You Couldn’t Run and You Couldn’t Diversify

out of this commercial real estate downturn, says this post from Black Swan Real Estate Blog. Highlight:

With all markets turning down, the way to reduce recent losses was to focus on “alpha” in the portfolio. That is, to focus investments on the markets that would perform best relative to the whole, rather than spreading out investments just for the sake of diversification.

On a good note, though, investors believe things are looking up.