by Ross Bowler | Sep 19, 2023 | Market Commentary
Sector Rotation Over the last year or so, our exposure to residential real estate investment has been very limited. It’s not that business hasn’t been very good for apartment owners; from the start of 2021 through 2022, rents on lease renewals routinely jumped 15 to...
by Ross Bowler | Aug 29, 2023 | Market Commentary
Paths to Growth Higher interest rates have made commercial real estate prohibitively expensive. Higher interest rates have destabilized the regional banking system through the evaporation of no-cost deposits, which resulted in a raft of stricter banking regulations...
by Ross Bowler | Jul 27, 2023 | Market Commentary
Segueing to Higher Dividend Income and a Return to Par The Labor Department on Wednesday reported that its index of consumer prices rose just 0.2% in June from a month earlier. Market watchers breathed a sigh of relief, but the Fed quickly warned that its battle with...
by Ross Bowler | Jun 21, 2023 | Market Commentary
We Bought the Farm Over the last year and a half of this hyper-inflationary environment, we’ve joined the legions of other investors in ritualistically awaiting the monthly release of fresh Consumer Price Index (CPI) and Producer Price Index (PPI) reports. Most of the...
by Ross Bowler | May 22, 2023 | Market Commentary
Old Currency is New Again History has a tendency to repeat itself and, at times, it can be a long, frustrating process. On May 3rd, the Federal Reserve raised rates for a 10th time bringing the target rate back to the highest level it has been since the Great...
by Ross Bowler | Apr 18, 2023 | Market Commentary
Purgatory at the Point of Inflection About a year ago, in our search for yield that was safe in a rising rate, inflationary environment, we identified a multi-billion-dollar pool of fixed-to-floating rate preferreds we could buy at meaningful discounts to par that...
