SRG - If You Invested $10K in This Warren Buffett Real Estate Play 3 Years Ago You're Down 70%
There's one very important thing you have to get used to if you decide to be an active investor: You will make mistakes. It is inevitable -- even some of the best investors in the world do. This is why it's notable that investors who followed Warren Buffett's lead on Seritage Growth Properties (NYSE: SRG) three years ago have now lost about 70% of their capital. Here's what's happened.
Seritage Growth was created by troubled retailer Sears Holdings . The real estate investment trust (REIT) was basically a way for Sears Holdings to sell some of its properties in an attempt to raise the cash it needed for its recovery efforts. That meant that, from the start of its life, Seritage was also a turnaround story, given that its largest tenants were struggling Sears and Kmart stores.
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If You Invested $10K in This Warren Buffett Real Estate Play 3 Years Ago, You're Down 70%