The S&P 500 has risen more than 160% since 2020, while US multifamily housing, a $4 trillion essential need asset class, still trades more than 20% below its highs. Steven Nathan on why that gap is where opportunity sits, and how SWAN Wealth Management accesses US multifamily through private credit that sits ahead of equity in the capital stack.
Private markets are more crowded than ever. More capital chasing the same deals has compressed the edge that private equity, venture capital and private credit once offered, and relying on historical private market returns now carries real risk. Steven Nathan explains why SWAN Wealth Management deliberately operates at a smaller scale than the multi billion dollar funds competing for the same large transactions.
A father’s teachings, applied to a multifamily investment strategy. David Murray draws the line between the principles he was raised on and the way SWAN Wealth Management approaches US private real estate: patience, discipline, and owning assets that people genuinely need.
It was the best of times, it was the worst of times. David Murray on Trump’s dose of tariff medicine, the side effects investors are already feeling, and whether there is an effective antidote to investment anxiety.
Certainty is a myth, and investors pay for pretending otherwise. Drawing on a long career in sell side research and on Daniel Kahneman’s work on how the brain defers to the least demanding mental effort, David Murray sets out how to invest sensibly when markets turn more uncertain rather than less.
High net worth investors lifted their allocation to private assets from 32% to 44% over five years, funded largely by cutting public market exposure, with family offices expecting to go further and multifamily residential real estate a particular focus. What do they know that many investors do not?