Dear El Cardinale’,
I saw you at the InterFace Carolinas conference last week – I recognized you from your portrait. What did you think was interesting?
– Broker Buddy
Dear Broker Buddy,
Speaker Mark Vitner from Wells Fargo is always a favorite of mine. Not only does he have amazing insight, but he is enjoyable to listen to as well. Some of my favorite gems from his remarks are:
The Economy: He called the inverted treasury yield curve a “Millennial curve” because it is “not working”. He predicts that the economy will grow until 2021, but at a softening pace.
Trump and the Chinese: He bought a used copy of “The Art of the Deal”. He predicts that there will be a lot of posturing and fretting, then a deal with China at the last minute. He expressed an opinion that trade deals in the past have been bad for the US. While reflecting on Trump’s “crazy like a fox” approach, he shared that in Chinese the words “liar” and “crafty” are very similar!
I had to ask about China and BMW: Uncertainty about trade will dampen Greenville, S.C. growth. China is South Carolina’s No. 1 export destination. BMW exports 70 percent of its models there.
The Future of SouthPark Mall: Like Eastland Mall, it will be demolished. Unlike Eastland, it will not be a field of daisies. SouthPark will be something different – a fun shopping and entertainment destination. He sees the property as a covered land play – the value is in the parking, zoning and infrastructure. Not in the leases!
Next time you spot me out and about, be sure to come say hi. I love meeting new folks. Our call me and let’s grab some coffee.