In terms of commercial real estate (“CRE”), we show exposure to this category as a percent of total loans. We then show “Office” and “Multifamily” as CRE subsectors. Continue reading here.
The music is slowing. Here’s what I’m seeing out there. Owners who need to sell, for a variety of reasons, are in trouble. The market has changed, and they’re trying to recoup their equity, which ain’t happening. Active price discovery. Brokers who haven’t been in the business long are panicking because their business has virtually
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I speak a lot about hidden values in spinoffs, but this is a great place to hunt for value that a few key investors investigate. Spinoffs are sometimes called ‘orphan securities.’ The definition pertains to a stock or other financial instrument that industry analysts do not routinely monitor or cover. As a result, these securities
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Ocean Wilson (OCN:L, £350m) Ocean Wilson is an investment company with two key holdings: OWIL, a fund of funds, and a 57% stake in publicly-listed Wilson Sons, one of the largest providers of maritime services in Brazil. OCN is currently trading at a 50%+ discount to NAV. However, unlike in a regular [sum of the
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I’m looking with much interest into the upcoming Solvay split. On December 11, Solvay will split its business in a commoditized chemicals part (maintaining the name Solvay) and a ‘specialty’ chemicals part (to be called Syensqo). I believe the split could unlock significant value as the market seems to greatly underestimate the current SOTP value.
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China has spearheaded record levels of central bank purchases of gold globally in the first nine months of the year, as countries seek to hedge against inflation and reduce their reliance on the dollar. Central banks have bought 800 tonnes in the first nine months of the year, up 14% year-on-year, according to a report
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The year-over-year change in the headline inflation data is improving, but longer-term rates of inflation are heading higher, much like they did during the late 1960s/early 1970s. Maybe that’s why gold is ignoring the rise in real rates and remains near all-time highs.
