BG2008

If you know anything about the equity market, it is very forward looking. This provides hope and that's what you need sometimes. It takes away the risk that a 50% effective vaccine is the only way forward.

Let's play the most likely to be benefited game, I think NYC office will see a huge pop today. ThePupil will be dancing on the street today. Six Flags Disney (Theme Park) Comcast (Theme Park) Travel - Airlines Expedia, Trandigm, Heico etc What else could benefit? Williams Company for the pipelines, anything O&G related likely benefits today

That's a filthy ROE! Like Robinhood daytrading type of ROE in illiquid real estate. How did you swing the 97% LTV? That's incredible. You have to share your banker with me.

Truth is somewhere in the middle. Virtually unlimited supply in Mid West means you can just keep building outwards.

Interactive Brokers in its infinite wisdom pop the EMIR on my log in page. It won't allow me to go beyond until I have answered the question of whether I have EMIR or need it etc. I have no idea what is EMIR. Anyone has any thoughts?

I meant to say "Can't"

Howard Hughes may set up for it this decade. They've been fundamentally growing for the past decade. But the last decade saw shares go from $40 to $160 and back to $65. I think this decade may see it go to $200-300. Just a hunch.

I didn't save the tweet, but there a handful of RE Twittter personalities saying that they can find any MF at 4% cap rate in Dallas.

Called them, they seem have no clue. Thanks though. Try Brian Sweeney 215-205-7070 Brian.Sweeney@citizensbank.com

Sounds like the US during the housing bubble days

I find bone broth to be really helpful especially since I'm on a Keto/low car diet. The minerals in bones helps with my cognitive functions. Castanza, do you ever make bone broth with the deer that you hunt? I would imagine that is some high quality, grassfed, organic stuff.

Frankly, I talked my wife into buying a beach house for use as the new office because of this. Just walking outside in the sun with waves is amazing and clears up my mind. The issue that I run into is that sitting and status quo has inertia. If I get jammed up, it becomes a bit of a spiral. Sleep suffers. Then productivity goes down. etc.

Cardio is super helpful for me for de-stressing improving sleep. You should try hitting a heavy bag. Great stress relief and a good workout. Easy enough to find one for $50 on Facebook marketplace. Brain dumps also work well for me if I'm feeling overwhelmed. It's a simple trick but writing down everything that is on your mind, work and non-work related sort of "cleans up the hard drive". At least that's my perspective on it. Helps me stay organized and focus in on objectives with prioritization. Does hunting help as well?

Cardio is super helpful for me for de-stressing improving sleep. You should try hitting a heavy bag. Great stress relief and a good workout. Easy enough to find one for $50 on Facebook marketplace. Brain dumps also work well for me if I'm feeling overwhelmed. It's a simple trick but writing down everything that is on your mind, work and non-work related sort of "cleans up the hard drive". At least that's my perspective on it. Helps me stay organized and focus in on objectives with prioritization. First time that I have heard of brain dump. So just writing everything down?

Cardio is super helpful for me for de-stressing improving sleep.

Being well rested makes a huge difference to mental acuity. My decision making is way worse when I'm tired. We recognize this for things like driving, there is no reason to think it would be different for more complex and multi-faceted decision making areas (like investing). Absolutely. I'm just kind of joking that's the secret. But it so well known. I was blown away by how much cutting out carbs and processed food helped with my mental performance. So, I am trying to figure out if there are other low hanging fruits. IF and Keot have been huge helps.

I am surprised that on a value investing forum where people are passionate about investing, there isn't more conversation about optimizing mental performance? I am leaning towards that people are keeping their secrets close to their chest. I suspect 8 hours of sleep is the secret.

Anyone here who does Keto or Intermittent fasting to help them get a mental edge? I find that good night of sleep, coffee next morning, plus being on Keto is like "super charged" productivity and focus. I have heard of people in SF taking LSDs etc. Just going on Keto has helped with my insulin level and energy levels in general.

Wimp, The way to make money in NYC is to buy and never sell through thick and thin. With 2% financing, these bad boys will trade at 3% cap rate eventually. :P :P I'm joking, but kind of serious at the same time.

Citizens Bank

wasn't aware that there was a cap on damages re rejected lease! I knew that, just wasn't so clear

I thought that this is one of the better summaries on treatment of leases in a bankruptcy https://rmfpc.com/wp-content/uploads/2020/09/Bankruptcy-QA_-What-Commercial-Landlords-Need-to-Know.pdf

Pupil, We are either on the cusp of making a ton of money investing in these REITs or we are too dumb and too stubborn for our own good

I am not a FFH expert, but I do understand BRK well and I have a problem of not owning BRK. I think part of it is because my investors can easily buy BRK themselves. This has lead me to hunt for value elsewhere. The reality is that there is simplicity in BRK in that Buffet isn't trying to put on a deflation hedge. Heck, BRK even put on one of the largest winners ever (by dollar value) in Apple. So you have one company that does not make macro bets and another that buys CDS to try to generate a windfall in a deflation bet. One company owns railroads, RV manufacturers (oligopoly structure), building materials (good businesses in general), one of the best run regulated utility business, and See's Candy, etc. These businesses are simply much better than FFH's business. It only took me about 10 years to understand that good businesses just do better in a 10-20 year time frame. You don't have to horse trade as much. You can just ride them. Does anyone know what is the lowest P/B that FFH has ever traded at? If 0.7x is the lowest ever, than this is indeed interesting. MSFT was flat for 10 years and has become one of the best performers recently. Sometimes, things change and market perception change. But I doubt I will make FFH an outsized position. Perhaps, the better time is to actually see some changes in behavior and maybe just more allocation to share buybacks etc.

https://www.cnbc.com/2020/09/02/google-mountain-view-tech-hub-proposal-pictures.html Death of the urban office, Google is building a campus. Granted it's not urban. I think SF and NYC are very different and have some similarities. I think SF is smaller and not conducive to public transportation. NYC has great subway network that should function well once we have a vaccine. These are nuances that I wasn't as cognizant of until speaking to a few SF techies recently.