This week in charts…and photos
Stefania D’Angelo – EdgePoint Partner since 2019 (Toronto, ON – The Annex)
An EdgePoint Thanksgiving Recipe
The market might be serving some turkeys lately, but making long-term decisions based on fear is a recipe for disaster.
Oil demand
Retail Real Estate Is Enjoying Its Biggest Revival in Years
More stores opened than closed in the U.S. last year for the first time since 1995, according to an analysis by Morgan Stanley, and some analysts say they expect that trend to continue this year even with recession fears rising.
The retail real-estate industry’s turnaround reflects a wrenching, decades long adjustment that included hundreds of retailer bankruptcies, widespread vacant storefronts and plummeting demand for enclosed malls. Over the past dozen years, construction of new retail has slowed significantly after many years of overbuilding.
Instead, most developers are opting to renovate outdated properties rather than building new ones. Those that do embark on new projects are more cautious, usually securing leases from tenants before breaking ground. More and more companies that started as online only retailers, like Warby Parker Inc., are also turning to real estate to attract customers and boost growth. The eyeglass retailer opened nine new locations in the second quarter, bringing its total at the time to 178 stores, according to financial filings.
And after being forced to buy more things online at the start of the pandemic, many people have decided they like shopping in stores for items ranging from clothing to groceries, in a reassuring sign for the staying power of bricks-and-mortar retail.
This week’s fun finds
As part of our annual tradition, Mimi and Matilde are setting up the turkey lunch they organized.
UFO parade or Starlink satellites?
EdgePointer and frequent Inside Edge contributor Craig captured this image in the Alberta night sky.
David Portnoy “investing" journey
1) Click here
2) Turn on sound
3) Warning – Some salty language
Bitcoin mining: Watt is money?
Using exclusive data from the Cambridge Centre for Alternative Finance, Rhizomatiks gives fresh insights into the impact of the vast energy used to mine cryptocurrency - a business that consumes the same electricity as a medium-sized country. This film, with original music, was made to be viewed as a live video installation and as an online film.
