Greenfield Advisors

11/15/2023

https://www.msn.com/en-us/travel/other/plane-forced-to-return-to-jfk-airport-after-horse-on-board-gets-loose/ar-AA1jW7Bn

So you all know Chewbacca, right? Our 6-pound trained attack killer pomegranate (auto correct) who flies with us everywhere. The airlines are always paranoid about Chewie staying in his little soft-sided case, lest he escape down the aisle and wreck havoc in the skies.

Apparently, though, they don’t take the same level of care with horses. Next time I fly, I’ll declare him to be a Clydesdale or Percheron or some such…

12/07/2021

Just posted the November results for ACCRE, our in-house REIT fund-of-funds. We hope you find this interesting and useful!

It was a rough month for the S&P 500, but a great month for ACCRE. This was exactly the sort of roiling market for which ACCRE was designed, and it paid off handsomely. To be specific, the S&am…

11/29/2021

Just posted an article about the economy and the stock market. I hope you find this useful!

We hope all of you had a great Thanksgiving, and any indigestion you felt Friday was from too much turkey rather than too much stock market. The broader stock market indices had a terrible day Frid…

11/17/2021

Just posted an article about Zillow's exit from the direct home investment biz. I hope you find this interesting and useful!

In MBA school, students learn about economies of scale. The concept is pretty simple — the more of something you do, the more you can flatting out overhead. Let’s put this in the most b…

11/10/2021

Just posted the October monthly report for ACCRE, our in-house REIT fund of funds. Hope you find this useful!

It’s been a busy month, both for the stock market and here at Greenfield! First the S&P 500 — our primary benchmark — scored one of it’s best months all year, up 6.91% b…

10/12/2021

Some thoughts on the impending Chinese real estate finance problem. It will be fascinating to see how this unfolds in the coming weeks. As always, if we can answer any questions about this, please let me know.

In many ways, the explosive growth of the built environment in China has been breathtaking. In my adult life, they’ve moved about 500 million people out of rural peasantry into urban dwelling…

10/05/2021

Just posted a piece on the real estate implications of the California oil spill. I'll update this as we know more.

Oil spills have a very real economic impact on real property, both private and public real estate. Value diminution includes, but is not limited to, loss of use-and-enjoyment, marketability losses,…

09/14/2021

Just posted the August results for ACCRE, our in-house REIT fund of funds. I hope you find this interesting!

Sorry we’re running late this month — Labor Day travels and such really got us behind the curve. One challenge of running a “hedged fund” is that when the market is going st…

08/23/2021

I just posted an article titled "Investing in Single Family Rental Housing". I hope you find this useful!

Last week, I had the very real pleasure of speaking to partners in several boutique law firms about real estate, and specifically about issues facing their clients who invest in single family renta…

08/17/2021

Just posted an article about ESG (environmental -- social -- governance) investing. I hope you find this informative!

ESG is an acronym for “Environment, Social, and Governance.” It is the current buzz-word in the industry for what was formerly called “green building”, although as you can t…

08/03/2021

Just posted the July results for ACCRE, Greenfield's in-house REIT fund-of-funds. I hope you find this useful!

July was a “boringly good” month. I say that because ACCRE and other portfolio components all performed extremely well. ACCRE slightly outperformed the S&P (2.68% versus 2.27%) but …

07/23/2021

Just posted a piece on "repeat sales analysis", a useful valuation tool when using small or heterogeneous asset data sets. I hope some of you find this useful!

It’s always nice to be cited in someone else’s research paper! Case in point, a nicely done real estate paper written by three young scholars out of U. Aukland and U. Hong Kong just hit…