Play La Bamba!
We won
Over the weekend a group of my passive investing partners came to visit Edmonton.
My partners were happy to see the development projects finally in person.
What made the trip even better was the Rangers vs. Oilers game.
Nothing better than Oilers winning the game and bringing our group together.
Great game and a great time!
Play La Bamba baby!
For those of my partners who are reading this, thanks for the fun weekend, boy, I have no idea how much some of you CAN drink 🍻
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During the weekend get together, I shared some of my thoughts on what I see on the horizon.
If you have been reading my newsletter for a while, you know I often quote Gretzky:
"Skate to where the puck is going"
I thought it was perfect to tie that into the presentation with the Oilers game we went.
I won't share everything I shared with my partners here, given that some of the contents are exclusive.
What I will share is a slide from my presentation below.
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As a managing partner, it's my job to "skate to where the puck is going".
It's easy to pay attention to the rear view mirror.
Since it's much easier to show historic data and proof.
Humans like proof.
Because proof provides certainty.
Unfortunately, human psychology is really bad for making great investments.
You see, investing is all about the future.
What's past is done.
If you missed out on a stock and the price of the stock have more than 10x, it doesn't predict the future of the same stock will 10x again.
Is it possible?
Sure, anything is possible.
But the point is, looking to the past matters less with this particular investment compared to looking into the future.
Can this stock 10x in the future?
That’s the important question.
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What am I paying attention to today?
Here's a slide I shared with my partners:
What's going to happen in 2025 and beyond?
What happens if Trudeau is no longer in power?
What opportunities could present itself?
These are the questions I asked myself.
Real estate is a long term investment.
Meaning, it makes some sense to pay attention to what's going on today, and it makes little sense to pay attention to what happened yesterday.
What matters most is tomorrow.
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Since real estate is a long term investment, before anyone invest in any project, one needs to look at 5-10 years out.
What could happen in 5-10 years?
Where's the market going to be in 5-10 years?
What's the politics like in 5-10 years?
Those questions matter more than what's going on today.
If you haven't asked yourself these questions, I encourage you to do so.
Because, I expect a lot of "fireworks" happening in the next 4 years with Trump 2.0.
And whether we like it or not, it will impact Canada and more importantly, our real estate portfolio.
Make sure you are prepared for what's to come.
And… the abundant of opportunities ahead.
Skate to where the puck is going!
If you like my work, I invite you to share it with others.
Happy investing,
Eric Chang
Calgary, Alberta
November 26, 2024
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