest pace in decades, which puts economic pressure on other countries through links to the dollar and US trade, but sanctions imposed on Russia have also made some nations more wary of relying on US financial assets and infrastructure. And in BRICS countries (Brazil, Russia, India, China and South Africa), there seems to be growing appetite to usurp the dollar’s hegemony. Of course, we've seen this kind of talk before, yet there has been little change to the dollar's special role. So is it different this time? On this episode, we speak with Paul McNamara, an investment director at GAM and a veteran of emerging markets, about what's driving this renewed clamor for de-dollarization. https://podcasts.apple.com/us/podcast/why-the-desire-to-move-away-from-the-dollar-is-getting-real/id1056200096?i=1000610831561 Interesting take on how difficult it would be for china to obtain reserve currency status among other things

https://markethuddle.com/podcast/the-convenient-recession-guest-vincent-deluard/ Interesting take, listened to the 1st hour. He looks at the global macro... Sees current positive growth in Europe and asia. Measures things like income tax reciepts, state coffers in 2023 to conclude no recession this year...

https://www.costar.com/article/2038198136/blackstone-raises-304-billion-for-largest-ever-real-estate-drawdown-fund Gearing up

https://www.wsj.com/articles/miami-housing-market-cools-but-is-still-the-hottest-around-3928727a Go Miami

https://www.foreignaffairs.com/ukraine/russia-richard-haass-west-battlefield-negotiations good article on possible endgame

https://podcasts.apple.com/us/podcast/lessons-from-silicon-valley-bank/id1521551570?i=1000609347904 I like howard marks memo's ... Last 5 minute discusses CRE's and commercial bank exposure

Shouldn't be a huge surprise - these things are massive and almost always delayed. Even the Gorgon LNG project was massively overbudget Sounds similar to Plant Vogtle in Georgia that just opened.

Interesting view from G-7 on Natty Gas ( from Javier Blas… Bloomberg)

Good luck with the castle walls... This is just a very small aspect of the myriad of problems in the field of adult mental health: https://www.msn.com/en-us/health/other/adult-adhd-is-the-wild-west-of-psychiatry/ar-AA19RCMo However I wish to bring up a few points about under 18 mental health/ sexuality etc. ( And please realize I come from a medical background of 40 years and ,though not an expert, have seen all these issues up close and have dealt with the experts many many times). 1- To me the #1 problem is the advent of social media and the lack of easy parental control...As a mom or dad, I should be able to click a button , review post and generally be aware of my child's social browesings and communications....Monitoring is way to difficult and needs to be corrected. While sexual issues have always been around, the speed and prevalency of access to info ( both real and misinfo ) is astounding. 2- There has to be a balance of acceptance and right to exist vs protecting my child .... For example , My kid's in 1st grade and sees little Johnny has 2 moms... No fuss is made and no big deal (we've grown as a society)... Cali passes out memos to 1st graders talking about transgenders and their rights ( I was told this really happened, who knows )...Not cool..Having billboards promoting call xxx-xxxx for sex ( and Ive seen between 2 men 2 women and hetero) not cool....My 8 year old saw this 1 day in the past and wanted to call.( and I wont talk about the jesus billboards haha). Many ways to handle (sex ed in 6 grade etc) but I wont digress. 3- Get rid of these extremest politicians on both sides who's only purpose is to stay in power and make money ( both sides party together at night and call the American people suckers ). Total transparency in money donations, Revoke Citizens United vs. FEC. Empower rational moderates who can look at these issues ,compromise and help solve problems ( yes I know.. fantasyland). I could go on and on.. I just hope no parents here has to deal with suicide ideation ,depression, anxiety and a myriad of other mental health issues many kids today are going thru.... It totally sucked the times I learned a young one I personally knew, struggling with mental health \sexual identity\etc. , took their lives... Or the struggles parents and kids go thru getting help.( And its a very long journey). Compassion is a wonderful word.

Relationships do change.....Who would have thought we would be allies with japan and germany ? While I despise President Trump (as well as President Biden) for a variety of reasons... he was totally correct in calling out Europeans on lack of defense spending and too much reliance on the US. I just don't see that changing in the current economic environment. I also think that if the economy tanks , it will be much tougher for the American public to support the war.

https://noahpinion.substack.com/p/europe-is-not-ready-to-be-a-third interesting substack on how Europe is diminishing in manufacturing, defense and a host of other areas.

Buy AIV for 15-20 haha

There is that but the PE are buying well established businesses...if owner and staff remain; more difficult for a solo\newbie to compete.

https://www.cainwatters.com/digitalblogs/sell-dental-practice-vs-private-equity/ This is a decent general based article that can pertain to all medical\dental\mental health offices.Most of the times, at least the deals that I've seen , your swimming with sharks and the #'s\ time commitment to continue practicing don't add up (occasionally it does ). If your like me and ran a solo practice for 40 years...its a very relationship driven business ( you always have your DR hat on 1st ). For a variety of reasons which I wont go into; I gave my practice to a younger Dr. with lots of honesty and integrity. I might have financially come out poorer by not selling...but i sleep great knowing my patients are in very good hands

They are like cockaroaches…. Burrowed their way thruout dental / medical / mental health( residential, ioc, php)….they leave a pathway of destruction in their wake and do nothing for healthcare.. by the time I retired from practicing, I would say over half of the Dr’s I knew had sold out to PE…. Via a lump sum combination with having to Ramon in the practice for x number of years

https://cre.moodysanalytics.com/insights/cre-trends/q1-2023-preliminary-trend-announcement/

https://www.cnbc.com/2023/04/13/bundesbanks-nagel-energy-crisis-is-solved-german-economy-is-safe.html fameous last words?

https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/alt-new/pdf/core-real-estate-trust-fund-1-termsheet.pdf looks like the gold rush is starting

https://nypost.com/2023/04/12/more-than-10000-new-yorkers-moved-to-florida-in-2023-so-far/

LC on top of all that getting thru local zoning greasing palms etc….sounds like an extremely difficult situation

https://www.semafor.com/article/04/11/2023/leaning-towers-office-building-loans-are-looking-shaky

https://podcasts.apple.com/us/podcast/what-commercial-real-estate-stress-means-for-banks/id1056200096?i=1000608157614