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Barmer Wohnungsbau, catalyst, commercial property, convergence, correlation, Deutsche Wohnen, EPRA NAV, German bunds, German property, Germany, Karl Ehlerding, KWG Kommunale Wohnen, large cap stocks, marathon, NAV, NAV discount, NAV premium, Net LTV, North Rhine-Westphalia, Price/Book, REIT/MLP sector, rental yield, residential property, Sirius Real Estate, small cap stocks, Stavros Efremidis, Taliesin, value investing
Continued from here. A 5-part series might seem like overkill – hmm, I’ve done worse 😉 – hopefully, you found something useful in each post. And, of course, I wanted to illustrate the research (& contemplation) required for any real investment edge in your stock-picking & portfolio. Peer/sector analysis may perhaps be the most rewarding component – though it drives me to distraction occasionally…
Picture it: You come across a random gem – you suspect it’s best of breed & should be pounced upon asap! Instead you take a breath, step back & force yourself to research it (and its peers) from all conceivable angles. Meanwhile, your gem’s share price begins to ascend rapidly, and you’re totally missing out… I’m suffering that with one idea I want to exploit – the apparent gem of the sector’s jumped 20%+, gahhh!
But investing isn’t a sprint, it’s an (often painful) marathon. We all remember a satisfying quick-fire buy that worked out, but we’re really just trying to forget the pain of misguided duds… Disasters we might perhaps have avoided if we’d researched them a little more, or picked the better horse. Research & patience are ultimately far more profitable than grabbing the first nice stock you see. Also, peer/sector analysis is essential to my preferred approach to investment:
Wexboy 