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At Manchester Capital Management, we have always believed that real estate can be an excellent long-term store of value —in today’s market, however, success increasingly depends on owning the right assets in the right places. The US commercial real estate landscape is in transition. Years of tightening monetary policy and price corrections have given way to a period of slow recovery, where discerning investors can find compelling opportunities in regions and property types supported by strong demographic and economic momentum. This is where we feel MCM excels — helping our clients cut through generalizations and find value where others may see only uncertainty. This month, we’re pleased to feature insights from Corbin Rich, Managing Director and Head of Real Estate, who offers a thoughtful update on the current state of commercial property markets and the key trends shaping future opportunities. “How is the market right now?” I often get this question about commercial real...
10.03.2023
It seems that Chatbots and Artificial Intelligence are invading every part of modern life. According to recent news reports, over 80% of Fortune 500 companies have adopted one of the new large language AI models.[1] Goldman Sachs estimates that AI adoption could enable a 1.5% increase in labor productivity resulting in an increase of 1.1% per year of Gross Domestic Product (GDP – the total value of all goods and services produced by the economy). Given that our GDP normally averages around 2.5%, a 1.1% addition to our average GDP could represent a 40% increase, significantly impacting corporate earnings and market valuations across the economy.[2] Certainly, AI models can organize, summarize, reconcile, and interpret labeled data beyond human capacity, but can they duplicate the more intangible aspects of human endeavors? These models increasingly mimic human behaviors and beg an intriguing question: are they more than just a better abacus that...
