Too Late.

I just watched the afternoon edition of Bloomberg. Now the “experts” are saying that not only has the market bottomed but it has now come back to high price levels. One of them gave an example of a big $160M deal in New York that just sold for a 3 CAP.

Funny was one of the experts said what everyone has been thinking: “where are those 9 CAP deals we have all been waiting for?” and the best comment I think I heard was “the smart money is done waiting and is now buying and selling”.

So it seems to me that the investors waiting for the desperate deals never really found them and we are heading back to regular business as usual. Since I can’t seem to get the hang of golf I am glad to hear this and I look forward to a busy rest of the year.