Introducing a new category: Real Estate (actually I sort of pre-introduced it already).
Like a good value investor, during the global property boom I completely ignored real estate. Now that values have fallen in many places, continue to fall in others, and are about to fall in still others, the asset class is getting interesting.
Between all the REITs that trade publicly and the many private equity/opportunity funds that invest in real estate, there is ample opportunity to practice real estate investor manager selection. And for those who do it right, the rewards are ample too: If you'd invested in Vornado when Steve Roth took over, you didn't have to do much else. If you'd had the foresight to invest in a young Barry Sternlicht when he first went out on his own, as the Pritzker and Burden families did, you would have done well too. If when the Shorenstein Group started taking institutional money you invested some with them, as David Swensen did, you are not complaining.
To evaluate real estate investors, you have to know how to evaluate real estate investments. So stay tuned as I try to educate myself about how this world works.