Hello this is Kirk Spano with Margin of Safety Investing and Seeking Alpha and

today we will be interviewing Brad Thomas who is a real estate expert that I've been following for boy quite a long time.

His service on Seeking Alpha is I reet on Alpha.

You can check for the transcript over on Seeking Alpha, which should be published about the time that you hear this.

One of the topics that's been in a couple of your articles recently has been the idea that we may have a recession

coming and how do we use Reeds as a bit of insulation and income generation

during a potential recession what are we looking for as far as characteristics go with those types of reets?

What are your thoughts on reets that should stand up to a recession?

Do you even think that we need to worry about that just from your experience with cycles?

You know, I wish I knew if we were going into a recession or not. You know, some argue were in a recession.

I'm of the belief now that maybe we may we

may avoid a recession but but I'm preparing our readers and our base for a

recession because you know having lived through the great one myself I really

think you know and there's there's so much an investor can can utilize from looking at

how real estate and REITs and specifically these property sectors

have managed through these various recessions and now I've lived through quite a few. So I'm preparing and I'm

preparing our our team for for recession and so some of the sectors that we're

really avoiding completely are of course the hotel sector the hotel

sector typically does not do very well in recessions at all and again we can

rely on history now to look at all the lodging

reach and how they've underperformed you know in those recessions if there's one

sub-sector of lodging that probably I would say I would I would I would not

...