Getting Rich Quick, Slowly
Another Day in REIT Paradise
(Photo source: Canva.com)
Big news broke yesterday. Warren Buffett is buying again and this time it’s shares in Hewlett-Packard (HP). According to Yahoo! Finance:
Buffett’s Berkshire Hathaway revealed it owned 121 million shares of HP in a new filing Wednesday evening. The investment—valued at $4.2 billion—gives Berkshire Hathaway a roughly 11.4% stake in HP.
But that’s not the only headline involving Buffett…
At a bitcoin conference in Miami, Peter Thiel, billionaire venture capitalist and bitcoin enthusiast, called Buffett crypto’s “enemy No. 1” and a “sociopathic grandpa from Omaha.”
(According to NBC Today, “Miami is aiming to establish itself as the center of the crypto universe.”)
Thiel’s frustration follows Buffett not only disapproving of cryptocurrency… but actively trying to throttle it. As reported by CNBC, Buffett “invested $1 billion in Brazil’s Nubank, an online bank that’s popular among crypto investors.”
The bank originally supported progress toward cryptocurrency becoming more mainstream… but notably slowed its enthusiasm after Buffett’s investment.
Now, as you know, I like to stick to what I know—and my only tangential connection to the crypto world is my son’s success investing. So I have no opinion on who’s right in the Thiel/Buffett debate.
I prefer to stay in my REIT world.
More Non-REIT News
Speaking of billionaires, Forbes released its annual World’s Billionaires List.
The list includes 2,668 billionaires worldwide, worth a combined total of $12.7 trillion. That’s down from 2021’s record 2,755, as the pandemic aftermath knocked 329 members off the list.
I do know a billionaire or two—notably, real estate maestro Sam Zell, who wrote a testimonial for my newest book, The Intelligent REIT Investor Guide.
While most of us will never be billionaires, we’re all capable of generating life-changing wealth.
Every day on this website, you’ll find REIT investing insights, principles, and ideas to help point you in that direction.
Our expanding expert team at Wide Moat Research are dedicated to providing you with the best, actionable information.
World According to REITs
GlobeNewswire announced this morning that the board of trustees for LXP Industrial Trust (LXP) “has unanimously determined to suspend the company’s previously announced evaluation of strategic alternatives.“
Apparently, it was considering a lot of changes to its overall strategy, but after looking into other options, it realized, “If it ain’t broke don’t fix it.”
T. Wilson Eglin, LXP’s CEO, president, and chairman, noted:
[O]ver the last five years, we have successfully transformed LXP into a leading, predominantly single-tenant industrial REIT with a much stronger portfolio and driven relative outperformance and substantial shareholder value. Throughout the strategic review process, we received clear feedback reaffirming the merits of LXP’s strategy and transformation, which has created a robust platform for continued growth.
It’s always good to examine new and innovative strategies to capitalize on growth, but there’s also something to be said for a system that is working. Unless a new system will cover the cost of an operational makeover, it’s not worth it. I have to keep that in mind with my own company, as well.
Finally, without further adieu, below are yesterday’s top 10 REIT movers.
Here’s to the weekend! Happy Friday, everyone!