Week Ended 4/28/17

Earnings season in full swing This may be a lengthy update as there has been relevant news from so many of 2CHYP’s holdings. Hotels Underlying fundamentals have been challenging for hotels so far in 2017 with many of the companies reporting flat or negative RevPAR. ...

Week Ended 4/21/17

Rebalancing the portfolio Unfortunately, the word rebalancing has developed ugly connotations as it is often associated with automation, but at 2CHYP we like to do things a bit differently.  Rather than rebalancing at a certain time interval or when positions reach a...

Week Ended 4/13/17

Rebound off the lows I must confess regret to not having a larger allocation in OHI.  In hindsight it was remarkably opportunistic at $31, but we only a had a small position in 2CHYP.  Its fundamentals were far out of line with what the market was pricing in and OHI...

Week Ended 4/7/17

REITs returning to favor? Over the last few years, REITs have sold down multiple times on rising interest rates.  As I have stated many times before, I do not believe REITs are fundamentally sensitive to interest rates as compared to the broader market, but even if...