In investing, anybody can get lucky once, twice, even a few times. But to succeed consistently for years requires a rigorous process and real discipline.
It’s no secret that higher interest rates mean a more challenging environment for investors. But market-beating returns are still possible.
Anybody who’s been investing for a while has probably noticed that the economy is highly cyclical. Interest rates rise and fall. Booms alternate with recessions.
Buy low and sell high is such an obvious recipe for investing success, you would think anybody could do it. In reality, it takes real market insight and a clear picture..
For years, I built Alliance incrementally. Deal by deal. I was “successful”, but also playing it small. While I was chasing the next.
Everybody knows that real estate gets financed with debt, right? Not so fast. Recently, Alliance has started using cash purchases to close..
Alliance keeps a close eye on the healthcare industry, to understand our tenants and assess what changes might impact our investment strategies.
In business as well as life, nothing matters more than trust. This is particularly important when it comes to lenders, who are extremely valuable long term partners for Alliance.
Real estate can be a little like hunting. Seasoned investors stay patient and disciplined, then strike when the moment is right. 2023 was a quiet year in which Alliance did fewer deals..
I’m always thinking about how to increase profits and returns for Alliance’s investors. How can we get more output from the same inputs? It’s a question that interests all CEOs.
Now more than ever, investors care deeply about protecting their capital. I love talking to these investors because they’re such a perfect match for Alliance.
As 2023 comes to a close, it’s time to reflect. This has been a year of intentionality and building, for both Alliance and for me personally.
There are so many ways business leaders can try to boost performance. Among all the compensation schemes, training programs, consultants, frameworks,…
Over the years, I’ve seen a lot of fads come and go in business. Recently I’ve seen a particularly bizarre one:…
How much work do you put into hiring a new team member at work? A typical company might review stacks of…
The recent college admissions scandal has clearly touched a nerve. But the story of elites using fraud to give their kids…
Like business owners everywhere, I’m always thinking about how to get great performance out of my team. Over the years, I’ve…
The great economist Milton Friedman once said: the business of business is business. It’s a zany one-liner that gets at something deeper, in particular on government regulation.
These days, it can feel like everybody is trying to sell something. Usually that’s no problem, but a magnetic salesman can tempt people into making bad decisions.
I know I’m not the only one who has choked on my coffee when I opened a lawyer’s invoice. Simple services should not be so damn expensive. Of course, we..
I’m excited that some environmental deregulation seems to be on the way. Lighter regulation means easier development, greater deal flow, and higher profit.
Summer travel plans have been upended, but that doesn’t mean you should stay home.I believe that in these stressful times, it’s more important than ever to get away.
In this time of hardships, America needs sports.Sports have a special place in our society. They offer us compelling drama, role models, novelty, and bring a community together.
Warren Buffet wisely said that price is what you pay, value is what you get. Are traditional MBA programs really delivering value? The marketplace is finally..
I love sports, and not for the usual reasons. While I played as a kid and I still have a few favorite teams, what really keeps me interested is the way athletics highlight..
All of today’s amazing technology was supposed to make us all smarter, healthier, and more productive. What happened?Compared to what I grew up..
Tesla is at risk of going out of business. This electric car pioneer has raised new capital every year since its 2010 IPO, and they’re still posting massive losses.
The College Board’s plan to add Adversity Scoring to the SATs is questionable. It means scoring people on the circumstances of their birth, rather than the content..
Technology has recently started to overlap with personal health in powerful ways. These new innovations could offer new avenues for self-improvement and productivity boosts.
I’m concerned about kids and video games.I see friends worrying about what their teenage kids do when they are not at home. In my opinion, a bigger..
There’s a recent business trend where companies are making big statements that seem designed to go viral. In today’s highly polarized environment, diving..
Recent news reports tell us that smartphone sales are slowing. This is terrible news for Apple, but it might be good for the rest of us. Life still happens in the..
There are a variety of ways to get ahead in life. While nothing beats getting lucky, most of us have to work for it. We can work hard, or we can work smart.
Success comes from actively shaping your own destiny. Even downtime is an opportunity to engage in your life and invest in your future. The demands of..
The value of data is rising, and so are major hacking incidents. We’ve seen a steady parade of data breaches, from Anthem to Yahoo and JP Morgan Chase to Target.
It’s crazy how fast time flies by. My eldest son recently left to start college at the University of Southern California. I’m excited for him as he starts this new chapter of life.
My grandfather used to say that opinions are like ***holes, everybody’s got one. Thanks to social media, anybody can broadcast their opinions wide and far..
In recent years, I’ve seen a troubling trend toward protecting kids from unfairness and anything that might make them feel bad. I applaud the sentiment — we all..
For cutting through all the digital noise, there’s still nothing like face-to-face interaction. Some people might call it wasteful to travel by for a conversation when..
World Cup fever is here. While Team USA failed to qualify this time, we’ve just been selected to host (along with Mexico and Canada) the 2026 tournament.
The internet is powerful because it connects us to each other. By the same power, it also connects different parts of our lives together. Everything we do..
It drives me crazy that the word diet is so loaded with baggage. “Diet” commonly means self-denial, crappy food, ridiculous promises of miracle results, crank science..
It’s been two and a half months since many of us made New Year’s resolutions and I’d bet that most of us are continuing right where we left off last year.
Everybody wants to know the secret to success in life. I won’t pretend to have all the answers, but I do have a worldview that has helped me get where I’ve always..
The ideal vacation is more than just a rest, it’s an opportunity to continue growing. I want my holidays to complement the rest of my life and fill in the gaps that I’m missing..
Some might call this heresy, but I think watching sports on TV is largely a waste of time. TV viewing, including sports, is a passive activity. When we’re looking at a TV..
As a real estate professional, younger friends and acquaintances often ask me for advice on home buying. When is the right time to buy? Am I making..
We’ve all heard the saying – A good team is greater than the sum of its parts. I totally agree — teamwork is indispensable. Not all teams work well together..
Whether it’s legal issues, zoning surprises, lease negotiations, tax surprises or something else, real estate deals always come with unexpected challenges.
I want to continue the story we started last week about the property we just sold at a whopping 34% IRR. We didn’t just buy a great property at a discounted price.
The NBA trade deadline just passed. The hot takes on who “won” and “lost” have me thinking about the parallels between building a winning basketball team..
This New Year, I’m thinking about how to lead a more mindful and intentional life… including wasting less time on mindless activities, and on goals that aren’t true priorities.
I often hear people say: data is the new oil. Artificial Intelligence (AI) is moving into more and more areas of the economy, and the fuel for AI is data - and lots of it.
Technology is changing the world incredibly quickly. I’m excited to see where it takes us in the coming years.One fact that illustrates just how quickly technology..
Over the last year, a shortage in computer chips has hobbled production of a wide variety of popular products like cars, phones, and gaming consoles.
Over the last few months, I’ve noticed a lot of stories about cybersecurity breaches. In technology and beyond, change creates opportunities for some and risks for others.
Many people in the media and politics are pushing to punish Big Tech for their various “crimes” and transgressions. There’s a lot of anger in the air, and with so much..
I’m always on the lookout for new risks to Alliance’s business. Usually, they’re deal-specific, but recently I’ve been looking at something bigger. An important piece..
Commercial real estate is a term that covers a broad spectrum of asset types, classes, locations, and markets. It is an industry that institutional..
America has an aging population, and that translates into continued rising demand for all types of medical services and medical service real..
Nearly all commercial real estate deals are financed using some combination of debt and equity. The nature of that debt can take many forms – ranging..
It is no secret that housing is prohibitively expensive in California, but perhaps less known is the disease of exorbitant rents and mortgages..
From an early age, most people are taught that taking on too much debt is irresponsible and can result in financial ruin. Therefore, many people..
Never before in world history has such a large—and wealthy and entitled—population moved into their golden years, as presently in the United States.
The commercial real estate market has been generating strong returns for investors. For property owners in the right sectors, the rent checks are rolling..