Depends how you look at things.
During 90s fed rate was around 5%, so company to have benefit of leverage or credit needed to make 5%+ returns on the money just to break even on the investment.
In today age after 2008 especially, fed rates were mostly
between 0-2%, so company needs 2%+ return on investment to break even or profit from leverage/credit.
Which means that same company in 90s had more difficult path to growth and profitability , then companies post 2008.
Did they get a golden parachute?
Wouldnāt think so, do you know otherwise?
Whose filling up trolleys and with what?
Iāve topped up a little ADM, GSK & LGEN while waiting for further discounts
Iāve topped up TRY and HGT ā two trusts with great records that have taken a shellacking recently.
PHP down to 100p - lowering average price a little
Seems thereās going to be strong drop in the UK stock market when market open
Core inflation remains stubbornly sticky regardless of whatever BOE does 
REITs on fire, as in a dumpster fire 
I own and hold BBOX and IHR. Probably will be a painful or flat 12 months for REITs whilst interest rates find their top. If you like them long term you will have a decent period to continue to accumulate.
Also in BBOX, it hurts me to look at it right now. PHP is the same but not quite as severeā¦
Or is it an opportune moment to open a holding?
Has anyone done any analysis on reit pricing when the base rates were last around the current levels?
Interesting question.
Another factor, did REITS have a similar level of debt back then?
I have been adding to REITs in recent months, also as they are generally higher dividend payers than avg I am reinvesting their dividends.
Inflation is eating away the real value of this debt and they hold lots compared to most companies. Yes short term interest rates are not ideal but its more the spike not the rate itself purely. I personally see base rate at 3-4% within couple of years and these companies will do well from current prices in that environment unless management capitulates with some bad decisions in the interim.
And what was the consumer disposal income level back then? We all know how the pent up pandemic savings is performing now
Iāve been buying a property fund relatively aggressively for the past 6-9 months. Commercial property, in particular, has taken a hammering, so I may add a few individual Reits.
BBOX is tempting at Ā£1.20ish on a 30%-plus discount to NAV. I donāt think it will fall too far from here (famous last words) so thereās a decent margin of safety. It was on a double-digit premium not too long ago which shows how much sentiment can change.
FTSE Roars on inflation figures 
Anyone looking at ticker XPP and thinking maybe the share price drop is massively overdone 
