Howard Davidowitz, chairman at Davidowitz & Associates, and Don Rissmiller, chief economist at Strategas, examine the state of retail on Black Friday and runs down the winners and losers in the retail sector. Here is a direct video link.
By the way, my partner Cory Venable’s chart of the Canadian REIT ETF (XRE) here between 2007 and 2009, gives a sense of the price performance potential once these ‘income’ securities hit an overzealous valuation top. While holders lost 60% of their capital in under two years, those who resisted temptation and waited to buy it after mean reversion took place, had the reward of an 11% dividend yield, compared with 4.7% yield at the price peak in 2007. (The income yield at each price point is noted in the boxes.) The price of indiscriminate buying and holding is routinely catastrophic to savings each cycle. Important to pay attention to valuations and cycle!
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