Logan Stepan

#kALS

[Logan Stepan @Step2Logan]

Make the team fuckin walk home

[Logan Stepan @Step2Logan]

Right in the midst of a 5-0 start for the Vikes too smh lock Kyler’s ass in the film room.

[CharlieIntel @charlieINTEL]

Call of Duty: Modern Warfare 4 is available now worldwide

[Logan Stepan @Step2Logan]

You always see the argument “if x went back and played in college, how much would they dominate?” across the big four - sincerely tho if Connor McDavid went and played college hockey right now how much would he dominate? He’d score 10 goals a game.

[Logan Stepan @Step2Logan]

This is an embarrassment.

[Logan Stepan @Step2Logan]

Clearly neither the Goofs players nor fans are used to physical play. Bunch of babies complaining after every hit

[Logan Stepan @Step2Logan]

JACK ATTACK!

[Logan Stepan @Step2Logan]

Reschny owns the faceoff circle

[Logan Stepan @Step2Logan]

Goddammit I love this rivalry

[Logan Stepan @Step2Logan]

Gonna need Carson Carels to stop acting like such a freshman before it comes back to bite him.

[Logan Stepan @Step2Logan]

Wake up call after game 1?

[Duane Rankin @DuaneRankin]

"This is definitely a wakeup call for us. I'm glad it happened early."

Devin Booker after Suns 124-83 loss to Blazers as they trailed by 31 at the end of one.

"Everything went wrong. We have a lot to learn from the tape offensively and defensively. I think they were killing us with their pace, forcing us into tough shots. Playing the deep drop. We knew it coming, but I think their guards did a good job of being active on the ball handler and forcing us into just being hesitant."

Booker 23 points, didn't attempt a 3 (minus-43): "You can always do everything better in a loss like that. Trying to find the flow. We have some work to do and we have some things to learn from." #Suns #RipCity

[Logan Stepan @Step2Logan]

Clean hit.

[Jordan Schmaltz @J_Swish24]

The best rivalry in college hockey is back tonight as the North Dakota Fighting Sioux are behind enemy lines visiting the Minnesota Golden Goofballs at Marucci Arena in the guts of DinkyTown. It's time to go Gopher hunting but more importantly it's time to go Chin Hunting. I bet that arena will be painted 70%+ green tonight!! There are no fans even close to SIOUX FANS !! @UNDmhockey

[Jordan Schmaltz @J_Swish24]

The best rivalry in college hockey is back tonight as the North Dakota Fighting Sioux are behind enemy lines visiting the Minnesota Golden Goofballs at Marucci Arena in the guts of DinkyTown. It's time to go Gopher hunting but more importantly it's time to go Chin Hunting. I bet that arena will be painted 70%+ green tonight!! There are no fans even close to SIOUX FANS !! @UNDmhockey

[m. stanfield @resetbasis]

Dinner with an exec/friend at a large national property management company tonight. This person oversees ~150k apartments; access to an insane amount of data.

Current multifamily market in most of the country is worse than S&L, .com bust, or the GFC. Worst they’ve seen.

Class A mostly fine, decent rent growth. However:
- credit scores at class A have gone down meaningfully over the past 3 years.
- more people are paying rent via credit card.
- average bank account balance noticeably lower than even 2 years ago
- class A tenants stretched thin, living beyond their means. 20k comes in, 20k goes out every month.
- starting to see these renters move down a tier

Class B:
- simply too many apartments, we built too much new stuff. Ripple effect is enormous.
- fewer renters tomorrow than today. Same store foot traffic noticeably down year over year. Some markets down 40-50%
- considering dropping rents below $700 a month on some 1beds in major southern markets.

Class C:
- looking at degrading NOI. Rents aren’t growing for a long time, but expenses keep creeping up
- more renters are one missed paycheck away from disaster than they can remember seeing in decades
- tenants aren’t paying rent because they simply don’t have it
- wage growth has not kept up

Lenders:
- some major investment funds, household names, haven’t paid their mortgages in 2-3 years. Banks won’t foreclose because “X is a big client.” Mexican standoff.
- a roof leak gets ignored, becomes water damage, then mold, then a down building. Buildings are rapidly deteriorating as some owners choose cash preservation over funding losses.
- number of pre-foreclosure and REO deals is the highest as a % of total units they can recall.
- data providers know it’s bad, but they’re paid to sell optimism to owners/lenders. So every forecast is “it will probably get a little better next year maybe” and that gets regurgitated at investment committees all over.

I asked “how do you think this ends?”

“Not sure. My gut says slowly then suddenly, and things will get really bad. Been doing this 40 years, you can feel it in the air. But, there’s a chance it’s just a decade of tolerable pain. I’m praying for that.”

[Logan Stepan @Step2Logan]

Gameday. Fuck the gophers.

[Logan Stepan @Step2Logan]

People are more than welcome to go to a Pelicans game for $20 you dumb commie bastard.

Since when are sporting events a human right?

[Sen. Bernie Sanders @SenSanders]

As the NBA season begins this week, remember:

26 out of 30 NBA owners are billionaires — getting richer every day.

Meanwhile, the average ticket price to see the Knicks play the Sixers last night cost $1,894.

No. You should not have to be rich to take your kids to a ball game.

[Logan Stepan @Step2Logan]

Omfg the ending 😭😭😭😭😭😭😭

[Dunder Mifflin @DunderMifflinAS]

The infamous banned Halloween cold open from The Office that you won’t find on @peacock or @netflix. Michael Scott really had no boundaries.

[Logan Stepan @Step2Logan]

5 years free rent and $5M in capex/TI allowance and they still hit ‘em with a “we’ll see”. Wowza.

[Minneapolis/St.Paul Business Journal @MSPBJnews]

What will it take to lure a big tenant to downtown St. Paul: planning, coordination and maybe five years free rent. That's what one prominent real estate investor is offering, leveraging the big discount he got on buying the property to sweeten the deal. https://t.co/ylqW3XITpC

[Logan Stepan @Step2Logan]

@lhamtil Not anymore.

[Logan Stepan @Step2Logan]

Took me way too long to realize no one gives a fuck how pretty my memos look or how seamless my models work together in excel.

All that matters is the story I can tell within the memo. That I truly understand what I’m presenting and have the narrative to support my thesis.

[UnstructuredCap @UnstructuredCap]

If you think you're modeling skills are what's going to give you a long term career edge, you are wrong:

> Thousands of hours spent developing the skill
> Clueless nepo interns building crazy models
> Tasks that would take 1hr+ are done in 2 mins

You need to find a new edge

[NBER @nberpubs]

California's Billionaire Tax Act would collect roughly $30 billion. Accounting for lost income taxes from departures, the mean Net Present Value is negative $39 billion, from Benjamin Jaros and Joshua Rauh https://t.co/hoS1OYeXvK