Key Takeaways
- A pitch using trough-to-present returns, current low vacancy, and recent rent growth combines multiple biases.
- Debiasing requires using complete cycles, seeking failure data, and projecting from long-term averages.
- Regular self-audits of your own analysis identify blind spots before they become costly mistakes.
- Document specific process improvements and implement them on your next analysis.
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Test Your Knowledge
1.A syndicator cites 120% appreciation since 2012. What is the primary analytical concern?
2.What is the purpose of a regular analytical self-audit?
3.When evaluating a fund manager's historical returns, what should you always request?