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Another Day In REIT Paradise: I’m Fine With The Slower Pace

May 24, 2021 10:04 AM ETPGRE, PINE
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  • Happy Monday, all.
  • I hope you had a great weekend and are ready to get back to work.
  • Bitcoin has now fallen 50% from its 2021 high of $64,895.22 down to $32,601 after tanking another 12% yesterday.
  • I just don’t have the patience for cryptocurrency – a state of mind (or lack thereof) I’m more than happy to continue with.

Quote of the Day:

“Patience is waiting. Not passive waiting. That is laziness. But to keep going when the going is hard and slow – that is patience. The two most powerful warriors are patience and time.” – Leo Tolstoy

A person sitting on the beach Description automatically generated with medium confidence

(Source: Storyblocks)

Happy Monday, all. I hope you had a great weekend and are ready to get back to work.

(In case you missed it, read me weekend blog here)

Since most of us really have no choice in that one way or the other, let’s put on our game face and dive into what happened from Friday afternoon onward. Specifically, I’d like to point to Making Money With Charles Payne, where said host pointed this out:

“So when people ask me, ‘Is the stock market a casino?’ I say, ‘Only if you make it a casino.’ And what I mean by that is unrealistic expectations, emotional actions… [and] inconsistent approaches to the market increase the risk...

“Now, honestly, how many times have you sold a stock simply because it was down? How many times have you loaded up on a stock on a whim? Do you have any idea what kind of profit margins or the direction that those margins are in the names of your portfolio?”

This brings me to cryptocurrency, which I still maintain is speculating. Bitcoin has now fallen 50% from its 2021 high of $64,895.22 down to $32,601 after tanking another 12% yesterday. And Dogecoin reversed 15% of its former gains.

I’m really not trying to be “that guy” who keeps complaining about the kids across the street with their garage band. I get they could make it big with their loud tunes and edgy projections.

But, as Payne went on to say:

“Listen, I think I’m a pretty good poker player. But I’ve tried at casinos and I will tell you right now, I do not have the patience needed to make big money. And I bring that up because [day traders, speculators, and gamblers] need more patience – often more patience than buy-and-hold investors.”

Similarly, I guess I just don’t have the patience for cryptocurrency – a state of mind (or lack thereof) I’m more than happy to continue with. It’s working perfectly well for me so far…

With much better chances of success too.

The World According to REITs

For the first time in a while, we have very little to report when it comes to real estate investment trusts. Who knows what tomorrow will bring, but The Daily REITBeat only has these two updates for today:

  1. Alpine Income Property Trust (PINE) executed a new five-year unsecured loan for $60 million that matures in May 2026 with a 2.16% initial rate and an accordion option for up to $160 million. The money will be used for acquisitions and to pay down Apline’s unsecured revolving credit facility.
  2. Paramount Group (PGRE) is now a Fitwel Champion, a certification system run by the Center for Active Design – a joint initiative between the CDC and General Services Administration – to promote positive health outcomes for building occupants.

I guess, if we need a third REIT story, it’s that I should have waited to speak before mentioning last week that we were down to mere mid-single-digit moves. The chart below shows that there’s still more volatility to be waded through.

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(Source: The Daily REITBeat)

Don’t Stay One Step Behind

If the markets make you overly fearful, leaving you left out of big profits… or overly greedy, thereby bloodied, bruised, and bewildered…

It’s high time you take a more steady navigational tack.

There are always going to be bull markets and bear markets around the next bend. And there’s no way to predict exactly which one will happen when. History has shown a thoroughly appalling track record when it comes to trying to time such things.

So why bother trying at all?

Instead, try timing individual stocks, evaluating each one on its own merits and price potential. Is it a worthwhile company that can bolster your portfolio for months, years, or even decades on end? And can you get it for a good value, if not a bargain?

Those are the kinds of questions iREIT on Alpha asks every day, providing worthwhile answers to our members through:

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Thank you for the opportunity to be of service!

CEO of Wide Moat Research and Editor of Forbes Real Estate Investor

Analyst's Disclosure: I am/we are long PINE.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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