Row 61716

Row ID: 61716 | Dataset Entry | Axioma AXP Content Repository

Content Data

This page contains data entry 61716 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

I'd rather own BX (or APO) that benefits from fund fees than their illiquid private REIT that can gate withdrawals for quarters on end.

"Non-traded REITs, which are registered so as to have the widest possible set of buyers but unlisted to discourage analyst coverage, attract the ethically challenged as fund managers. Almost a decade ago we published Inland American Realty Runs Its Own Hotel California, concluding that disclosing how many ways you intend to fleece your investors can provide some defense when the SEC takes a close look. Non-traded REITs don’t perform regular appraisals, which has led their promoters to disingenuously extoll the consequent “absence of public market volatility.” For more, see Unlisted, Registered REITs; an Investment Designed for Brokers, and also chapter one of my 2015 book Wall Street Potholes." From 2022: https://sl-advisors.com/is-breit-marked-to-market

"Yesterday, I was at a conference and I picked up a brochure from one firm titled, “The Case For Investing in Non-Traded REITs”. Among the supposed advantages are, “Illiquidity that favors the long term investor.” Are they serious? How does illiquidity favor any kind of investor, short term or long term?? It favors the issuer, because there’s no public market to expose how poorly their securities are valued. Another related benefit is that they are, “Not subject to public market volatility.” But again, public markets allow you to exit your investment. It’s your choice, you can always decide to ignore the information public markets give you, but as with most information it’s better to have it than not." https://sl-advisors.com/unlisted-registered-reits-an-investment-designed-for-brokers

I've never understood the appeal of non-traded REITs and there have been plenty of negative examples that have made them seem quite unappealing.

Field	Value
text	I'd rather own BX (or APO) that benefits from fund fees than their illiquid private REIT that can gate withdrawals for quarters on end. "Non-traded REITs, which are registered so as to have the widest possible set of buyers but unlisted to discourage analyst coverage, attract the ethically challenged as fund managers. Almost a decade ago we published Inland American Realty Runs Its Own Hotel California, concluding that disclosing how many ways you intend to fleece your investors can provide som…
label	r/investing
dataType	comment
communityName	r/investing
datetime	2024-05-23
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Raw Record

{
  "text": "I'd rather own BX (or APO) that benefits from fund fees than their illiquid private REIT that can gate withdrawals for quarters on end.\n\n\"Non-traded REITs, which are registered so as to have the widest possible set of buyers but unlisted to discourage analyst coverage, attract the ethically challenged as fund managers. Almost a decade ago we published Inland American Realty Runs Its Own Hotel California, concluding that disclosing how many ways you intend to fleece your investors can provide some defense when the SEC takes a close look. Non-traded REITs don’t perform regular appraisals, which has led their promoters to disingenuously extoll the consequent “absence of public market volatility.” For more, see Unlisted, Registered REITs; an Investment Designed for Brokers, and also chapter one of my 2015 book Wall Street Potholes.\" From 2022: https://sl-advisors.com/is-breit-marked-to-market\n\n\"Yesterday, I was at a conference and I picked up a brochure from one firm titled, “The Case For Investing in Non-Traded REITs”. Among the supposed advantages are, “Illiquidity that favors the long term investor.” Are they serious? How does illiquidity favor any kind of investor, short term or long term?? It favors the issuer, because there’s no public market to expose how poorly their securities are valued. Another related benefit is that they are, “Not subject to public market volatility.” But again, public markets allow you to exit your investment. It’s your choice, you can always decide to ignore the information public markets give you, but as with most information it’s better to have it than not.\" https://sl-advisors.com/unlisted-registered-reits-an-investment-designed-for-brokers\n\nI've never understood the appeal of non-traded REITs and there have been plenty of negative examples that have made them seem quite unappealing.",
  "label": "r/investing",
  "dataType": "comment",
  "communityName": "r/investing",
  "datetime": "2024-05-23",
  "username_encoded": "Z0FBQUFBQm5Lak1aVFdGQy1pN1VWQXg0RTJDMmJ6eVpaUjFibzRkajFyZXVVT2hYUkp5bS1CYXZhaFBxN285a0JKenVoX2FfVnh3eXJyNGxFTk91ZDZhdm5GZHRxQTUxT3c9PQ==",
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}

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Entry Information

Entry ID: 61716
Repository: Axioma AXP
Dataset: arrmlet/reddit_dataset_36
Total Entries: 100,000