CONCORD, Calif., March 27, 2017 /PRNewswire/ — Lodgepole Fund No. I, LLC just closed out its seventh consecutive year of 10+ percent net returns, attributing its consistent performance to strong and experienced management and employees.
“This is the seventh consecutive year that Lodgepole Fund has earned a net return of over 10 percent for its Members,” says John Simonse, President of LHJS Investments, LLC, and one of the Managing Members of Lodgepole Fund No. I, LLC.
Simonse went on further to explain, “Most real estate loan investment funds return at most 6-7% net to their Members. The fact that Lodgepole Fund has returned over 10% for 7 years running is nothing short of extraordinary.”
When asked how Lodgepole Fund was able to complete this feat, Mr. Simonse stated, “We have a very strong management team and a very strong staff who have been with us for over 10 years. What is really amazing is that over this time period we have also not had one foreclosure of a loan.”
Asked how an individual could invest in Lodgepole Fund, Mr. Simonse stated, “Right now the Fund is closed to new Members. However, we will be looking to raise new capital this summer.”
About Lodgepole Fund No. I, LLC
Lodgepole Fund No. I, LLC has been providing construction and development loans to builders and developers in California since 2010. Lodgepole specializes in providing construction loans for high-end residential homes.
About John W. Simonse
John Simonse has been actively involved in the development and investment in Real Estate in the San Francisco Bay Area for nearly 40 years. He has personally overseen the funding and management of over $1 billion in loans and development projects. Currently Mr. Simonse actively manages a portfolio with a value of over $200 million, which includes three real estate loan investment Funds.
Mr. Simonse graduated with highest honors from the United States Merchant Marine academy with a Bachelor’s of Science degree in Marine Engineering. His father, Herman Simonse, was a renowned real estate developer in New Jersey, who just recently retired at the age of 86! John Simonse followed in his father’s footsteps by buying his first property at the age of 20.
After graduation from the Academy, Mr. Simonse worked for the Department of Defense and was a lieutenant in the United States Naval reserve for 10 years from which he was honorably discharged. Mr. Simonse also worked in the U. S. Merchant Marines, where he sailed on cargo ships to over 65 countries and attained a United States Coast Guard license of Chief Engineer of Steam, Diesel, and Gas Turbine Engines of Unlimited Horsepower. After retiring from the Merchant Marines, Mr. Simonse concentrated in real estate and formed his first real estate Investment fund in 1999.
Mr. Simonse has been successfully managing real estate investment funds and development projects ever since. He currently resides in Danville, CA with his wife Annie and their brood of 6 children.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/lodgepole-fund-no-i-llc-continues-streak-of-strong-returns-with-7th-consecutive-year-of-double-digit-net-returns-300429367.html
For the past few years, the world bore witness to the birth and growth of one of the most ambitiously futuristic companies ever — Elon Musk’s tech company Tesla, Inc (NASDAQ:TSLA). Although Tesla experienced a lot of ups and downs, it’s not so far-fetched to think that its strategic moves are paying off, and that its investors will be reaping the benefits. And it’s not just Musk who believes so.
One of Tesla’s most notable investors is billionaire Ron Baron whose company Baron Capital Management owns around $300 million worth of Tesla shares. Baron is well-known for his buy-and-hold attitude when it comes to stocks. That simply means he buys stocks on a long term basis. In the case of TSLA, he is planning on holding out for the next 13 years at least as he believes the ticker has nowhere to go but up.
Thursday, it seemed as if the machines took over on Wall Street, where automated trading and a possible trader's error sent the collective stock market into a tailspin never seen before.
NEW YORK (AP) — A computerized selloff possibly caused by a simple typographical error triggered one of the most turbulent days in Wall Street history Thursday and sent the Dow Jones industrials to a loss of almost 1,000 points, nearly a tenth of their value, in less than half an hour. It was the biggest drop ever during a trading day.
Supposedly, government regulators are looking into the issue. However, might this be another financial reform that ought to be looked into a little more closely? Is this type of automated trading a good thing, overall, for the market?
I think not.
The Spain debt outlook is nothing like that of its Greek counterpart. When you get right down to it, Spain looks more like the United States than it does the other European "PIGS" (Portugal, Ireland, Greece and Spain, or "PIIGS," if you wish to include Italy). It's because of those U.S. similarities that Spain is fairly unlikely to share the fate of its Mediterranean neighbor, Greece, which is essentially insolvent.
Indeed, in one respect, Spain's position is actually much better than its U.S. counterpart. We'll see why shortly.
Like Greece, Spain suffered from a reviled dictatorship that exited the scene in the 1974-1975 time frame. The dictatorship in Greece ended in 1974 with the collapse of the "Regime of the Colonels," while the curtain came down on Spain's autocracy in December 1975 with the death of General Francisco Franco.
However, both the tenure of the dictatorships and the two countries' reactions to the collapse of their respective regimes were quite different.
Greece's dictatorship lasted only seven years, was never stable, and occupied itself mostly with corruption, military expenditure and saber rattling in Cyprus. Franco, on the other hand, after winning a truly devastating civil war in 1939, devoted himself over his remaining 36 years to developing his country's economy on a more or less free-market basis, with low public spending, while maintaining an international posture of caution and neutrality.
With the two countries traveling down such divergent paths, it's no surprise that they experienced very different outcomes. By 1975, Greece was a total basket case, with only its offshore (and non-taxpaying) shipping sector flourishing, whereas Spain was a rapidly developing tourist magnet, with a substantial industrial economy behind it.
After 1975, the two countries continued to develop very differently. Greece – which had exiled its king, Constantine II – elected the leftist socialist Andreas Papandreou and in 1981 joined the European Union (EU), where it became a master in the art of subsidy corruption: After all, Greece was the union's poorest country at that time.
Spain, on the other hand, kept King Juan Carlos, who thwarted a coup in 1981, elected a moderate social democrat government under Felipe Gonzalez followed by a very good center-right one under Jose Maria Aznar. The nation also developed the best luxury tourism sector in Europe, together with one of its best business schools in the University of Navarra's IESE.
Today, while both countries have similar per-capita GDPs – $33,700 for Spain and $32,100 for Greece – Spain is ranked 32nd on Transparency International's Corruption Perceptions Index, while Greece is ranked 71st – below much poorer countries like Bulgaria and Ghana.
Spain's debt load – at about 55% of GDP – is less than half of its Greek counterpart. Clearly, Greece's GDP per capita needs to be sharply deflated for the country to regain competitiveness; it's much less clear that Spain needs to do the same.
In addition to a budget deficit of 11.5% of GDP in 2010 – very similar to that of the United States – its banking and real estate mess (though the largest bank, Banco Santander SA (NYSE ADR: STD) is pretty solid), and its relatively low debt, Spain (also like its U.S. counterpart) also has itself a left-leaning government with a proclivity for overspending.
Prime Minister Jose Luis Rodriguez Zapatero was unexpectedly elected on an anti-U.S. platform after a terrorist attack in 2004, and was re-elected in 2008 – both times by small majorities. Zapatero is undoubtedly responsible for much, though not all, of Spain's budget problems; he undertook two economically damaging "stimulus" packages in 2008 and 2009 and has raised public spending from about 38% of GDP when he took office to 46% of GDP today.
In fairness to Spain, the big run-up in spending wasn't due to a big run-up in poorly thought out handouts: The country moved enthusiastically – perhaps too much so – into the green-technology sector, to the point where an all-too-familiar boom-and-bust scenario played out.
Like the United States, Spain is stuck with its left-leaning administration until 2012 (both have four-year electoral cycles; Spain's is seven months earlier). However, it has one enormous advantage over the United States – a savings ratio (personal savings as a percentage of disposable income) that stood at an extraordinary 24.7% in the 2009 fourth quarter, compared with a mere 2.7% in the latest month here in the United States.
Admittedly, Spain's saving is highly cyclical, so the annual average is only about 20%. Nevertheless, the much-higher level of domestic saving suggests Spain should be able to finance its budget deficit domestically much more easily than will the United States.
With public debt also lower than in the United States – let alone in Greece – Spain's position is thus fundamentally sounder. It should be relatively easily able to navigate the current storm and ride out the current government's spendthrift tendencies – giving the voters the chance to put a more-fiscally-appropriate government in place in the next election.
That being said, investors have to acknowledge that panic can trample logic. Indeed, as U.S. investors learned all too well back in 2008, in a market panic even well-run institutions can get into trouble (not that many of the Wall Street houses of that year were well-run, but a few were).
The same is true of countries, and Spain under Prime Minister Zapatero has weak-and-economically damaging leadership, which the voters are stuck with for another two years. Nevertheless, with its debt rating still a very respectable "AA," only the worst storm should cause Spain to take the same kind of crisis-spawned battering that Greece continues to face.
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Interesting story on how the Goldman Sachs vs. SEC case could help with financial reform.
When the U.S. Securities and Exchange Commission announced Friday that it had filed a fraud action against Goldman Sachs Group Inc. (NYSE: GS), the news hit the financial markets like a carefully targeted bomb.
The Goldman Sachs fraud case, which relates to the investment bank’s subprime-mortgage business, caused the financial giant’s shares to nosedive 12.8%. The fallout spread to the broader markets, too, causing the Dow Jones Industrial Average to drop 1.1% and the Standard & Poor’s 500 Index to skid 1.6%.
That reaction wasn’t overblown.
Depending on how rough the SEC wants to play it, the case has the potential to shut down the cartel known as Wall Street. It could even jump-start the kind of sweeping overhaul that legal or regulatory reformists have so far failed to launch.