Gregmal

Dont people get tired of this? You can say "oh Trump supporters ignore that he does "this""...OK, lol, and the other side was that Obama supporters completely ignored his abhorrent and divisive rhetoric and corruption as well. Guess what? There s nothing any of us can do about it. Accept that, find a part of the country that best supports your lifestyle and values, and just shut the fuck up and live your life. I assure you its entirely possible and nobody's freedoms are impacted nearly to the degree you'd think given all the bitching and moaning. Even now with lockdowns...guess what? Theres lots of states that are open...

I'm too lazy to start a thread, but since we've covered some of the Alex's(ALEX and ALX), I thought I'd bring up the Mrs....Alexandria REIT, ticker ARE. Pretty boring but in REITland and office space land, I dont think there are many things moatier than biotech and life sciences office space. You certainly aint studying infectious diseases at home.

No doubt - and to think these clowns had 4 years to put up a reasonable candidate out of millions of democrats. They come up with a string of losers while dividing the country. Nothing like handing the election to Trump again - only this time - they will have to blame themselves, not the god awful, despicable Hillary Clinton or the Russians. This is by and large why you saw so many(not coincidentally) liberals get so excited about the coronavirus. It was their next and probably last big chance to blame everything on Trump and try to bring him down. Heck, you even had headlines claiming Trump was responsible for crashing the economy... it was all pretty amusing but also sad they sought to take tragedy and hardship and use it to make yet another attempt at bringing him down.

I know a little about a lot and a lot about a little. As such, my portfolio is almost always concentrated with top 5 or so ideas between 50-75%(and rarely changing), but the other 25-50% being dozens of ideas, most of which are for shits or just trackers or entertainment pieces. Those 5 or so companies I probably know as good if not better than anyone else. The rest, I probably know less than most. There is almost no rhyme or reason outside of the common threads: high insider ownership, hard assets often of irreplaceable or one of a kind quality, conservatively run with robust financial profile. I know some about real estate, but thats pretty useless right now lol. So, my greatest expertise is in waiting for something to catch my attention and then really going overboard on it. Not necessarily industry specific.

Those arent democracies with an electoral process. I mean this is basically the exact same argument bleeding heart liberal Michael Moore made and warned Democrats about, and look what they even did to him lol. Look at the playbook from McCain and Romney and then the gauntlet Trump had to run. "not part of the establishment" - great way to win over blue collar voters! "he's too rich" - Romney acted embarrassed and folded, Trump said, hell yea and flaunted his supposed wealth. One strategy worked, the other didn't The multiple, well orchestrated media leaked "bombshells" - Others fold or spend valuable time defending themselves, Trump says fuck you, fake news. What worked? This is the game you guys have created and its become ugly and win and all costs is the result. Like I said, you could have had a gentleman like Romney, but you chose instead to play identity politics and smear him, so you could "win". Now you've gotten a real monster who just plays the game better than your current candidate

https://www.who.int/emergencies/diseases/novel-coronavirus-2019/advice-for-public/when-and-how-to-use-masks "If you are healthy, you only need to wear a mask if you are taking care of a person with COVID-19. Wear a mask if you are coughing or sneezing." -WHO still has this on their website. Not my opinion to be clear. Yeah, that was a lie (likely with the good intention of stopping a run on scarce PPE in the early days). Now do Trump’s lies instead of cherry picking. He’s in charge in the US, not the WHO. No other competent countries have been stopped by this.. because they’re trying to defeat the virus rather than look for others to blame. If you are capable of being objective...you dont think the current state of politics, and especially the way Trump behaves towards folks he views as "the opposition" is in any way the result of literally everyone being out to bring him down? Guy fucks up a lot, but to most of the media and liberals, he cant do anything right. I remember specifically Ivanka announcing that they had agreed to some sort of program designed to help families with paid maternity leave and childcare... a good thing in any context, and both the media and all the Twitter mouthpieces responded like a bunch of mouth foaming retards with vitriol. Guy cant wish people Merry Christmas and even get a "you too" back from his critics. Its almost always a "fuck you" if not worse. So he gives it back and then some. When you play a win at all costs game of politics, this is the result. Both parties are to blame, and the way Trump acts in many instances is obviously, how you have to play in order to defeat it. Romney was a gentlemen, and look what you guys did to him when he ran... it is indeed why Trump is a terrible leader during dire situations like this when everyone needs to be coming together, but at the same time, its the beast you guys created with the identity politics and half ass application of metoo and all that other nonsense. Romney probably doesnt look so bad now does he? And he could have been your 2016 Republican nominee, but, you guys rejected him 2012 cuz he travelled with his dog crate on the roof or something...

I also think much of the need for office space frivolously comes down to egos. I spent a short period of time working in the city. I wouldn't ever underestimate the importance of the corner office or the tall ceiling office with a view of the Hudson. Its probably also underestimated the ease with which corporate expenses can be justified from the top down. Maybe with a privately owned shop, ala Bloomberg, your owner/boss doesnt want you wasting their money because its his, but with most big corporations, especially publicly owned ones, its just so damn easy to spend, spend, spend because it doesnt come out of your pocket and just about everyone involved in the decision making chain can find a way to reap a benefit out of those spent dollars. Then again, this can also easily be reconciled as necessary in the name of attracting talent. So who knows.

https://newyork.cbslocal.com/2020/05/16/staten-island-reopening-rally/ Its funny, who'd have envisioned a scenario where the socialist politicians get to lockdown law abiding citizens but free jailed criminals? NY, NY...

I totally agree. Ive been quite perplexed, at least in REIT land, why office is not thought of as worse positioned for the future than retail. Even now, going out, you see that people love to get out, especially when the weather is nice. Go shopping. Get food and a drink. Be active. The other day I was leaving a newly built shopping center, and not only was the place packed, but even stuff like Jersey Mike's which neither serves drinks nor even has great sandwiches, had people everywhere. I would never look to run a retail business, but being the landlord is like operating a carousel. In decent areas, especially for dining establishments, there's never any shortage of people willing to set up a business. I still think tier 1 locations are gold. A class C mall? good luck. But a well maintained center next to high density/affluent residential and office? Good money. Maybe even great money. Now for office, you have an environment where few actually want to be there. Managers need productivity, and if they can get the same from home or outer space, most will. Especially if you can improve your bottom line by cutting costs. For a high percentage of businesses, everyone sitting in a centralized location is not needed. Of course, theres good areas here too. Critically important systems or defense contractors will always need the security of a central home office. But those are rare. Bottom line, no one says "I cant wait to go to the office". Its a whole unnecessary expense for most businesses that outside of a write off and maybe some deductions, will continue to be phased out.

Yea..... I truly hope this is legit, but this company, given its history and the folks associated... I'd bet we see a secondary real soon. Every biotech/pharma company in the world has realized they can raise millions at significantly better valuations simply by mentioning a potential COVID product. Not dissimilar from yesteryears "blockchain" and "CBD/cannabis" booms.

You are entitled to your freedom. You are not entitled to infringe on the freedom of others. Driving a car is a privilege, not a right. A shop owner should be allowed to stay open. The individual will decide whether or not to enter. This isn't difficult. I would make the analogy: someone with a gun that is allowed to shoot the gun around randomly and if he happens to kill someone so what. One could make the case that if you don't like the risk just stay inside. There are essentially 2 realistic choices: 1. No Mandatory masks and many more people die and the economy goes to crap. 2. Mandatory mask wearing: and many more people live and the economy is much better. I don't think it's right that society is creating an unsafe environment for the vast majority by allowing people to just not wear masks. Also it is a very costly path to not have mandatory masks. Oh no, I agree. Im totally in the wear a mask camp. Was just referring to the forced business closures. Most of the businesses Ive seen that are open have mandatory mask policies anyway.

You are entitled to your freedom. You are not entitled to infringe on the freedom of others. Driving a car is a privilege, not a right. A shop owner should be allowed to stay open. The individual will decide whether or not to enter. This isn't difficult.

I do think ALX is probably the cleaner way to play whatever it is one is playing with a VNO investment. There will be a bigger lag before Observatory and Garden get back to business. I totally agree. However I do think there is a major growth runway, especially with millennials and retired boomers, for lifestyle/experience based businesses. This was on full display pre COVID and I dont see it going away. I think in fact, there will be big time pent up demand. The Garden is definitely a benefactor. LiveNation is too but I dont like that as much as the MSGE which is basically trading for cash right now, with 0 debt.

I came to the same conclusion. The things that need to work for Vornado will provide greater upside to other names. While at the same time, other names can win if Vornado doesnt. When you own so much, sometimes you're stuck with it. VNO will live and/or die with its NYC assets. Overall I'm definitely bullish on NYC RE. But, there's easier ways to win IMO. If I own ESRT, one asset sale and I walk away with a big bag of cash. PGRE can pull off the same things. Honestly, I'd rather even go right to the source at bet on NYC restaurants via private investment. Or of course, The World's Most Famous Arena, for free via MSGE.

On the day the thread was created, the stock price is flat, but dividends received are materially better than cash and you lost no principal and maintained purchasing power. So, it could have been worse - pandemic notwithstanding. This is certainly worthy of the #bagholderquotes.....

Everyone got the memo but old Warren....

Yea I am not sure what to make of it. I am now reading about people flocking to bars in droves in Wisconsin, and restaurants in Arizona packed with lines of people waiting hours for a table and keep waiting for the dire warnings to turn into unfortunate realities...but so far, that doesnt seem to be happening. And as it continues to not play out the way many forecasted, it seems the behavior is quickly reverting back to normal. Which of course is great and all if this indeed was blown out of proportion, however if this happens to be premature, it would end up looking unnecessarily reckless. I am against the lockdowns and stay at home orders but also think common sense precautions should be taken when going about one's life. I'd certainly go to a bar or restaurant during off peak hours. At the same time I dont think I'd pack in during happy hour or $1 beer night. Some of the clips, especially in Arizona, are downright insane. People 6 inches away from each other, no face masks, waiting to get into a bar where its elbow to elbow crammed. I guess we will see soon enough.

So I do recall at one point there was a ton of talk about how "reckless" states like Florida, Arizona, Georgia and Texas were with their responses and in some gases, lack of lockdowns. How they were going to be major disasters. And so today, out of curiosity I swung back to the numbers and none of those states are currently showing numbers that fit any of the forecasted descriptions. Why do we think this is?

I think people(still) need to calm down with all this market is over/under valued speculation and rampant obsession with calling the next day/week's direction. Some things right now are astoundingly expensive. Some things are astoundingly cheap. There is a lot thats in-between. Look at the Nasdaq vs S&P vs IWM... HUGE valuation disparity. If you want to get speculative, you can, as Bill Miller correctly points out, find some easy home runs if you predicate that investment on a vaccine being found. On the other end, if there is no vaccine, you can also probably find yourself some landmines and thus avoid. OMG 17x is cheap/expensive is stupid to me. I dont buy indexes and that kind of talk is only relevant if you do.

Hardly the deal of a lifetime, but I finally threw in the towel and bought a few shares of Costco at 295.

Been thinking about these for a while, and think they fit in here, but in our realm of the universe, JLL, MMI and CBRE do a fine job of collecting their pound of flesh regardless.

https://www.cnbc.com/2020/05/13/bill-miller-doesnt-see-market-as-dramatically-overvalued-says-amazon-could-double-in-3-years.html LOL. Certainly a bit contrarian. RE: Tepper, interesting the collar he put on. Bottom should be in, but we're overvalued. So his idea of fair value is somewhere between the levels we're seen in the past 6 weeks, which, given the divergences of the various indexes, one could probably deduce he's talking about the Nasdaq.

ESRT and PCYO

So, just to clarify, Mr. Dalal Trump, who speaks loudly but says nothing, you are long Peloton?