- Jul 15, 2014
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Blackstone and Starwood putting limits on investor redemptions in their private real estate and credit funds
2022 investing thread
- Thread starter BMF
- Start date
- Jun 12, 2014
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Founding Member
It's hard to imagine a donation to gator chatter being tax deductible
- Nov 19, 2014
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I do not own either of those non publicly traded REITs (BREIT or SREIT), but are not these limits known in the covenants and have been previously approved by the SEC? Since these are not liquid assets, it is done to prevent runs and massive liquidations? FWIW I do own both of those aformentioned companies publicly traded securities. Good for a very long time, painful now, LOL.
- Nov 19, 2014
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I believe GC was established as a Religious Charity as it is where many of us find some form of religion, good, bad or indifferent.
- Jul 15, 2014
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- Nov 19, 2014
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So when this happened the rumor was that the redemptions came mostly from Asian clients. That would clearly make since b/c if anyone has been following what has been happening in China and their property/real estate markets, the word DISASTER comes to mind. I just read that the Chairman of Blackstone confirmed the rumor of where most of the redemptions came from. The question will be if this is the continuation of something that will be a threat to the entire worldwide economy?
BTW when I asked about the covenants, the max redemptions allowed in any of these REIT's is 2% per month and up to 5% per quarter. That was breached, but they will honor the limits. Will it continue???????
Lastly, before all this news hit the wires, interestingly Blackstone sold completely their ownerships in both MGM and Mandalay Bay in Vegas. I wonder if this was done to raise cash to meet these redemption requests? But they did make a shyt ton of money on those two properties, FWIW.
Last edited:
- Jun 19, 2014
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Founding Member
This is actually Ox's alter ego, many don't know that.....I believe GC was established as a Religious Charity as it is where many of us find some form of religion, good, bad or indifferent.
- Nov 19, 2014
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Here is an interview this AM with the Blackstone COO. This is about 1/3 of the entire interview but the rest of it was the same psyco babble that we have outperformed over the years and b/c we have such great performance investors are willing to sacrifice liquidity. And when asked about marking the assets more near the public values, it was the same our performance is so much better than the public REIT's etc.
- Jul 29, 2014
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While I don't(and pray) this isn't the most likely outcome it is very close to happening. If the Fed and lying ass BLS statistics won't let wage driven inflation come back to say 2-4% over the next 6 months this is a possibility. It would be a scenario where the Fed and Gov. would have to unleash QE into a highly inflationary enviro causing commodities and real holdings to go straight up like gold and silver.
Damn....pay link....anyway the basis of the story is pretty much what I outlined above and would include foreign countries massively dumping Treasuries.....it would almost be like a reverse of August 1971 putting the US government on the doorstep of insolvency.
Damn....pay link....anyway the basis of the story is pretty much what I outlined above and would include foreign countries massively dumping Treasuries.....it would almost be like a reverse of August 1971 putting the US government on the doorstep of insolvency.
- Nov 3, 2017
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- Nov 3, 2017
- 10,042
- 33,696
- Nov 3, 2017
- 10,042
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Thanks for all the good posts FF. And Happy New Year to you and yours as well. Let's hope 2023 is not a repeat of 2022. Statistics say a major bounce-back year is in the works, but potential black swans and macro headwinds have me doubtful. Let's hope the Fed cuts rates soon and all your 2022 bonds soar.
I still want to punch your avatar in the face every time I see a post by you.
I still want to punch your avatar in the face every time I see a post by you.
- Feb 15, 2016
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Whelp. My kids and grandkids lost 3/4 of a million dollars in paper money this year. I say kids and grandkids because I have sufficient retirement income to not need to use the investments. And my stocks outperformed the broad market by about 14%. And that doesn't count inflation. Thank you Brandon for all you support.
- Nov 3, 2017
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First off, congratulations on a well lived life filled with abundance. What do you mean you outperformed the broader market by 14%? Are you talking Dow (down -9.5%), S&P 500 (down 19.9%), or Nasdaq (down 33.5%)? I'll assume you mean the S&P500, down 20% YTD. If you beat the S&P by 14% That means you lost around 17%. So let see here, you lost 750K, divided by 17%.... that means.... OMG, you cheap bastard... you better start donating more to OX!
Let's hope for a monster rebound year in 2023. You have some lucky kids and grandkids. Good job B52.
Reminder: If they don't behave, you can always donate half to the Gator Collective. We need more expensive players.
- Feb 15, 2016
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Since I have world wide stocks, the broader market I was speaking of was global, down about 40 %. I lost about 27% since Brandon intervened. So yeah, I have done alright in investing over the last 45 years. Always tried to save at least 15% of take home and donate the same. Was hard when the kids were young but that was the goal.
- Nov 3, 2017
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Strong dollar killed ya. Should reverse as the rest of the world raises rates and we start to lower ours (let's go FED, you fuchs).
