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Politics : Ask Michael Burke
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To: Terry D who wrote (110574)1/18/2008 5:53:11 PM
From: KPHinds  Read Replies (2) of 132070
 
What are you considering in the REIT wreckage? I sold some other stuff this morning and bought (a very small position in) 2 REITs this afternoon. I honestly don't understand the business model enough to be playing around too much with them, but at some point you'd think that it would be time to buy into some of these, and it does play into my longer term strategy. (my longer term strategy of taking over the world, of course.)

I'll tell you this much. Longer term I want to take short term positions in some good old bubbles. I remember Soros describing the REIT model in its original iteration in the US as one that made sense because of a bubble; he also described the collapse. I just don't know enough to recognize if we'll have a similar collapse to his description. I don't remember Soros' details, and to be honest I have not been following the market too much until a few weeks ago, and I don't know how REITs have changed in the last 50 years...
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