Richard Kang1

Beware New Real Estate Investment Products

Slavo

Thanks for your critique. I’ve been writing for Seeking Alpha for nearly 4 months now and there’s nothing that will improve me more than constructive criticism. Whether your criticisms are truly constructive, I’m not so sure.

You’re right that my argument is less than perfect. In my view, what I provide is less of an argument and more an observation on the behavior of both investors and the industry that provides investment vehicles to them. Nevertheless, I could have made it clearer that possible bubbles in product development are somewhat analogous to bubbles in asset prices (for a particular asset class or strategy).

I did a google search on you and see you're also in the industry. Feel free to email me at my office, [e-mail] to discuss further privately.

Best