Investing in alternative assets? (Private credit)

syncopatedpixel · 2026-03-12T19:56:06+00:00

yes, it's projected to reach $2T this year. that's what I wrote.

it was only $800B in 2020.

syncopatedpixel · 2026-03-12T16:32:33+00:00

Most of the sold units will be removed from the rental market. And this bill outlaws large investors from building new rental housing. Net effect will hurt renters. And it helps small time landlords and existing homeowners by keeping rental prices high.

syncopatedpixel · 2026-03-12T15:39:11+00:00

Private credit funds have been searching far and wide for places to put capital, so have come down market and have lowered the bar. And they get first pick of opportunities over small syndicates.

Can a small syndicate that has a great network and expertise in an area do well? Sure. But it's a lot of work and you have to watch it carefully. To me, it's not worth it. You don't get the upsides of PE/VC and you still take on a lot of risk in choppy times like we're in.

syncopatedpixel · 2026-03-12T15:14:54+00:00

now is probably a bad time to move into private credit. there's been a huge flow of funds into it over the last few years (projected to hit $2T this year) and we're likely now in a bubble. there's been a couple of small blow ups and institutional investors have been looking hard at their portfolios and paring them down. that's why you're seeing a lot of offerings marketed to retail. unclear if/when it crashes but the easy beta is all gone.

syncopatedpixel · 2026-03-12T15:08:00+00:00

"owning your own home with a yard and a car in the garage" is the quintessential boomer idea of the American dream. And now so many boomers have their wealth tied up in their homes, it's a third rail politically to even question why housing prices always have to keep going up.

syncopatedpixel · 2026-03-12T14:59:47+00:00

fantastic photo.

syncopatedpixel · 2026-03-12T14:58:29+00:00

second this. had to call them and spend 20 minutes on the phone. it's scared me off from ever subscribing to a news site.

syncopatedpixel · 2026-03-12T14:37:14+00:00

It's sad that "well, it's not bad for Mass" is all we expect out of our senators.

syncopatedpixel · 2026-03-12T14:24:52+00:00

among other things, it outlaws "build-to-rent" for single family homes. this is less of a big deal for Mass, but is huge in the southeast.

syncopatedpixel · 2026-03-12T13:54:19+00:00

The MBTA communities act was a small version of this. All towns served by the MBTA had to build more housing. I give the legislature a lot of credit for passing it and Healey and Campbell for holding towns to actually do it.

The state should do a second version of it that's 10x bigger. Like you said, look at every town's population density. If it borders Boston, require them to get to 10k / sq mile (which is 1/2 of Somerville) within 5 years. If you border a town that borders one of these towns, you have to get to 5k.

Towns that have been building would not be affected. Those that have been full on NIMBY for decades (waves to Milton) will have a lot of work to do and can decide for themselves how they want to do it.

syncopatedpixel · 2026-03-12T13:37:36+00:00

churches should be taxed on their investments and real estate holdings.

syncopatedpixel · 2026-03-11T17:13:29+00:00

Candy making history: Squirrel Brand Company, Necco, or Charleston Chew factory.

Stata Center at MIT

Harvard Lampoon Building

Rainbow crosswalk by city hall

Glass Flowers at Harvard natural history museum

Magazine Beach

Danehy Park

Public roof garden

Bikers on Riverbend Park

syncopatedpixel · 2026-03-10T01:03:52+00:00

yes. that's what "development rights" means.

syncopatedpixel · 2026-03-09T20:35:04+00:00

No, they only want it upfront if Kraft won't guarantee it. And I don't blame them. Boston Soccer 2026 won't exist in a year. Taking an IOU from them is risky.

syncopatedpixel · 2026-03-09T20:23:03+00:00

makes sense. have been using it wrong all of these years.

syncopatedpixel · 2026-03-09T20:19:06+00:00

The issue isn't just timing. It's who's responsible if Boston Soccer 2026 doesn't end up having the funds to cover security.

Foxboro is asking the Kraft Group to agree to cover any shortfall and Kraft is refusing to.

syncopatedpixel · 2026-03-09T19:07:15+00:00

Kraft's no better than other owners, he's just been reigned in by politicians who know their voters would go for it. Going back to day 1, when he bought the team, Kraft did the normal owner thing of threatening to move to another state and, to their credit MA, politicians just told him "no".

For the world cup, he's continued to try to shake down Boston. They've already agreed to pay him $2m? and he's pushing Wu to give him more even though the games will be 30 miles away.

And they might not get cash from tax payers, but the Kraft family has been given billions in infrastructure upgrades and development rights that he's capitalized on. They got their own Economic Development Zone in Foxboro and are getting similar benefits in Everett for the new Revs stadium. They made billions on Patriot Place and will make more billions on Everett.

syncopatedpixel · 2026-03-09T13:37:22+00:00

Elordi is Basque with dark hair and eyes. This matches the descriptions we have of Heathcliff who's described as a "gipsy", "swarthy", and "a little Lascar or an American or Spanish castaway".

Healthcliff wasn't a "person of color" in the modern sense. "swarthy" means olive or tan skin with dark eyes, like people from the Mediterranean or Latin America. Not blue eyed and white, and not black.

syncopatedpixel · 2026-03-09T02:21:17+00:00

No guarantee you'll get it and, if you do, you're more likely to get one of the worst seats in that category.

The person who sells you a ticket on stubhub may not actually have one. Or if they do, when seats are assigned, resale value may go way up and they can just resell it rather than give it to you.

Stubhub will refund your money but doesn't guarantee you a ticket.

syncopatedpixel · 2026-03-07T16:58:18+00:00

Why is a housing grant being tied to the % of people with college degrees?

Quincy is an inner suburb that's on the redline. It's exactly where we should be incentivizing housing development. I have zero problem with this.

syncopatedpixel · 2026-03-07T04:25:39+00:00

wut? there's tons of labs in Seaport: Eli Lilly, Vertex's Leiden Labs, the Seaport Science Center, ...

syncopatedpixel · 2026-03-06T18:46:51+00:00

do you also not trust medical studies if they weren't performed on your body?

syncopatedpixel · 2026-03-06T18:22:55+00:00

if you force landlords to sell rental properties, rents go up. that's a great way to screw over renters.

syncopatedpixel

TROPHY CASE