Enjoyed reading your first Journal this morning, discussed it on the 19th hole over lunch today with two Golf centric investors in Harrison, NY and forwarded this link and Ted Talk video to them. Congratulations on your retirement from corporate life and yes I agree the secret to a successful long professional career and life is the quality of your relationships. You have been a good friend to me since 2003 and I value our friendship.
Good read, thank you. Fully agree that both banks and CRE are facing considerable headwinds! Not sure whether the maturity profile for commercial real estate includes the legacy loans from 1.0 CMBS that are still in special servicing? And on the banks: I've read that in the US Hold-to-Maturity books are largely unhedged as hedge accounting is not available, resulting in significant mark-to-market losses in the treasury portfolios held; yet another reason for depositors to take their money elsewhere ...
Enjoyed reading your first Journal this morning, discussed it on the 19th hole over lunch today with two Golf centric investors in Harrison, NY and forwarded this link and Ted Talk video to them. Congratulations on your retirement from corporate life and yes I agree the secret to a successful long professional career and life is the quality of your relationships. You have been a good friend to me since 2003 and I value our friendship.
Good read, thank you. Fully agree that both banks and CRE are facing considerable headwinds! Not sure whether the maturity profile for commercial real estate includes the legacy loans from 1.0 CMBS that are still in special servicing? And on the banks: I've read that in the US Hold-to-Maturity books are largely unhedged as hedge accounting is not available, resulting in significant mark-to-market losses in the treasury portfolios held; yet another reason for depositors to take their money elsewhere ...