Traders Cooperative

[See Shasta]

Joe, I was listening to a CD of a talk from early May on real estate. Ken Rosen (real estate guru) was the speaker in this segment from an annual conference that the Fisher Center at UC Berkeley puts on. He was saying that commercial real estate is doing ok but should soften in the future. He noted that the yields on the commerical REITS were too narrow in comparison to treasuries and that the REITS needed to correct. I believe he said that the REITS got to fair value in Jan but the subsequent rise makes them too expensive. Thought you might like to hear the "good" news.