Gary Carmell
“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”
-Albert Einstein
Waldorf Astoria Recent Sale Showing the Benefit of Long-Term Real Estate Ownership and Compound Interest
Another quick one this week given how busy a week it was.
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Gary Carmell
From Obama
This post is a blatant application of hindsight bias. We all now know that when Barack Obama won the election and subsequently took office, the economy was melting down and the financial markets were in a free fall around the globe. To refresh your memory, there was the bailout of AIG by the Fed,
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Gary Carmell
I have often made the case that apartments and home rentals are highly valuable because of the flexibility they provide people to move for whatever reason. Housing became way over-owned in the 2000s and this did great damage to our economy and society. I finally came across some interesting research that explored how damaging it was for underwater homeowners in terms of limiting their geographic flexibility to seek out employment and how this impacted their long-term earning power.
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Gary Carmell
[UPDATED – January 25, 2017] The DOW opened today above 20,000. The rally from 19,000 to 20,000 was one of the fastest in history. What do these numbers mean? We need to look back at the following from 2015 looking at the historical data.
Last week [August 2015] was one wild ride for stock markets around the world.
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Gary Carmell
With the college football NCAA National Championship game taking place on January 9, 2017, I thought it would be apropos to write about a fascinating study about how emotions can negatively impact people’s lives when decisions are made. The paper is called Emotional Judges and Unlucky Juveniles.
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Gary Carmell
With Bob Dylan having been awarded the Nobel Prize for Literature over the weekend I thought I would honor him by being very self-indulgent and creating my own lyrics to Blowin’ in the Wind. I have often found that taking the time to figure out the most important questions to ask can be more mind expanding and powerful than just focused on getting answers.
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Gary Carmell
I was struck by the powerful insights set forth in an article I read recently on Bloomberg. The premise is that Donald Trump is the first post-literate President. Prior to the written word, and I would also add subsequently the printing press,
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Gary Carmell
One of the driving forces in the economy and society that has made us bullish on apartments is what I like to call “Insecure Growth.” It’s a situation in which the economy continues to grow, albeit slowly, jobs are materializing, and households continue to be formed and yet there is an underlying insecurity and anxiety about job security and how long one might be in a particular location.
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Gary Carmell
“The only way to make sense out of change is to plunge into it, move with it, and join the dance.”
-Alan Watts
David Byrne famously sang “Watch out, you might get what you’re after” in Burning Down the House.
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Gary Carmell
It is estimated that over 40 million people watched the riveting game seven of the World Series between the Chicago Cubs and Cleveland Indians. Having grown up in Chicago and being a former peanut vendor at Wrigley Field and Comiskey Park (where the White Sox used to play) I was emotionally invested in the Cubs.
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