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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (12821)	10/4/2004 9:25:52 PM
From: Elroy Jetson	Read Replies (8) \| Respond to of 116555

"If we looked at development projects that way, we'd never build anything." This is the comment my business partner and I have frequently heard from real estate developer clients when we priced out the risk they were taking on a project. They find it fantastic that some developers actually price risk properly yet still find projects to build. It seems like a complete fantasy to them. What's sad is when we bring sanity to a real estate developer or real estate investor's life under court order while working for a bank. Essentially all of these unfortunate endings were entirely avoidable had the developer or investor engaged our services before the situation became critical. People like Sam Zell have built an empire by not building or buying when the numbers don't make sense, yet moving ahead aggressively when they do. It's the same way Warren Buffet flummoxes other stock investors.