Ryan Bushell

Family, dividends, golf… in that order

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap Just buy 2.5%… only part of a well diversified portfolio!

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap Maybe diversify… I’ve got a telco trading crazy cheap with a great ceo coming in!

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap And they especially vacate the third rate properties owned by public vehicles

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap If rates fall people vacate apartments and buy houses

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap So you’ve got 40% of your portfolio riding on that ? I have no idea what will happen to long bonds either but I wouldn’t bet 40% of my portfolio on sun belt apartments without a strong view to rates staying high hurting affordability of homes

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap So basically you just sit on twitter and criticize others picks while concentrating your portfolio on sunbelt apartments without a view on mortgage rates?

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap Might as well promote it!

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap What’s the name?

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap What is the other 60%?

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap Where is the biggest exposure? What states?

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap You know no one likes renting an apartment right? You are long inverse 30 year rates… if the mortgage rate drops in the US apartments get shelled…. What is your view on long bonds?

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap That’s too concentrated

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap This is all good until things go badly… I don’t risk my clients capital on 3rd rate assets

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap This is what is funny about the REIT space… the best vehicles are private… they only go public to monetize/churn… wit the exception of a very few cases buying a public reit is buying a 3rd rate company in sector but because the public comps are worse it looks good

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap Do you really think the publicly listed vehicles are at the top of the apartment food chain?

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap I doubled my personal position at $16… let’s see where things are at in 5-10…. Years

[Ryan Bushell @NewhavenPM]

@tsxman @zethuscap Everything I do is to try to safeguard client capital by not buying hype, I don’t have a perfect track record, but I stick with a discipline that focuses on buying quality assets at reasonable prices… the setup for T is as good as I’ve seen at $14…