The Institutional Risk Analyst

As we note in a recent article published by The Daily Reckoning, “The Bezzel: Is it 1925 All Over Again?,” that tales of woe regarding the Fed-fueled credit boom in commercial real estate and private credit will continue to grow in number in 2026.  When it comes to fraud, cockroaches are an inconvenience, but wharf rats carry the plague and are an existential threat.

Is Michael Nierenberg, CEO of Rithm Capital (RITM), really paying a double digit cap rate for an "Irreplaceable Portfolio of Class A" properties in San Francisco and New York? What does this say about the true market value of all New York commercial properties?

Q: Do you suppose the folks inside the Trump White House, who spend much of the day watching Newsmax, understand that loan forbearance is about to end for tens of thousands of American households on October 1st?

There is an old rule on Wall Street that industry sectors like airlines and auto manufacturers are trades rather than investments...

Private equity portfolio companies are about 10 times as likely to go bankrupt as non-PE-owned companies.

The markets got their rate cut over the past six months and now may have to give some of that back.

The rotation away from institutional investors to retail funding source for the $1.7 trillion direct lending market is an ominous sign

The assumption of price volatility on the part of consumers and business managers is at the heart of inflation expectations