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Interviews

AMAZON LINKS TO BOOKS BELOW
 

I've talked to some amazing people for my regular column on the capital markets for the National Association of Real Estate Investment Trusts (NAREIT) - John Bogle, Burton Malkiel, Jeremy Siegel, etc. - many of whom have written books. Link to the columns and find their books on Amazon below.

NEW! Marvin Zonis BOOK - country risk expert, book author, and University of Chicago professor
("The Chinese economy is very vulnerable, and I don’t think it can continue such growth without a severe setback. How severe I don’t know, but I think there will be political instability, which will be significant.")
http://nareit.org/portfoliomag/08marapr/capital.shtml

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All the NAREIT Interviews below are FREE! 

Robert Arnott - financial innovator on fundamental indexing
("A cap-weighted index loads you up on growth stocks and trendy stocks, most of which have put their run of performance behind them. They are less likely to deliver the goods in the future....")
http://nareit.org/portfoliomag/07janfeb/capital.shtml

John C. Bogle BOOK - Investment legend and Vanguard founder
("The most important single thing being lost is the notion of long term investing")
 http://www.nareit.org/portfoliomag/05janfeb/capital.shtml

Todd Canter - global strategist at LaSalle Investment Management
("We’re forecasting average total returns of 8 percent to 10 percent per year for the next three years for global real estate securities.") http://www.nareit.org/portfoliomag/06sepoct/capital.shtml

Martin Cohen - co-chairman and co-CEO of Cohen & Steers
("I can't tell you what the stock market is going to do, but I can tell you that the long-term rational return expectation for REITs is 9 percent to 12 percent a year, including dividends.")
http://nareit.org/portfoliomag/06mayjun/capital.shtml

 Cohen & Steers - chief investment officer for real estate James Corl
("Most of our U.S. clients have converted—or are actively evaluating the conversion of—their U.S. real estate securities allocation into a global allocation.")
http://nareit.org/portfoliomag/07novdec/capital.shtml

Mark Decker - group head of real estate at Robert W. Baird & Co.
("There is still tremendous opportunity to carry the securitization of commercial real estate further both globally and in the United States. ")
http://nareit.org/portfoliomag/07mayjun/capital.shtml

Jack Foster - managing director of Franklin Templeton Real Estate Advisors
("We like Japan for long-term fundamental trends, such as economic prospects and continuing securitization of the market.")
http://nareit.org/portfoliomag/08janfeb/capital.shtml

Roger Gibson BOOK - wrote the book on asset allocation (Asset Allocation: Balancing Financial Risk)
("We don’t try to time markets and we don’t abandon asset classes when they take their turn in the doghouse")
http://www.nareit.org/portfoliomag/04novdec/capital.shtml

James K. Glassman BOOK - author and columnist
("a diversified portfolio of stocks is no more risky than bonds over the long term")
http://www.nareit.org/portfoliomag/05sepoct/capital.shtml

Global REIT Investor Roundtable (Barclays Global, GE Real Estate, etc.) ("[E]merging markets are having an increase in importance and account for more than 20 percent of the world’s annual economic output. The second wave of global real estate investing will encompass investments in these emerging markets...." - Amy Schioldager, Barclays)
http://nareit.org/portfoliomag/07special/p06.shtml

Jeremy Grantham - celebrated value manager
("value will usually win in a 3-5 year timeframe")
http://www.nareit.org/portfoliomag/04marapr/capital.shtml

Joel Greenblatt BOOK - author of The Little Book That Beats the Market
("If you can buy a portfolio of "good" companies at below average prices, you will have a successful investment strategy.")
http://nareit.org/portfoliomag/06julaug/capital.shtml

Green Street Advisors - co-founder and REIT analyst Mike Kirby
("REITs are now a mainstream investment vehicle.")
http://nareit.org/portfoliomag/05novdec/capital.shtml

Lee Munder Capital Group - REIT analysts Patrick Donnelly and Arthur Hurley
("We're relatively concentrated versus most of our peers.... [T]hat's the most prudent way to invest if you're attempting to generate superior returns.") http://www.nareit.org/portfoliomag/06marapr/capital.shtml

Richard Lehmann BOOK  - book author and Forbes bond columnist
("Preferreds have mushroomed as a type of security to suit precisely small individual investors....")
http://nareit.org/portfoliomag/07marapr/capital.shtml

Burton Malkiel BOOK - Princeton professor and author of the classic text A Random Walk Down Wall Street
("The evidence is now remarkable how much better off individuals are in index funds than with actively managed mutual funds that try to pick winners. ")
http://www.nareit.org/portfoliomag/03sepoct/capital.shtml

Benoit Mandelbrot BOOK - inventor of fractal geometry and co-author of The (mis)Behavior of Markets
("In records of any financial price series, you will see long periods of relatively stable prices and short periods of extraordinary variation I call 'storms' or 'clusters'. ")
http://www.nareit.org/portfoliomag/05mayjun/capital.shtml

Steven Marks - Managing Director at Fitch Ratings on REITs
("The empirical evidence illustrates that real estate is a more stable asset class than most, so REIT ratings are more likely to be resilient, presuming the companies are well-managed."}
http://nareit.org/portfoliomag/07sepoct/capital.shtml

Michael Mauboussin BOOK  - Legg Mason Chief Investment Strategist
("Buying a basket of large-cap stocks will deliver good results over the next few years.")
http://nareit.org/portfoliomag/06novdec/capital.shtml

REIT CEOs - View from the Corner Office: Leading REIT CEOs discuss the opportunities and challenges that lie ahead
("The trend that will have the largest impact on our company is globalization of real estate markets....")
 http://nareit.org/portfoliomag/07mayjun/feat3.shtml

Retirement Experts (AARP, Barclays Global Investors, etc.)
(Defined contribution plans "will take on more and more of the characteristics of traditional pensions, such as automatic enrollment and professional investment management...." - John Rother, AARP)
http://nareit.org/portfoliomag/06special/p04.shtml

Stan Ross - REIT prognosticator on demographic changes and globalization
("I have a vision for a global REIT holding company..."}
http://nareit.org/portfoliomag/07julaug/capital.shtml

Schwab Global Real Estate Fund
("Real estate fundamentals don't change overnight. Trends take a few quarters to develop.")
http://nareit.org/portfoliomag/07sepoct/fund.shtml

Jeremy Siegel BOOK - Wharton professor and author of Stocks for the Long Run
("The average historical PE of 15 is way too low for today's market.")
http://www.nareit.org/portfoliomag/04julaug/capital.shtml

David Swensen BOOK - book author and market-beating manager of the Yale University endowment portfolio
("Investors are far-better served in a not-for-profit environment. Vanguard and TIAA-CREF are the two large not-for-profits that provide investment management services to individuals.")
http://www.nareit.org/portfoliomag/06janfeb/capital.shtml

Lester Thurow BOOK - prominent MIT economist and best-selling author (e.g., 'Fortune Favors the Bold')
("globalization ... is placing downward pressure on U.S. wages, no question")
http://www.nareit.org/portfoliomag/04mayjun/capital.shtml

Byron Wien  - Morgan Stanley senior investment strategist
("There are hundreds of variables that reflect on the stock market and some of them are very important at certain times and unimportant at other times. The skill of a strategist is to know what counts when. ")
 http://www.nareit.org/portfoliomag/05julaug/capital.shtml

 Alphabetical by author last name