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Overnight Pattern Says Market Will Do this Today with US Treasury Driving 2/23/23

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47 minutes ago, potatohead said:

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When I was appraising commercial real estate, the stupidity of professional real estate money managers never ceased to amaze me.  I'm talking about guys like PIMCO, not guys like Sam Zell. 

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The guys who grew up in the real estate business buying and selling and developing property knew the deal. Even Trump. He just stole what he wanted up front from the so called professionals. The guys who ran OPM, with the MBAs from third rate Big 12 business schools, were all fucking idiots. Slick, glib, could justify anything they input into their DCFs stupid. 

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Just now, DrStool said:

The guys who grew up in the real estate business buying and selling and developing property knew the deal. Even Trump. He just stole what he wanted up front from the so called professionals. The guys who ran OPM, with the MBAs from third rate Big 12 business schools, were all fucking idiots. Slick, glib, could justify anything they input into their DCFs stupid. 

In every cycle, these are the guys who get taken. But it's not their money, and they never lose their jobs. 

Investment advisers who have to talk to their clients on the phone and meet them face to face from time to time are different than those clowns.  You guys are the real deal, and I appreciate what you do. Especially if you are here. 😄

 

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These money managers who ran around buying single family homes when rates were zero were the worst. Greedy, venal mofos. They knew that these were terrible investments. They absolutely had to know. Of they had their heads so far up their asses, they didn't even know that they were digging in shit. 

What a disgrace. 

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4 minutes ago, DrStool said:

These money managers who ran around buying single family homes when rates were zero were the worst. Greedy, venal mofos. They knew that these were terrible investments. They absolutely had to know. Of they had their heads so far up their asses, they didn't even know that they were digging in shit. 

What a disgrace. 

 

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It was so obvious. The only question is what took so long. The banks kept kicking the can and playing games to avoid recognizing the losses. 

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1 minute ago, DrStool said:

It was so obvious. The only question is what took so long. The banks kept kicking the can and playing games to avoid recognizing the losses. 

They still are too! Some lenders are making loans for residential real estate at a loss just to keep their market share. No worries - I'm sure they'll make it up in the volume! LOL

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16 minutes ago, sandy beach said:

They still are too! Some lenders are making loans for residential real estate at a loss just to keep their market share. No worries - I'm sure they'll make it up in the volume! LOL

Are you saying that they are lending at less than their cost of funds? That's suicide. 

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