This is a March Madness inspired Part 2 of A Genius Idea: Buy Low, Sell High.
If you know me at all, you know that March Madness is my favourite time of year. Well, it’s a close second to Christmas. I suppose Santa wins. Still, I spend way too much time researching my picks, listening to podcasts, discussing picks with my dad and brother, and having violent flashbacks of teams have blown up my bracket in the past.
Last year was a particular awesome year when my favourite team, the Louisville Cardinals, won their first National Championship since I was five years old. I also picked them to go all the way.
I’m not picking this year's Louisville team to win it all. They lost their floor leader and their best defensive player to the NBA. Kevin Ware couldn’t recover from snapping his leg in half. Chance Behanan let winning go to his head. Eventhough they’re playing great recently, the Final Four is their ceiling.
I’m hoping there will be a reverse jinx by me saying that, propelling Louisville to back to back Champoinships. But maybe I just jinxed the reverse jinx by saying that.
A few weeks ago my good friend Rich Lange, the manager of Servus in Bowness, invited me to a presentation on investing at Cadence Cafe. I will take any excuse to visit Cadence Cafe - great coffee, delicious wraps, cool art, and perfect atmosphere. But I also see the value in good investment knowledge, both for myself and clients interested in real estate as an investment.
The guest speaker that night was Paul Pflanz from NEI Investments. He made a really intelligent point about the way amateurs invest. We find out what was hot last year and snatch it up thinking the market will stay that way. But last year is a poor indication of what will happen this year.
My colleague Trevor Foraie always says, ‘you never want to be chasing the market.’ If you’re making this year’s investment decisions based on last year’s information, you are chasing the market. The odds of you having success are slim.
I made the case early this week that now is not a great time to buy an investment property. Last year would have been the right time. We're in a 'sell high' period.
Nenshi has said we’re in a housing crisis. Whether it’s looser laws on secondary suites, zoning changes, new builds, or any other solid idea from the intelligent people that work on this stuff, things are have to change soon in Calgary. That’s going to affect rental prices. Which will affect property values.
Picking your bracket this year based on what happened last year is a sure fire way to lose. Players have changed, players have improved or fallen off, coaches have moved, and conditions have changed. The hot teams now are not the hot teams from a year ago.
Even though I’ll be making Gracie wear lots of red, quoting Rick Pitino often, and referring to anything as ‘Russ-diculous’, I’m not getting my hopes up.
Here's my bracket. I've got MIchigan State, Syracuse, Creighton, and Louisville. I like the 11s and 12s this year.