CRE vacancy rise to alarming new levels

Hello and welcome to Alts Cafe

ICYMI, yesterday we went down the ​luxury watches rabbit hole​.

  1. Has the luxury watch market bottomed?
  2. Is now a good time to jump back in?
  3. And if so, what’s the best way to do it?

​Join us​

Highlights from the full issue:

  • Macro: US inflation remained steady from May to April
  • Real Estate: Commercial vacancy rates rose to 14% in Q2
  • Startups: Cisco is investing $1 billion in startups working on AI
  • Private Credit: Bain Capital has acquired PowerSchool
  • Crypto: Deutsche Bank partnered with Bitpanda
  • NFTs: NFTs reached a total all-time sales volume on June 4th
  • Art: Banksy’s “Love Is In The Bin” sold for £18.58 million
  • Vintage Autos: Cher’s 1972 Ferrari is up for sale
  • Coins: A 1976-S Bicentennial Silver Quarter sold for $19,200
  • Farmland: Farmer interest in solar leasing has doubled
  • Luxury: Rakuten launched Rakuten+
  • Wine, Tequila, and Spirits: Dolly Parton made “Dolly Wines”
  • Film & Music: SACEM collected $1.62 billion in royalties
  • Precious Metals: Nifty Metal index crashed 10% on Tuesday
  • Collectibles: A Michael Jordan card sold for $3 million
  • Websites: Activision acquired Elsewhere.com

Let’s go.

Wyatt

Macro View

Bullish News

Bearish News

What are the odds?

​The odds of multiple rate cuts in 2024​ continue to plummet.

Get $25 to play around with using this link.

Real Estate

Bullish News

  • The CMBS market thrived through ​the first five months​ of 2024, totaling $32.2 billion compared to $13 billion in 2023.
  • Five of Nashville’s most respected real estate professionals ​$29,990,000​.
  • Emerson ​agreed to sell​ its remaining interests in the Copeland joint venture to Blackstone for approximately $3.5 billion.

Bearish News

How to invest in real estate right now:

Anyone have $30 million burning a hole in their pocket?

Startups

Bullish News

Bearish News

How to invest in startups right now:

Luckily, the frozen bike can still be used as a coat rack.

Private Equity and Private Credit

Bullish News

Bearish News

  • PE firms are compensating through secret “side letter” agreements, raising ​grave concerns​ according to a former SEC attorney.
  • The annual SuperReturn conference in Berlin ​was overshadowed​ as global buyout-backed exits fell 44% to $345 billion in 2023.
  • PC investments ​have died down​ as buyout activity decreases and regulators increase oversight of the $2 trillion market.
  • The SEC and DOJ charged the ​CEO of Trillium​ for a $4 billion “pump and dump” scheme involving Getty Images.

How to invest in PE and Private Credit right now:

Big win for PE in the US appeals court

Crypto

Bullish News

Bearish News

How to invest in Crypto right now:

Another week, another crypto laundering attempt.

NFTs

Bullish News

Bearish News

  • Bitcoin NFT sales ​dropped 68% in May​ to $160 million, the lowest since October 2022.
  • The US Treasury identified NFTs as “highly susceptible to ​fraud and scams​” in its latest risk assessment on illicit finance.
  • Major blockchains faced their ​worst NFT sales​ month since October, a 54% drop from April.
  • Dapper Labs reached a ​$4 million settlement​ in a class-action lawsuit alleging the NFTs were unregistered securities.
  • Three individuals were charged with ​wire fraud​ money laundering in connection with the 2021 “Evolved Apes” NFT rug pull scam.

How to invest in NFTs right now:

As if F1 couldn’t get any cooler.

Artwork

Bullish News

Bearish News

  • Nearly half of galleries implemented ​cost-cutting measures​ in 2023, with 39% doing fewer art fairs and 19% reducing their workforce.
  • The Vanderburgh County Council approved ​only $300,000​ of the requested $500,000 for the Evansville Museum’s Picasso exhibit.
  • Christie’s ​has been sued​ for failing to protect the personal data of at least 500,000 clients in a cyberattack.
  • David Voss ​pleaded guilty​ to charges related to peddling over 1,500 fake Norval Morrisseau works between 1996 and 2019.
  • A climate activist ​vandalized a Monet painting​ by sticking an adhesive poster on it.

How to invest in Artwork right now:

Banksy is in the news again, this time without putting a paper shredder in a picture frame.

Vintage Autos

Bullish News

Bearish News

How to invest in Vintage Autos right now:

I just thought of another wish.

Rare Coins

Bullish News

Bearish News

  • A ​2-pound gold nugget​ worth $82,100 was stolen from the Long Beach Convention Center during the Long Beach Expo.
  • Rare Bluey coins sold out quickly and resold at a ​582% markup​, as resellers dominated the market, frustrating genuine collectors.

How to invest in Rare Coins right now:

Where are my hiking boots?

Farmland

Bullish News

Bearish News

How to invest in Farmland right now:

Buy the dip… and the jam.

Luxury Goods

Bullish News

  • Rakuten launched Rakuten+, offering a minimum of ​10% cash back​ on luxury brand purchases year-round.
  • The luxury fashion market, ​worth $273.72 billion​ in 2023, is expected to reach $360.20 billion by 2030.
  • Formula 1 driver Charles Leclerc ​invested in Chrono24​ the world’s largest luxury watch online marketplace, now valued at over $1 billion.
  • Gen Z has pushed luxury market brands to rethink their marketing, seeing a ​69% MIV growth​ over the past three years.

Bearish News

How to invest in Luxury Goods right now:

So Chanel’s hiring? Where do I send my application?

Wine, Tequila, and other Spirits

Bullish News

Bearish News

  • The FTC has prepared an ​antitrust lawsuit​ against Southern Glazer’s Wine and Spirits.
  • Suntory ​denied talks​ to buy Boston Beer Company for $3 billion, causing the stock to drop to $280.
  • The feds have grilled ex-workers from NYC’s iconic Sherry-Lehmann wine shop as a ​fraud probe intensifies​ over alleged sales of nonexistent wines.
  • Rep. Ilhan Omar’s husband was accused of ​swindling an investor​ in their California winery, failing to triple a $300,000 investment.

How to invest in Wine and Spirits right now:

Time to start learning Finnish.

Music and Film

Bullish News

Bearish News

  • Live Nation’s Dan Wall dismissed AEG’s Jay Marciano’s comments on the ​DoJ antitrust lawsuit​ as “self-serving” and “ignored.”
  • Paramount Pictures is ​up for sale​ after the firing of its CEO in late April.
  • Ticketek Australia announced an investigation into ​a data breach​ of customer’s names, dates of birth, and email addresses.
  • Bellevue’s ‘Le Smash’ entertainment ​venue abruptly closed​, leaving customers frustrated.

How to invest in Music and Film right now:

It’s about time Twitch DJ’s caught a break.

Metals and Gems

Bullish News

Bearish News

  • The Silver Institute reported a 663 million-ounce shortfall and forecasts another ​215 million-ounce shortfall​ for 2024.
  • The Nifty Metal index ​crashed over 10%​ on Tuesday as stocks like NALCO, SAIL, NMDC, and Hindustan Copper fell 15-19%
  • ArcelorMittal’s Mexico plant lost ​100,000 tonnes​ of steel in ten days due to workers’ protests demanding higher profit-sharing payments.

How to invest in Metals and Gems right now:

Who knew hoards could be so lucrative?

Collectibles

Bullish News

  • A British man set a ​$3 million​ at Goldin, setting a new record.
  • Victor Wembanyama’s Spurs jersey from his 20th birthday game ​sold for $120,000​ at Sotheby’s, shattering pre-sale estimates of $30,000.
  • A Boba Fett model ​sold for $525,000​ at Heritage on May 31, setting a record for vintage toys at auction.

Bearish News

How to invest in Collectibles right now:

How fast must you be to dare steal from a track and field legend?

Websites and Domains

Bullish News

Bearish News

How to invest in Websites and Domains right now:

Be right back, checking to see if I’ve been pwned.

Cheers,

Wyatt

Disclosures

  • We hold BTC, ETH, and a couple Star Wars Action figures in our ​ALTS 1 Fund​.
  • There are a couple of affiliate links above. If you click them, we may get a couple of bucks.

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Author

Picture of Wyatt Cavalier

Wyatt Cavalier

With a background in finance & intelligence analysis, Wyatt has an unhealthy obsession with finding the best blue chip investment opportunities. His previous newsletter, Fractional, resonated deeply with subscribers, bringing actionable insights and unconventional trading strategies. His rare book collection specializes in banned editions. He currently lives in Spain with his beautiful wife, three young boys, and dog Monty.

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