Hi Socratic,

That phrasing was indeed intended for you so I'm glad you're still around!

Believe it or not, I don't pay all that much attention to the absolute level of TREA's unit value . . . definitely 314.xx something (I think).  But what could be more fun than looking it up yourself every evening at 7:01 pm?  :  )

All best,

Pete 

Hi All,

Another "surprising" 35 cent gain today to $314.85.  REIT's were up nicely today, so I guess one possibility is that they've increased REIT holdings . . . then there's the fact that it's a Monday and I suspect that we get some pro-rated Saturday and Sunday rental income, but note that we're also coming to the end of Q2 and so we could be getting some (slight) appreciation on the quarterly appraisal front . . .

All best,

Pete 

Tonights gain was about twice what would be expected from the performance of the account's REITs.

I would agree that the two moves probably come from income be credited to the account. I doubt, however, it is a product of improving appraisals but this is just my personal opinion. In any case it is nice to see a couple of decent gains!

Ray 

Wow, I'm almost even (-0.07%) to when I recently reinvested 10% into the TIAA Real Estate Account!

On another note; Brett Hammond's video lecture is somewhat comforting. I especially like his reference to the prospects for Emerging Growth. Where does an alien go to buy some of this? A little bit of it is contained in the Stock Fund (The composite benchmark’s weightings are recalculated daily: on 3/31/2008, the U.S. segment was 75.0%, the foreign developed-markets segment 22.6%, the foreign developed markets small-cap segment 0.1% and the emerging-markets segment 2.3%.) It's pretty improbable to weight this segment because of the other over-riding segments.

Are they trying to tell us something? (Like use the brokerage to get some of that good stuff?) 

Sy

Sy,

Right now emerging markets and somewhat surprisingly, also small and mid-cap growth, are doing well. Emerging markets have done well for a few years if not more and in my opinion are likely to continue. The 2% share in the Stock Account is too small to be significant so you would have to get it elsewhere. I have it my inheritance account where it is now 5%. I am going to try and increase it to 10% with time. As you said, you cannot buy in at T-C. I have it via DFA but as you know they don't deal with retail customers, only via advisors. I don't know Vanguard holdings very well but you could look there. Also see if M* has a category for them and if you find one you like, you could always buy it via the sponsoring firm.

And no you cannot get DFA accounts via a T-C brokerage account. Some are available through the trust company but that of course requires a large investment and a 0.5% annual fee.

Of course if you have the stomach for it, REITs are doing comparatively well.

Ray 

Ray,

Yeah, I'm averaging in with small amounts into SmallCap Blend Index, MidCAp Blend Index, SmallCap Value Index, Real Estate Securities, as well as several of the other funds. I know about DFA funds. Kind of like buying a $50,000 car to save on gas. I don't like the bother and charges (apparent and hidden) of using a broker,especially a high priced one like TIAA-CREF's, Zecco has no commission and possibly is the way to go to buy ETFs (they get you some other way, I guess.). Vanguard has an Emerging Market fund, but they charge an exit fee.

Good luck to all, except for the bad guys.

By the way; where's the cheering squad led by Peter?.

Now Sy be nice to Peter! Besides being young - among what for the most part is a collection of what a now deceased friend use to refer to as "old farts" :-) - he is the nearest thing to a quant oriented active poster active in our forum! And besides, as I remember, he is sweating a tenure decision and that certainly entitles him some sympathy!

Pete, we do love you! Now tell me, what would you conclude from the uncorrelated asset rebalancing thread you initiated on the bogelheads theory board? Whatever it is, it escapes me!

Ray

 

peter71:

Hi All,

Another "surprising" 35 cent gain today to $314.85.  REIT's were up nicely today, so I guess one possibility is that they've increased REIT holdings . . . then there's the fact that it's a Monday and I suspect that we get some pro-rated Saturday and Sunday rental income, but note that we're also coming to the end of Q2 and so we could be getting some (slight) appreciation on the quarterly appraisal front . . .

All best,

Pete 

oooh!!!! now *that's* a useful post ... . :-) 

but seriously, all kidding aside, i really don't understand why you (and the other guys) do it.  i mean, all you are doing is creating your own "financial porn" -- which I suppose you wierldly have to do in this niche investment overlooked by the mainstream financial porn industry, which could have remained a porn-free zone.  (i feel like the crying Indian on the horse in the old pollution ads.)

 anyway, I hope you understand why I tend to tune it (and the other financial porn) out.  (yeah, i'm a diehard; sue me.)

 Best.

Socrativestor,

Clearly you've got better things to do with your time so why not do them?

Sy,

I can't be a cheerleader because I haven't ever sold a share (er, annuity unit) in TREA. I am just quietly complacent. :-)

Pete,

I didn't know you were up for tenure.  I wish you all the best.  It can be an agonizing process.  Bob U.
 

Please don't denigrate porn. At least there's something of interest to look at. On the other hand, financial philosophizing is the most agonizingly boring verbal diarrhea I ever encountered. (What, me complain?) Diehards need to try harder to die harder. Just state your teeny theory and be done with it. The world ain't flat, (despite Thom Friedman).

Otherwise; have a great day ;>) 

Hi All,

I'm not actually up for tenure but I am trying to move to my fiancee's school with her . . . I guess I'll leave it at that for now but I'll of course let you know if I do make a move.

Regarding the (financial) porn question, I do think there are numerous differences between discussing a private equity account on this board and going on CNBC and "talking one's book."  The fact that TREA isn't marked to market means that you can't just look at the day's moves and say, "well, that's how the market valued it today," and so while you won't find me discussing daily moves in LEH (or REIT's) over on Bogleheads I do find it interesting to keep track of "surprising" moves in TREA (i.e., basically those not explained by daily moves in the REIT component that I agree /aren't/ interesting in and of themselves -- though it is nice to know that we're pretty sure that's usually what's going on with the account).

All best,

Pete