80% wipe-out in 4 years

 

 This was my pre-hour note. Well the market has nearly perfectly followed my script for its price action. There is one difference: rather than closing with 3 points down today, we had a close with 3 points up. It is kind of a balance to keep traders guess what will be the next major move for the market. This is exactly the best thing the Market God can do: to fool as many traders as possible before making a heavy strike!

Here is my advice: to avoid being fooled into some trap, don't chase the market especially to the upside at the moment!   

Now share another terrible story in the commercial real estate area: 

As an example of the woes in commercial office properties, we share the story of a recent sale of an office building in Bethesda, Maryland. The building, pictured below, just sold for $30 million. Not only is the building in a robust economic zone, but it sits on top of a Metro train station.

The 339k square foot building in the close suburbs of Washington D.C. was bought in 2019 for $134 million. The buyer then spent $21 million on renovations and improvements. Consequently, the owner lost about 80% of their investment in four years!