In partnership with

Saw an old friend over the weekend. Playing catch up and drinking beers, he briefly thanked me for writing this Journal.

He then asked, “Eddie, why do you do it—what is your angle?”

Fair question, a few reasons:

1. I like to write, and my mom tells me she learns something new about me every week 🙂 

2. Helping others—you—is inspiring & helps me learn, too

3. Networking is always valuable, never know what doors might open

4. I make a little ‘scratch’ from course sales, not needle moving, as 95% of my income comes from private equity real estate.

5. If any young folks click on the ad below for Whartons WallStreetPrep Real Estate course, I’ll get a whopping $1.60 per click. Normally I hate ads, so I apologize, but this one might actually be useful for younger readers looking to break into Real Estate.

All of those things make the 500-1000 words a week completely worth it.

All I ask in return is your time, which I hold dear. I do not take it for granted.

And that you send this to others so they might enjoy this journal, too.

To close, here is a video on creativity. Non-financial, simply inspirational. Hope you enjoy.

Personal Finance

I’ve got this incredible scam going.

Right, so listen…

I’m telling all these people, just to spend less than they earn, and put the difference into the S&P 500 every month.

Right! And they’re actually doing it!

So now I’m just gonna lay low, for like, 20–30 years.

Then all these people are gonna start getting rich. They’re gonna be so rich that they’re gonna start buying yachts.

And then they’re going to start inviting me on their yachts.

Yacht parties bro!

You gotta respect the long con.

—

Credit to Jeremy Schneider for this script. I love analogies and satire that help simplify otherwise “complex” ideas, which are really very basic. So I had to share.

See instagram for my rendition.

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Stock Markets

Move over Elon. We have a new Sheriff in town.

Oracle founder Larry Ellison just became the richest person in the world this week, clocking in at $397 Billion.

His company, Oracle, jumped about 40% higher on Wednesday as they released astounding news about future cloud revenue contracts in the hundreds of billions of dollars and growing.

Simply, wow. He also has a yacht, check out the Musashi here.

For all you day traders and single stock pickers, congratulations on overweighting Oracle stock before this 40% increase.

Not many people can do that.

In fact, studies show only about 4% of individual stock pickers outperform the market overtime.

And even when someone wins, staying on top is virtually impossible.

The top 10 largest companies change dramatically every decade.

• In 2000, the top global companies included GE, ExxonMobil, and Citigroup.

• Today, it is Apple, Microsoft, Google, NVIDA, Facebook, etc.

Only a couple companies remain the top 10 from 15-20 years ago.

Just a reminder that unless you are a pro, or have a serious information edge and a calm demeanor, you should stay away from trying to pick individual stocks.

Over time, you are statistically far more likely to underperform a simple SP500 index fund.

Real Estate

Return to Office? The debate is finally over.

Or is it?

According to global investment firm Brookfield Corporation, more companies have returned to the office, supporting recovery across the sector.

2 years ago, only 5% of office workers were “fully in office”. That number has increased 10x, with more than 50% back to the office full-time today.

This is driving a major increase in leasing demand. And while new office supply under construction has fallen off a cliff, this leads Brookfield to believe that supply demand dynamics will continue to tighten and therefore drive rents higher.

While certainly a positive trend for the office sector, this really applies mostly to the trophy and best in class product in downtown cores that house companies with commanding power as well as provide amenity rich features for their staff.

Overall vacancy in Canada is hovering at near 19% —an absolutely massive number—with trophy assets at about 10% vacant. Meanwhile class A, B, and C assets sit between 17 and 25% vacant.

So while all of this talk about return to office being a done deal, this really only applies to a small portion of the overall office market. Indeed, there is still a dark cloud over the rest of the office sector.

For the sake of a few office investments I am connected to, hopefully the return to work trend continues.

Time will tell.

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1 Quote

“your friend always seems to time the stock market perfectly, so you should probably listen to them next time”

—anon 🤣 

A Question

Did you buy more Oracle before the 40% jump?

I did, when I bought more S&P500 last week, which includes Oracle.

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