NEWS AND UPDATES
Recent Reads | Frostbite
Like most good cities, Madison sponsors an annual book festival. Last year’s program included fiction and non-fiction from local, national, and international authors, and my favorite event was the presentation by Nicola Twilley, author of Frostbite.
Americold Gets Cheap Enough to be Interesting
Americold’s (COLD) stock price is down 65% in the last 5 years. This sort of move is unusual for a business that is so necessary and stable in the long-term sense of the word. In any short window of time, cold storage volumes have vicissitudes, but over any long...
Supply and Demand
The Law of Supply and Demand is a foundational principle of economics. As an example, consider that the supply of steel would be determined by the availability of iron (Fe) and the perceived demand for steel. The steel demand would, in part at least, be determined by...
Market Commentary | September 18, 2025
Resuming the Path to Lower Interest Rates After a seemingly interminable 9-month pause, on September 17th, Jerome Powell’s Central Bank cut the Fed Funds rate by 25 basis points. As real estate is considered one of the most interest rate-sensitive sectors, this is...
The State of REITs: September 2025 Edition
REITs performed very well in August (+5.48%), almost pulling the REIT sector’s year-to-date total return back into the black (-1.11%). Small cap (+7.52%) and mid cap REITs (+7.13%) averaged strong gains in August while large caps (+3.16%) and micro caps (+0.87%)...
Market Commentary | August 24, 2025
Potential Signs of a Value Renaissance Value and growth have bounced cyclically in and out of favor for the entire history of the stock market, often in unpredictable fashion. Outperformance of value or growth over the other varies in both duration and magnitude. ...
The State of REITs: August 2025 Edition
After a strong June (+2.56%), the REIT sector recovery stalled in July (-1.17%) as REITs fell to a -6.42% year-to-date return. Micro cap REITs (-0.20%) outperformed in July while mid caps (-1.18%), small caps (-1.33%) and large caps (-1.55%) averaged slightly deeper...
Market Commentary | July 29, 2025
Persistence, Perseverance, and Patience Pay Off Being dedicated REIT investors, we try to cover and analyze every issue in our universe. For City Office REIT (CIO), that has meant a quiet following of the issue since its 2014 IPO. Events of last week give us a rare...
RTR Portfolio Review: Investing in clean business models at a discount
The market has a tendency to overly focus on revenue growth. We also like revenue growth in the companies in which we invest, but I think there is significant value in studying the entire industry verticals to find those where the revenue growth will filter through...
The State of REITs: July 2025 Edition
REITs had another month of recovery in June (+2.56% average total return), but despite back-to-back gains remain in negative territory YTD (-5.65%). Micro cap REITs (+7.19%) outperformed for the first time this year in June, while small caps (+2.99%), mid caps...
Contact Us
2nd Market Capital Advisory Corp
650 N. High Point Road
Madison, WI 53717
(608) 833-7793 - phone
info@2ndmarketcapital.com
