The REIT Pain Trade
Shorting REITs perceived as vulnerable to higher rates has been a popular trade this year but not a successful one.
I almost never write about REITs on this platform. That is partially because it’s my day-job and I use this as an outlet for my other investing interests, and partially because I never want anything on L.E. to be construed as investment advice. This post is unique though, as it happens to hit at the intersection of my interests in quantitative investing, REITs and the perennial challenge of capital allocation. It will be clear that this is not investing advice…which it is not.
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