Efficient Capital Market with
Predictable Asset Returns: Evidence from Private Commercial Real Estate Investments
Efficient Capital Market with
Predictable Asset Returns: Evidence from Private Commercial Real Estate Investments Liang Peng
Not exact matches
Granted its a small field of investable
assets, but these products (to a varying degree) deliver a big part of what an investor wants:
predictable returns guaranteed to enhance the value of their savings after inflation
This combination allows us to consolidate premier
assets that seamlessly fold into our drilling program, enhance our scale advantage and reinforce our leadership position in the Permian Basin, all while strengthening our platform for delivering
predictable growth and
returns.
Are anomaly premiums (expected winners minus losers among
assets within a class, based on some
asset characteristic) more or less
predictable than broad market
returns?
For example, investors tend to put their money into
predictable but lower
return assets like government bonds instead of the potentially higher -
return but uncertain stock market.
There is always the hope of a theatrical breakout, but the more
predictable return on investment from theatrical P&A dollars is the unparalleled exposure it gives an
asset that the company will monetizing for next seven to 10 years.
Unlike long - term investments, which can yield a greater
return over time, short - term investments are typically lower - risk investments with a
predictable, smaller
return and highly liquid
assets, such as a high - yield savings account.
The idea that stocks are a risky
asset class is rooted in the ideas about how stock investing works that were developed in pre-Shiller days, when we did not know that long - term
returns are
predictable.
Our goal is to generate attractive
returns for our stockholders by investing capital in
assets that generate long - term, recurring and
predictable cash flows or cost savings from proven technologies.
Apartment buildings are one of the most
predictable real estate
assets in the market, and with the right team can generate some of the most dependable long - term
returns.
Corporate and institutional clients are especially finding sale - leaseback transactions useful when they seek to cash in on the equity from their real estate
assets in order to grow their business and reduce some of the debt from their balance sheets; investors seeking more stable and
predictable returns are also finding sale - leasebacks to be an attractive choice.