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Regional Bank Credit Risk, AI Tech Hype, Trouble in Commercial Real Estate: Chris Bemis, X-Cubed Capital
The Contrarian Investor Podcast
The Return to Office Narrative
I did some analysis back in early 22 tracking cell phone data. And it really looks like the usage in office space is leveled out at about two thirds 70% of what it was pre pandemic. That doesn't sound that significant, but it is catastrophic to some tranches within say CDX. You don't need that many losses to accumulate to have massive wins on the downside being short that space. So no, I don't buy it. And I think there's still a ton of potential there.
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