Sometimes, the first loss is the BEST LOSS – AND – Anecdotal for SURE, but my Mark indicator says that the real estate swoon has a way to go…

Posted by Howard
on August 14th, 2006

I had dinner with my old partner and best bud Mark last night . He takes losses like no other human being. I have handed him a few of those so TRUST ME :)

He swings for the fences and his positive attitude is o.k. for that style.

Mark is as honest about losses as anyone so it always pains me to have to break the truth to him.

A month or so ago, I posted that he called me all bummed about Apple . He had bought 2,000 shares at $84 and the stock was in the high 50′s. He wanted my advice. I said – read my blog :) Seriously, I remember posting that night that Apple was real close to bottoming based on the Mark Factor and went on to rally 18 points.

I know he punted it, but did not ask him last night. WE WERE TALKING LAND – RAW LAND.

Mark has become a bit of a raw land baron on the west side of Phoenix. So far West, I joke with him that it’s East LA :)

He has been killing it the last 18 months and I could not be happier. Every time we talked I said – “So Mark – take the money off the table and lend it out! What the hell so you know about raw land.

Last night was a different story. We were talking carrying costs and slowdowns and UGH! He is seeing the other side of a true bubble – THE UNWINDING.

Let’s just say that my advice last night was to – HIT THE BID!

I know one thing for sure – HE AIN’T.

I love him.

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