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The Compound and Friends

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The Importance of Commercial Real Estate

Michael Batnik: Why would you have $3 million in a checking account under zero when the Fed funds is at 4.5? "The direction is bad and the trajectory is bad," he says. The owners of these things are in court for three years before they actually lose the building. This is not like a mortgage on your house or a car that could be repossessed. It's rarely like a Jared Kushner family, it's asset managers.

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