13 Comments

Agreed, but the Fed is also in a negative equity position. along with Bank of America. Meanwhile the US markets move higher.

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Nov 28, 2023Liked by The Blind Squirrel

Agree on Grey, but Schartzman looks a bit like Joe Biden. With higher rates, the BREIT model doesn't work.

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Arguably BREIT has already failed... ;)

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Nov 28, 2023Liked by The Blind Squirrel

It does. I just signed up for your site yesterday. I look forward to chatting with you. I'm in the CRE space in the SE US. If you ever need content, please reach out. I'm based in a "not the real world" of Naples, FL. I love Australia. I have been there a few times. Hanging around Darling Habor is awesome.

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Please ping me any time. I would also love to hear what is going in the CRE trenches. It's a pretty important part of my Blackstone thesis. BREIT is supposed to be pretty big in the sunbelt. I am in Melbourne. More rain than Darling Harbor!!

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Nov 28, 2023Liked by The Blind Squirrel

Ok. my email is timmclean9@gamil.com I always prefer Sydney over Melbourne. No offense. I think BREIT has issues. Swartzman was on Bloomberg today. I think he needs to retire and hand over the reins to Jon Grey.

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Great! I like Sydney but came to Melbourne for Mrs. 🐿️! Have just mailed you about the Discord and hats! Isn't Grey the last person that is going to show the tough love to the RE side of BX?

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I'm in the CRE debt world and most of my firm is on suicide watch.

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It is hell in the intermediary world when markets turn down / go flat. I have got that particular T-Shirt and really hope that the article comes off as empathetic, Tim!

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Nov 27, 2023Liked by The Blind Squirrel

I think Citi going into private credit is comparable to their former CEO, Chuck Prince saying, in July 2007, "As long as the music is playing, you've got to get up and dance."

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Ha Tim. I was there when that comment was made! It was one of my cues to leave!

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Nov 27, 2023Liked by The Blind Squirrel

You have a Legal department, too? We should consolidate operations to gain economy of scale. ;)

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It's on the house Motown! Mrs. 🐿️ is a lawyer!

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