OnTheShouldersOfGiants

Thanks for sharing

Anybody get to see the the Q2 letter?

I suspect real estate returns are lower than equity, AAPL or even BRK repurchase at today's prices likely yield higher returns. Guessing they won't be using their capital on this.

I was at the Bruce Flatt dinner and agree with the others it was a good discussion. A man from Winnipeg won the auction to have dinner with Bruce. Does anyone know who that is? I'd love to get in contact with him

Great stuff, thanks for sharing. I'm not the biggest fan of comparing LCOE values for dispatchable and non-dispatchable technologies but I certainly don't know a better way. Regardless, great to see the cost of alternative non-emitting technologies dropping so quickly. Humans are too smart to continue digging hydrocarbons out of the ground and burning them at 30-60% thermal efficiency.

I agree with you both. Cap rate for GGP at current levels is mid 6. Thanks for running me through the numbers. Looks like great real estate selling at a discount to private market cap rates.

Do you mind running me through how you came up with a 7.2% cap rate.

SRG has 42 pages dedicated to it and is a situation with more moving parts. To me it seems that General Growth, Taubman, Simon and Macerich represent most of the highest quality retail real estate in the US with opportunities to reinvest capital at attractive rates and are undervalued when compared to private market prices. ~ 5% dividend while you wait. It seems too simple. Yes, I own all of the above except TCO yet. The internet and Amazon are a tremendous boon for class A properties. B and C malls closing down mean that the strong will get stronger. Class A rents per sqft, leasing spreads continue to grow year after year. I'm trying to do an in-depth study of the industry, posted a thread few weeks ago as I'd like to find a good source of data that is free, but nobody replied. Lmk if you have good recommendations, I've found the best information in the investor material from GGP, BPY and TCO. What is an appropriate Debt/EBITDA for this space?

Is anyone else looking at this? GGP, MAC, TCO, SPG are all trading at cap rates far above what these properties would fetch on the private market and paying 5% dividends at the same time. I'm guessing this is tied to the death of retail. Interested in others thoughts on this.

Thanks, yeah you're right there are hotels out there just thought someone might have a reservation somewhere nice that they don't need anymore.

Does anyone have a hotel for the BRK AGM that they thought they'd need but now don't? Let me know what you've got, not much left on Travelocity

Does anyone know if Gurufocus does anything that Dataroma doesn't?

Just curious if anyone has a room reserved for the BRK meeting that they will be canceling. If so I'm looking. Thanks in advance

Thanks guys for the links and transcript.

Does anybody have a link to the full interview from yesterday?