Good article on Bloomberg the other day. While it’s relative to the catatonic financial market, its message is definitely relevant in the world of real estate.
Here’s the gem:
The U.S. slowdown may be shorter than expected and private equity investors should start searching for bargains after valuations tumbled this year, said Mark Mobius, executive chairman of Templeton Asset Management Ltd.
“I just don’t see a long, protracted recession,” Mobius, who manages about $40 billion in emerging market stocks, told the Super Return Asia conference in Hong Kong today. “There is an opportunity to buy low right now and sell high in the next cycle.”
Hmm — buy low….and sell high. Seems to have worked for the Donald, The Buffet Man, the Rockefellers, and countless others.