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Perfectly Wretched REITs: -1.41% in October, +4.6% YTD
“Anita: How are you? Cruella De Vil: Miserable, darling, as usual, perfectly wretched.” – 101 Dalmatians PERFORMANCE: Serenity Alternative Investments Fund I returned -1.41% net of fees in October vs the REIT index at -1.56%. Year to date (YTD), the fund has returned +4.6% vs +3.09% for the REIT index. WRETCHED REITS - Continued negative headlines have driven REITs to steeply discounted valuations. A MISERABLE DECADE – Lodging REITs have been dogs for about 10 years…but 20
Hype vs Reality in Data Centers: +0.03% in September, +6.1% YTD
“Man is the most intelligent of the animals – and the most silly” – Diogenes PERFORMANCE: Serenity Alternative Investments Fund I...
What's the deal with REITs? +4.34% in August, +6.1% YTD
“Grape-Nuts is a mysterious product. You open the box, pour it in the bowl, no grapes, no nuts. What’s the story?” – Jerry Seinfeld...
Starting from REIT Bottom: -1.6% in July, +5.9% LTM
“Started from the bottom now we’re here” – Drake PERFORMANCE: Serenity Alternative Investments Fund I returned -1.6% net of fees in July...
Quiet REIT Creativity: +1.41% in June, +14.2% LTM
“The monotony and solitude of a quiet life stimulates the creative mind” – Albert Einstein PERFORMANCE: Serenity Alternative Investments...
Forgot about REITs: +0.36% in May, +15.3% LTM
“Ya’ll know me, still the same OG, but I been low key” – Dr. Dre. "Forgot about Dre". (1999) PERFORMANCE: Serenity Alternative...
Attacking Market Uncertainty: +0.67% in April, +17.1% TTM
“Know yourself and you will win all battles” – Sun Tzu PERFORMANCE: Serenity Alternative Investments Fund I returned +0.67% net of fees...
De-Escalate with REITs: -0.49% in March, +10% TTM
“Boy, that escalated quickly…I mean, that really got out of hand fast” – Ron Burgundy (Anchorman) PERFORMANCE: Serenity Alternative...
Bessent's Three REIT Arrows: +4.09% in February, +11.8% TTM
“As I shuttled back and forth from New York to Tokyo on a monthly basis, it was inspiring over the years to watch a coordinated effort...
A Clear REIT Signal: -2.62% in January, +10.5% TTM
“Can you hear me now? ” - Verizon (2002) PERFORMANCE: Serenity Alternative Investments Fund I returned -2.62% net of fees in January vs...
REITs vs Inflation: -6.26% in December, +14.3% YTD
“Viggo: They call him “Baba Yaga.” Iosef: The Boogeyman?” - John Wick (2014) PERFORMANCE: Serenity Alternative Investments Fund I...
BRIGHT LIGHTS IN CRE: +3.27% in November, +22.0% YTD
“Two hundred fifty strands of lights, 100 individual bulbs per strand, for a grand total of 25,000 imported Italian twinkle lights!”...
Post Election REIT Winners: -0.55% in October, +18.1% YTD
“ARE YOU NOT ENTERTAINED?" – Maximus, Gladiator (2000) PERFORMANCE: Serenity Alternative Investments Fund I returned -0.55% net of fees...
REIT Rocket-Fuel: +2.94% in September, +18.8% YTD
“Rockets are cool. There’s no getting around that" – Elon Musk PERFORMANCE: Serenity Alternative Investments Fund I returned +2.94% net...
A REIT Revolution: +5.11% in August, +15.36% YTD
“I found the crown of France in the gutter. I picked it up with the tip of my sword and cleaned it, and placed it atop my own head." –...
REITs Power Higher: +6.08% in July, +9.75% YTD
“I HAVE THE POWER!!!" – He-Man PERFORMANCE: Serenity Alternative Investments Fund I returned +6.08% net of fees in July vs the REIT index...
REITs: A Dual Threat +2.47% in June, +3.46% YTD
“If you look good, you feel good. If you feel good, you play good. If you play good, they pay good.” – Deion Sanders PERFORMANCE:...
Pounding the table on REITs: Dumb or Dumber? +1.87% in May, +1.01% YTD
"We got no food, we got no jobs, our pets heads are falling off!” – Lloyd Christmas: Dumb and Dumber PERFORMANCE: Serenity...
Turmoil and Progress: -5.4% in April, -0.85% YTD
“Economic progress, in capitalist society, means turmoil.” – Joseph Schumpeter PERFORMANCE: Serenity Alternative Investments Fund I...
Serenity + Blackstone? +1.15% in March, +4.8% YTD
“Veronica: Oh, well, when in Rome. Ron Burgundy: Yes? Please go on." - Anchorman PERFORMANCE: Serenity Alternative Investments Fund I...
REIT Acceleration: +2.87% in February, +3.6% YTD
“I think my acceleration is very good. That's the key for me. ” – Usain Bolt PERFORMANCE: Serenity Alternative Investments Fund I...
Serenity Now: Q1 2024 Mid-Quarter REIT Update
“Tomorrow does not exist. There is only now.” – James Clavell, Shōgun PERFORMANCE: Serenity Alternative Investments Fund I returned...
Navigating the Bottom: November 2023 in REITs
“Right full rudder, reverse starboard engine" – Captain Marko Ramius - The Hunt for Red October PERFORMANCE: Serenity Alternative...
The Winter of REIT Discontent: October 2023
“Now is the winter of our discontent…made glorious summer by this son of York – Shakespeare's Richard III PERFORMANCE: Serenity...
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