Gregmal

BRKB, CLPR, FRG starter

I don't think there is anything on the REIT disclosures. Ive previously gone as high as about 4.5% and currently have 2 that are between 1-3%. Never filed anything or been told Ive had to. My understanding for REITs is they need to have the 5/50 thing down, but that would be an obligation of the company and its agent in order to validate the tax status, should they get audited.

So the folks associated with the incoming administration have a history of stealing things?

Found out my 98 year old grandmother will be getting the vaccine on Friday. She will be going with my aunt(her daughter) and uncle. Both of whom already got the vaccine. My aunt being a substitute teacher and my uncle being on the board of a hospital! Both when asked if they wanted it, retorted with "shouldn't other people get it first" and the response was that they just so happened to have them laying around, and someone needed to take them. What a remarkable rollout.

https://www.washingtonexaminer.com/news/andrew-cuomo-economy-reopen-coronavirus Who would have thought? Perhaps conspiracy theorists? Despite repeated cries from Fuuci about the worst being ahead of us....Cuomo is now looking to open NYC...does anyone know what changed in the past couple months? In related news, Chicago has also decided to suddenly re-open schools. Bizarre.

Usually the annual reports list property by property for the entities. Even if you just have a name you can typically parlay that with a Google search into an address and tax record filing.

Morguard Corp(MRC), and Morguard REIT(MRT) have all that stuff. North American(MRG) is pureplay residential and IMO the crown jewel that most people arent even aware of.

I'd throw MRG in there as well on multi family. Trades at half of NAV and 30% discount to historical average. Good yield. High ownership from Sahi; who is an incredible operator. Basically a Sun Belt hybrid with some exposure to the recovery areas in Canada as well.

Sold some MX. Paid down some margin. Started GILT.

In honor of the times, V for Vendetta. Classic.

Trying to get into some new shows I started watching Your Honor with Bryan Cranston. Big fan of some of his stuff and Showtime Ive found is top notch with premium series. It's horrible and sucks more than I could have imagined. Basically Death Sentence meets a low level crime drama with a lazy social justice message. Total letdown.

Interesting is that we have no problem accepting rolling out mail in voting ballots. You get a slip in the mail, bring it to your local polling station, cast your vote, and get your sticker. Meanwhile, for a vaccine, which should be the same exact process; IE here's your vaccine slip, bring it to the said location, exchange it for a shot and a stimulus check voucher....Nah, direct everyone to the outdated government websites that crash and lock people out when volume spikes 30% or more...then wonder why no one is getting vaccinated and places are throwing out vials because of the mishandling and lack of timely administration...total fucking idiots.

I agree, but dont get your hopes up. POTUS is obviously busy with other things, as is Congress. After all, they all got their shots already. Jokes on the average Joe, as it always is.

CDC now saying we could see a huge covid surge as a result fo the "riots". After nearly a year of hearing how "riots" were not believed to be causing any spread....what will they come up with next?

Someone should tell Cathy she needs to let the journalists and cameraman have "unprecedented access". One day there will be never before seen footage, and behind the scenes stories to be told via a remarkable, never before seen documentary. This is....The Last Dance.

I actually see this as one of the best short term, event driven trade setups out there right now. You have maybe 20-30% potential short term downside and 150%+ upside potential. If your risk tolerance is 100 bps(IE nothing), you can T up a rather meaningful position.

Yup. Bottom line is owning assets is better than not owning them. Many of the cash folks also seem to be worried about inflation too lol. Makes no sense. People always say shit like "price is what you pay..." or whatever and then refer to 1999 or 2008, but at this point many of them have been saying that, and been wrong for almost a decade, or put another way, 1/3 of the normal persons investing life cycle. I have over and over again found it prudent to be respectful of, but largely bet against "the exceptions to the rule" when it comes to investing because exceptions are rare and the closer we are to them the less likely they are to happen. You can hedge these exception to the rule risks quite easily and cheaply as well, further mitigating them. Its why 2011 Q3 was a gift(just using an example). Everyone thought it was GFC 2.0 and large scale defaults where just around the corner....they weren't. Because we just had that 2 years prior and everyone was prepared for it. Its why the fear of "the next wave" of covid never really materialized in the markets and kept people under invested... I say this as someone who is as bearish on some big parts of the market as Ive ever been, and have probably a 20% or so short exposure through various baskets and trades. But I also still have very reasonable long exposure. If you cant find anything to invest in for long period of time, you should just buy the index or ETF because the truth is that a reasonable market participant can almost always find something out there thats worth investing in. And yea, multi family REITs IMO are probably the ultimate cover all your bases, undervalued, will do well/get an adjustment multiple boost value play out there right now. Theyre a no brainer but people miss them because of false narratives and the fact that theyre also not going to be doing 50-100% in a year.

California has been the most abusive and restrictive and yet leads the way in terms of being a total disaster from top to bottom. At least Nancy can get her hair done and Mr. Newsome and pals can do their fundraisers. The 49ers however, can not even play in an empty stadium. Common folks...stay at home chumps!

Got some LWACU

Now it all makes sense! Both you fine fellas. Hahah cheers.

^ In that regard I think you just have to manage it. I set a hard accumulate limit under $10K and just stuck to that. Had a good long while to get the position. I thought there was ultra high probability that we retest and then break the old highs. Once enough air gets between you and then ground, you just want to constantly derisk. I have no intention to buy any dips. Just trim small and regularly as this flies. Who knows how wild or crazy the crash landing will be. SD is on point with his implied message that this is purely a traders vehicle. There is no intrinsic value, which is not to be confused with saying it has no utility. But its not like you have fundamental markers such as price to book or whatever with which you can implement a buy/sell strategy.

SD trading or Wabuffo talking about monetary policy....both are kind of like grad level university course poetry. You can see its beauty. You are captivated by its effortless luster, and ultimately leave appreciating it, but not really understanding it anyway.

I think HTB is just a designation for an elevated fee, currently I think ~2-3% although that floats. More important to keep an eye on available shares. Theres over 1M shares of ARKG at Fidelity and a couple mil at RBC. Haven't checked IBKR. Dont underestimate the brokerage industry's cleverness with disclosing fees. That HTB warning is often just the way they tell you they're hitting up your account for something.

Took another roughly 10% or so off CRSP, EDIT, BEAM, RPTX and paid down some margin plus added to ARKG short. Also tacked on a few more shares to TSLA short.

Theres your IPOE for the win. Next up from Chamath is F or something. Sold out of a few recently and the LSAQ train left the station, as far as pre announcement spacs go. CAPAU too did its couple % march towards warrant separation move too.