Global Market Commentary, Analysis and Investments
“We’re not bearish enough [on China].” – Jim Chanos
Oh my… China is breaking down. Europe is slipping. And there goes the US too…with stocks down 172 points on the Dow on Friday, closing out a 6th straight week of losses.
Even if the US holds itself together, there’s a good chance that either Europe or China will drag it down.
[Read more...]Brookfield Asset Management (NYSE:BAM), the Toronto-based global property, power and infrastructure asset management company, has been in the news recently bidding for General Growth Properties… is that a sign that the company is graspingat straws?
[Read more...]Today we offer thanks to Barry Ritholtz for sharing his views… literally. He’s moved into a new office in Manhattan where he can look out at the city in almost every direction.
From The Big Picture blog:
“Over the past few weeks, I have walked through the space with real estate people, contractors, building reps, etc., and noticed something rather amusing: Out of every single office, I could see the offices of at least one major bailout recipient some offices, I could see four!“
[Read more...]For all the ink spilled in the mainstream media over up and down fluctuations in real estate, the idea of a coming lost decade in the housing market finally sounds about right.
From the Washington Post:
“Even after the housing market stabilizes, it will take years for some owners to see the value of their homes appreciate. About 25 percent of homeowners owe more than their home is worth, according to data from First American CoreLogic, a research firm.
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Absolutely Nothing About Goldman Sachs
Joseph Saylin did not like to take chances. He didn’t trust people very much and he didn’t trust paper wealth very much. He trusted dogs and real estate…and that’s about it.
Joseph Saylin, my grandfather, was the son of Latvian immigrants. Joseph worked hard… always. And saved money… always. He was ambitious. He was a physician at the age of 21, a lieutenant in the US Army at the age of 24, a captain at 27, a major at 31, a colonel at 35. “I was always the ‘boy this’ and the ‘boy that,’” he would often boast during his twilight years. “I was the ‘boy doctor’ and the ‘boy colonel.’ A lot of guys were jealous. But they didn’t even think about how hard I worked.”
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