All posts by Keith Thompson

Highest, Biggest and Worst

Career, Life

Within the last 30 days we have witnessed three of the biggest financial swings in US history. Nothing like this has ever been seen before. It not only has never happened before, no one ever thought it possible.

30 days ago, the stock market was literally at the highest peak of all time. The Dow, S&P. Nasdaq etc. All were at the highest level they had ever been. March 16th, 2020 was the single day greatest point drop decline in history and this week saw the greatest single day point increase is history.

You ask, how is this possible? I don’t know. You could go for decades and not have one of these events. We have had all three in the last 30 days.

God created several (probably more) type personalities when it comes to money. People say things and tweet things and give opinions they would never do in their own life. Its for show and influence. When a person is deciding about their own money, all that goes bull goes out the window. It could be 500 dollars or 5 million dollars, the decision still comes down to what you are the most comfortable with.

It is about risk, anxiety, peace and sleep. I have a good friend who just loves, loves, loves to trade stocks every day with all the ups and downs. Then I have friends that only earn set interest at the bank. I will tell you though that the person who is getting 2% fixed interest on his saving account, to some people, might have look a little silly 30 days ago. Well, 11 days ago that same person looked like an investment genius.

The point I am making is to really ask yourself which approach will bring you the most peace and that is the way you should go. If trading stocks helps you sleep better, go be mister wall street. However, if is the slow and steady approach that helps you stay more comfortable, that is what you should do. Choose well. KT

The love of my life

Family, Life

Today is my anniversary to my beautiful wife, Elaine. 42 years! It seems like I should only be 42 years old.

She is literally the sweetest, most compassionate and most caring person I know. In Proverbs 31:10-31 the bible lays out what a virtuous wife is, and Elaine is all of that.

The passage starts with, “Her worth is far above rubies and the heart of her husband safely trusts her. She does him good and not evil all the days of her life.” Verse 20, “she extends her hand to the poor and reaches out her hands to the needy.” Verse 26, “she opens her mouth with wisdom and on her tongue is the law of kindness.” This is who I married 42 years ago.

We met in high school history class in the 11th grade and she used to read off my test papers because I was so smart. Maybe,,,, I got that backwards. Ha. By Christmas of that year we started dating and have been together ever since. She is the best wife, mother, partner, confidant, love, counselor and advisor any man anywhere could ever have. She is also my very dearest friend and has stood by me when it might have looked like I didn’t know what I was doing. She trusted me and loved me through it all.

Many times, in life people don’t really understand what they have until they lose it. Fortunately, I knew from the beginning what a treasure I had.

One funny story. The first time I went to her house was on a Sunday evening. I didn’t call ahead and tell her I was coming because I thought she might turn me down. Being the salesman I am, I just went and surprised her. Oh boy, it was a surprise all right. I show up and met her dad (Max) and he tells me she should be home from church shortly. Well, she comes in the door with her brother Wayne who is one year younger but looks like he is the same age. I didn’t know he was her brother and here I am at a girl’s house and she walks in with her boyfriend.  I was about to make a quick exit until she told me he was her brother and then she kissed me in the driveway. ha

So today the love of my life and I cerebrate 42 years of marriage and I am the luckiest man alive. KT

Ready, Willing and Able

Career

In real estate, we were always taught that the most important thing is a ready, willing and able buyer. With commercial real estate / hotels it is the opposite. The most important thing is a ready, willing and able seller.

I am writing this blog post March 24, 2020, four weeks after the start of the COVID-19 crisis.

In terms of hospitality market value, the past four weeks have been breathtaking. The speed and severity of value decline in the hospitality industry has simply never happened before. After 30 years in the business, I have been through some downturns and recessions, but nothing prepared me for this. It’s a funny thing, in that when people can’t be around other people, the travel & tourism economy almost stops.

There are several good things that have come out of this downturn. First and foremost is that for the last several years, many owners were holding out for every,,,, last dollar of value. They have disappeared. There are no conversations about why a hotel should be worth more next year and why a buyer should be willing to ‘pay up’. In short, the reluctant seller is now an aggressive seller. They all recognize that maybe, they should have taken that offer last year.

Over the past couple of years, many sellers have been arrogant and unbending, thinking that the hospitality economy will just keep getting stronger the longer they own the hotels. Well, that ship has sailed and now we have a new normal.

Second thing that has happened is that the sellers no longer argue about our fees. Third and lastly, everyone now know we are clearly in a recession. There are no opposing opinions now.

Therefore, what we have today is a new world market and a new economy where if an owner wants to sell, he now knows he needs to be ready, willing and hopefully,,,, able. KT

Christmas lights. It is a thing now

Life

There was a news article yesterday where people are starting to put back up their Christmas lights. The people that have done so said they wanted to give passersby’s some joy. Apparently, this is now a thing.

It is funny because Monday (day the Dow went down 3,000) I got in my truck to go home and somehow the audio was turned to Christmas music. I reached over to change it and thought, “you know what, it makes me happy,” so I listened to Christmas music on the way home. Even though the hotel markets were crashing, I felt happy when I got home. Ha.

In times like these we need to find a place of rest and peace and comfort and if you can, joy also. So, for me, I may be listening to Christmas for the next several months. KT

Call Me the Breeze

Life

After another day of devastation to the hotel markets, this afternoon I decided to listen to a little Lynyrd Skynyrd. Ha. One of my top five best songs of all time is, Call Me the Breeze. It was released in 1974 when I was junior in high school and It is probably the best cross over song every written that can be played as southern rock or bluegrass.

The band was formed in Ronnie Van Zant’s garage in Jacksonville FL in the mid-60” s and had three different names before settling on the name, Lynyrd Skynyrd around 1970. They named the band after their high school PE teacher Leonard Skinner and went on to be one of the best bands ever to grace a stage.

If you are older like me, the music from than time period is untouchable.  It can take your mind off your 401k and make you smile. Listen to it and see if you agree. KT