Rebuilding a Mac SE as a server again (Hackaday)
Around this time last year, [Sprite_TM] took a 1980′s-era Macintosh SE and
rebuilt it as a home file server. He used a Seagate Dockstar as the new
motherboard, but over the past year he's been annoyed with the fact that the
Dockstar doesn't have real SATA ports. Using USB to SATA converters on a
server [...]
Hackaday
Old Stock
"Stock Refinishing Part 1- Removing the old finish"
Together, These 4 Factors Create Waves Of 'Risk Aversion' That Are Rolling Thru The Investment Markets.
The stock and bond market turmoil of the last two months connects to 4 interconnected macro business forces. Together, these 4 factors create waves of "risk aversion" that are rolling through the investment markets.
G-7 growth has stalled. The US, Japan, UK, and Europe are not going to grow in the second 1/2 2011. A shallow contraction is now a real possibility.
Sovereign debt downgrades and volatility is affecting the condition of the worldwide banking system, especially in Europe.
Companies are nervous to hire employees or to speculate in a doubtful future, particularly when regulatory reforms aren't yet clear.
Presidencies are squeezed by concurrent pressures for austerity, impulse and reform a virtually impossible job.
The evidence of "risk aversion" turns up in the dilating spreads of corporate bonds and real-estate versus sovereign debt -- regardless of if that debt has been latterly down-graded (as was the argument for both Japan and the US in August). It also turns up in the rising volatility in the stock market.
Finally, it reinforces the unwillingness of large companies and stockholders to make business choices and to take well-considered risks that are obligatory for a healthy, growing economy.If we looking a worldwide on real-estate market,we can see that Croatia real estate is good market-place for business.
How can this risk caution affect commercial real-estate? In the first few weeks after the US debt downgrade, real estate stocks were also caught up in the chaos. Real-estate investment trusts (REITs) are traded on the world's major stock exchanges, so they were vulnerable to an elevated level of "stock market noise".
However , in the weeks that followed, REIT shares recovered over half of this price decline, although other financial stocks didn't (Worldwide REITs were down 9 % from their July peak as of August 31. Finance stocks were down 30 percent to forty %).
Investors noticed that commercial real estate income streams aren't as uncertain as charges earned by banks, because lease from tenants is based on contractual leases. A G-7 recession hurts the capability of these income streams to grow, but it doesn't interrupt the flow of income.
The dilating spreads of real estate vs the falling yields on US, UK, EU Dollar or Japanese govt. debt now look more interesting to some risk averse investors. Even though government debt risks are growing, and in a few cases being down-graded, risk averse stockholders have bid up the prices for many highly-rated sovereign bonds. This makes the wide yield spread on real estate relative to these bonds look more engaging for income-sensitive stockholders.
In the world of private equity real estate, fully-leased property has maintained its attraction for academic investors, like giant annuity funds and sovereign wealth funds. Big transactions in London, NY City, Paris and Sydney continued to occur in July and August at much the same pricing as earlier in the year. Although macro-economic risks are rising, the now-wider spreads compensate financiers for these risks . In reality leased real-estate now competes with sovereign bonds and with commodities for "safe haven" status in a risk averse investor market.
Where should investors be putting their cash to work within the arena of global real estate? Stockholders should be very careful about investing in real estate development companies, which derive a huge portion of their revenue from development, condo sales or sitting on enormous land holdings in the G-7 nations.
Few real estate markets in developed countries will be in a position to support an active development pipeline in a slow to no-growth economy. As an alternative investors should target companies or REITs that emphasize in-place revenue from fully-leased buildings in major commercial centers. Although income growth will be slow, steady real estate income at enticing yields can replace revenue lost from falling govt bond yields.
At the same time, a smaller, but significant, part of a worldwide real estate portfolio (ten % to 30 p.c, depending on risk tolerance) can milk growth factors still at work in emerging markets like Brazil, China and India. These countries can support commercial development, leasing and income growth.
Infrequently REITs or property companies based in developed economies like Australia, Canada, HK, Singapore or the US are accessing these growth markets. This brings the safeness of developed country accounting, money controls, and governance to growth markets, which often suffer from lower transparency,writes tagza.com.
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