Starwood and Blackstone CEOs spoke. Boy, are they impressive.
Finally some movement here among this fast-growing property company:
Items:
+ Housing surplus stock has ended. Remember US. population is growing at 3 million a year. That means we need 1.5 million houses a year.
+ Big city rents — commercial and retail — are skyrocketing. Rents on Fifth Avenue has risen five times in the past seven to eight years.
+ Everyone rich overseas wants to invest in the U.S. — especially New York, their primary entry point. Said one speaker, “There is a wall of capital coming at us. People want to invest in the U.S. . Enormous money is being generated overseas. Sovereign wealth capital are under-invested in the U.S. Foreign money often thinks dynastically and generationally.”
The two greatest shorts:
+ Not much growth for IBM in the past several years. They seem to be missing markets like the cloud, search, mobile, social media, etc.
Intraday Friday after one speaker hammered them, and extolled Google and Amazon.
The U.S. is investigating Lumber Liquidators. But the stock really got hit when one speaker portrayed them as a great short. Their P/E is much too high at 40, compared to HD’s 23.4 or LOW’s 24.
LL has one gigantic lesson. You need to have Google Alerts on all your stocks. Get the Alerts as the news hits. Stocks this has been important on recent: Boeing and Tesla. Great check on random, black swan disasters.
Finally QCOM is getting some positive buzz.
I’m now worried about Boeing. More battery problems.
Favorite recent New Yorker cartoons:
Iran’s Supreme Leader Hopes Nuke Deal Distracts Attention from Obamacare
TEHRAN (The Borowitz Report)-The Supreme Leader of Iran, Ayatollah Ali Khamenei, told reporters today his nation agreed to a deal on its nuclear program in the hopes that it would distract attention from the trouble-plagued rollout of Obamacare.
“It’s true, we’ve resisted any deal on nukes for over three decades,” the Ayatollah said. “But when we saw how much trouble Obama was having with his Web site, we realized it would be uncaring of us not to try to help him out.”
The Ayatollah said he was not “overly optimistic” that signing a nuclear treaty with the West would be sufficient to distract attention from the President’s Obamacare woes, but, he added, “You never know. Every little bit helps.”
He said that he and Iran’s leaders will be putting their heads together in the days and weeks ahead to see “if there’s anything else we can do to help Obama out of this health-care mess.”
“One idea we’re tossing around is to get the Iranian people to stop chanting, `Death to America,’ the way they have for the past thirty-four years,” he said. “At the very least, maybe dial it back until he gets that Web site straightened out.”
Harry Newton is obviously a huge fan of the Robin Hood Foundation. Here’s why (in their own words)
Robin Hood employs the same rigorous methods of measurements and outcomes used in the financial world in order to enture our donors’ dollars achieve maximum returns for New Yorkers in need.
Since 1988 Robin Hood has distributed more than $1.25 billion to hundreds of the most effective soup kitchens, homeless shelters, schools, job-training programs and other vital services that give New York’s neediest citizens the tools they need to build better lives.
I played more risky, more aggressive tennis on the weekend. And it worked. I feel I’m getting better. Yipee.
