fareastwarriors

What kind of companies?

Softbank identified as ‘Nasdaq whale’ buyer of billions in options, juicing tech rally before drop https://www.cnbc.com/2020/09/04/softbank-reportedly-the-nasdaq-whale-that-bought-billions-in-options.html

Bought some PSHZF

A bit of MSFT.

What are you guys buying? Primary? Investment? Vacation?

Nearly One-Fourth of Manhattan’s Available Office Space Is Up For Sublease: Report https://commercialobserver.com/2020/09/manhattan-office-market-sublet-space-coronavirus/

Got space? Manhattan office availability hits 7-year high Leasing down 21% in August as sublet space dilutes market https://therealdeal.com/2020/09/02/got-space-manhattan-office-availability-hits-7-year-high/?utm_source=internal&utm_medium=widget&utm_campaign=feature_posts

Aby Rosen buys Midtown office building for $350M RFR seeking to lease 522 Fifth Avenue to a single tenant https://therealdeal.com/2020/09/01/aby-rosen-buys-midtown-office-building-for-350m/ Aby Rosen’s RFR just closed on a 23-story, 575,000-square-foot office tower in Midtown Manhattan for $350 million. Morgan Stanley sold the property at 522 Fifth Avenue, which it used as its headquarters for its wealth management division. ... In April, Rosen considered but decided against buying 900 Third Avenue in Midtown from Paramount Group for $400 million and a retail condo at 1600 Broadway in Times Square that was on the market for more than $200 million, according to Business Insider.

Tiny add to FB and BRK.B yesterday

Return to big offices? Why bank branches may get a new lease of life https://www.reuters.com/article/us-health-coronavirus-banks-branches-ana/return-to-big-offices-why-bank-branches-may-get-a-new-lease-of-life-idUSKBN25S3UB

U.S. tech stocks are now worth more than the entire European stock market https://www.cnbc.com/2020/08/28/us-tech-stocks-are-now-worth-more-than-the-entire-european-stock-market.html U.S. tech stocks were now more valuable by market cap than the entire European market, according to Bank of America. The European market was four times larger than U.S. tech in 2007, according to the note.

NYC Landlord Stepping Up Back-to-Office Campaign With Banks https://www.bloomberg.com/news/articles/2020-08-27/nyc-landlord-stepping-up-back-to-office-campaign-with-banks?srnd=premium

Great! 8) ;D

U.S. Commercial-Property Prices Fall With Worst Yet to Come https://www.bloomberg.com/news/articles/2020-08-26/u-s-commercial-property-prices-fall-and-worst-is-yet-to-come?srnd=premium Hotel, retail and office values all decline year-over-year Outlook dims as the economic toll from pandemic deepens

Sam Zell: CEOs can help cities recover by returning to offices, not ‘hiding out in the Hamptons’ https://www.cnbc.com/2020/08/26/sam-zell-ceos-can-help-us-cities-recover-by-returning-to-offices.html Billionaire investor Sam Zell told CNBC that corporate leaders have a role to play in helping U.S. cities stave off a serious economic decline. “It’s going to require leaders of all the companies to come back to their offices and lead the people and create the opportunity,” Zell said. “Hiding out in the Hamptons or hiding out in Vermont or wherever doesn’t make any sense and is counter-productive,” said the chairman of Chicago-based Equity Group Investments.

Hundreds of thousands of people looking for suburban homes — Sternlicht on exodus from cities “I would say it’s not as driven by the Covid situation as it is safety and law and order,” global investor Barry Sternlicht told CNBC. The Starwood Capital founder said tax policy is another critical force contributing to affluent people leaving, particularly New York City. “I’ve become a real estate broker for Miami. I keep sending friends down and showing them houses they can buy, and they’re buying,” he said. https://www.cnbc.com/2020/08/25/barry-sternlicht-hundreds-of-thousands-looking-for-suburban-homes.html Mr Sternlicht still has time to act as a broker? ;D Always hustling, I guess...

JPMorgan will have staff cycle between office and remote work in a move that may remake Wall Street Workers in JPMorgan’s corporate and investment bank will cycle between days spent at the office and at home, keeping the ability to work remotely on a part-time basis, according to Daniel Pinto, head of the massive division. The announcement by JPMorgan, the world’s biggest Wall Street bank by revenue, could pressure other financial firms to offer similar arrangements. JPMorgan could shutter backup trading floors located outside New York and London as a result of the move. https://www.cnbc.com/2020/08/25/jpmorgan-will-have-staff-cycle-between-office-and-remote-work-in-a-move-that-may-remake-wall-street.html

My wife was just saying the other day that shopping isn't even fun for her anymore. Walking around with a mask over your face, worrying about what surfaces you've touched, and sanitizing your hands, or the woman who just walked by coughing. The dressing rooms aren't open so you have to buy stuff and try it on at home knowing that you will need to go back again to return it, so you decide not to buy anything at all and just leave... I actually like shopping in person and I'm a straight guy. I don't do it more because the prices suck and right sizes are never available. Online I can always get a promo code or coupon with ease and I can go through a shopping portal or/and buy a discounted gift card for even more quick savings. In person, retail is not as easy although I sometimes find a eCoupon on my phone for them to scan or even print it before I go. The sizes available suck especially for pants. I'm not that tall but sadly a bit wider :( . Like I'm looking for 32x29 or 32x28, not 30x30, not 32x30, not 32x32....and they never have those sizes in store! Yes, retail need to evolve. Too many stores affording the same stuff at not great prices.

https://www.nytimes.com/2020/08/24/business/mall-short-hedge-funds.html ‘The Big Short 2.0’: How Hedge Funds Profited Off the Pain of Malls As the pandemic accelerated the demise of some brick-and-mortar retailers, a group of investors profited handsomely from their travails.

The average person should just try to find a low cost broad based index etf or similarly low cost target date fund and call it a day. Too bad many fall into traps of "advisors." :-\ Unfortunately the reality is not that simple. Many private employers do not offer good low cost index funds but only ETF's with high fee structure (my former employer did that unknowingly - thank you outsourced HR). Employees have no control in many cases and too much hassle to go outside to set up Roth IRA or something like that due matching contributions and other benefits from the employer. I get it. I seen plenty of shitty 1% (the most egregious was 2%) fee for a S&P 500 index fund and even more for active funds in some 401k plans. Even in those plans, contribute enough for match, if available. Then max out IRA and if have still money leftover, contribute to shitty fund in 401k. The real problem to me is lack of financial literacy among the masses. Savings, budgeting, investing, debts of all kind.

The average person should just try to find a low cost broad based index etf or similarly low cost target date fund and call it a day. Too bad many fall into traps of "advisors." :-\

Real Estate Investors Skip Paying Loans While Raising Billions Mall and hotel CMBS debts go into default as Covid hits value Some lenders are willing to sell back loans at a discount https://www.bloomberg.com/news/articles/2020-08-24/real-estate-investors-skip-paying-loans-while-raising-billions?srnd=premium

Safe bet? Sovereign funds rethink once-reliable real estate https://www.reuters.com/article/us-swf-realestate-insight/safe-bet-sovereign-funds-rethink-once-reliable-real-estate-idUSKBN25K0JC

Many Companies Planned to Reopen Offices After Labor Day. With Coronavirus Still Around, They’re Rethinking That. Companies had hoped to bring homebound workforces back in September, but employee outcry and fears over outbreaks have led bosses to change course https://www.wsj.com/articles/many-companies-planned-to-reopen-offices-after-labor-day-with-coronavirus-still-around-theyre-rethinking-that-11598175001?mod=hp_lead_pos1

My gf and her coworkers here in the SF Bay Area are tired of working from home too. Too boring, too lonely. Sure work gets done but at what cost! She's going crazy.