Archive - Oct 22, 2009

• Asian stocks fall as bank loan-loss speculation raises valuation concerns.
• China's economy expands 8.9% in Q3, fastest pace in a year, on stimulus, lending.
• Euro rises above $1.50 for first time since August '08 on recovery outlook.
• Leading Index in U.S. probably rose for sixth month in sign of expansion.
• Russia warns of reduced access to credit, signalling cut in interest rates.
• Sept's regional, state unemployment rates climbed in 23 states and the District of Columbia.

The REIT space has seen share prices pop significantly in this extended bear market rally. This, along with a few financial shenanigans, seems to have masked the effect that a literal real estate depression has had on those entities which buy, sell, develop and hold real estate. The fundamentals and macro outlook are still horrendous, yet share prices have been elevated significantly. Ackman, from Pershing Square, has released his short thesis on the REIT Realty Income, and I throw my 22 cents in (it was 2 cents, but I levered up 10x), as well as offer another REIT with a greater cash flow problem...