Host Andrew Walker welcomes back Bill Chen for a wide-ranging discussion centered on the world of REITs. Though the conversation was intended to focus on one stock, the duo instead explores why REITs have underperformed in recent years, capital cycle dynamics, governance issues, and where Bill sees current opportunities. They dive deep into the theoretical and practical aspects of REIT investing, dissect recent REIT liquidations, and discuss portfolio construction and leverage in event-driven opportunities.
This podcast is sponsored by AlphaSense.
One of the hardest parts of investing is seeing what’s shifting before everyone else does. For decades, only the largest hedge funds could afford extensive channel research programs to spot inflection points before earnings and stay ahead of consensus. Meanwhile, smaller funds have been forced to cobble together ad-hoc channel intelligence or rely on stale reports from sellside shops.
But channel checks are no longer a luxury - they’re becoming table stakes for the industry. The challenge has always been scale, speed, and consistency. That’s where AlphaSense comes in.
AlphaSense is redefining channel research. Instead of static, point-in-time reports, AlphaSense Channel Checks deliver a continuously refreshed view of demand, pricing, and competitive dynamics, powered by interviews with real operators - suppliers, distributors, and channel partners - across the value chain.
Check it out for yourself at alpha-sense.com/yavp
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Disclaimer: Nothing on this podcast or on this blog is investing or financial advice; please see our full disclaimer here. The transcript below is from a third party transcription service; it’s entirely possible there are some errors in the transcript.
Transcript for paid subs begins below (Note: in order to get these up quickly, I post an AI generated transcript alongside the podcast. A professionally edited transcript comes a few days later; I replace the AI generated transcript once the professional one is available)