Monthly Letter

new year...same old sh*t
New Year…Same old Sh*t!

Enshittification: The gradual deterioration of a service or product brought about by a reduction in the quality of service provided. ~ Macquarie Dictionary, word of the year 2024. This month we are going to skip Nick’s Numbers and the story because there is a new law (AB 2992) which affects

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November 1 Monthly Letter Image 1
You can’t please all of the people all of the time!

The now-famous Democratic donkey was first associated with Democrat Andrew Jackson’s 1828 presidential campaign. His opponents called him a jackass (donkey), and Jackson decided to use the image of the strong-willed animal on his campaign posters. Later, cartoonist Thomas Nast used the Democratic donkey in newspaper cartoons and made the

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August 1 2024 monthly letter
Do you have Ganbatte in this real estate market?

The term “ganbatte” is a Japanese art form that means “do your best” or “keep going.” “Ganbatte! The Japanese Art of Always Moving Forward” by Albert Liebermann explains this Japanese philosophy of perseverance, resilience, and continuous improvement. I recently read that a “positive personal personality preserves athletic performance by decelerating

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ML June 2024
Are you experiencing shrinkage?

Markets are a field where dumb things sometimes work. Ignorance can win; and experience can lose. This is just the nature of the game. Best to accept occasional absurdities then to shoulder the distraction of anger over them. Time cures most of these episodes anyway. ~ Ed Borgato I know

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Do you have trapped equity?

Wade Boggs, Steve Garvey and Pete Rose are in a bar. Boggs says, “I am going to ask her out.” Garvey replied, “You can’t do that, she’s carrying my baby.” To which Pete Rose added, “You wanna bet? Last year’s extensions and loan term modifications helped mask early distress signals

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