Letter from Denver I recently was in Phoenix to research the current state of that city’s office market and came across what seemed to be a puzzling statistic: the current Phoenix office vacancy rate is reported at 19%, much higher than in most office markets around the U.S. (by comparison, Denver’s office vacancy is currently […]

Carta de Querétaro Primera parte: Los ETF Segunda parte: Renta variable y fija En esta tercera parte de un manual básico de asignación de activos mediante fondos cotizados en bolsa (ETF), explico qué es una asignación y cómo puedo expresar una estrategia como una asignación de activos. También explico el concepto de rebalanceo del portafolio. […]

Carta de Querétaro Primera parte: Los ETF Aquí y con clientes, tanto enfatizo la importancia de una amplia diversificación de cartera que parezco disco rayado.[1] Y recalco que una adecuada diversificación reparte el riesgo del portafolio no sólo entre regiones y divisas sino también entre clases de activos. Hoy continúo con mi compendio básico de […]

Letter from Denver Last in a series of “catchup” blog entries on noteworthy articles on U.S. commercial real estate (CRE) that have come across my screen since last February. I was struck by this headline from the Wall Street Journal: Turning point? U.S. commercial-property sales plunge in February($). I feel this is alarmist, as it […]

Letter from Denver Catch-up blog entry number three in a series! Morgan Stanley Says U.S. Commercial Real Estate Price Growth Will Be Flat contains a useful reminder investors that commercial real estate (“CRE”) returns are highly impacted by leverage but that people don’t always appreciate how quickly returns adjust when debt market conditions change—one more […]

Letter from Denver This is the second in a series of catchup blog entries in which I share links to pieces that have come across my screen since last February on US commercial real estate and that I’ve been wanting to share with TransEconomics clients and other La Carpeta Negra readers. In Office Employment Growth […]

Letter from Denver As some of you already know, I’m Genevieve’s new International Real Estate Partner at TransEconomics. This is my first blog entry at La Carpeta Negra. It’s a privilege to be on board! My comments today pertain to a February Wall Street Journal article, Warning Light Flashes for the Commercial Property Boom($), that […]

Carta de Querétaro A veces olvido que no todo el mundo maneja el mismo vocabulario que yo hasta que un cliente me sensibiliza volteándome el asunto: experto que es en su propia industria, comienza a hablarme a millón por hora de su trabajo y me pierdo en el vocabulario. “¡Momento!” le paro. “No te estoy […]