A case for a turnaround in this struggling sector
In December, investment guru Warren Buffett auctioned off his wallet for charity. It drew $210,000 – not so much for the leather as the content: a secret stock tip. That pick was for a real estate investment trust (Reit) called First Industrial, and the news set the whole industry ablaze. The Morgan Stanley Reit Index rose almost 4 percent that day. Over the next month Reit stocks continued to rise more than 12 percent, and their IROs began to think their long-awaited recovery had arrived.
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