Indian Wells, next to Palm Springs, is about 2 hours drive from Los Angeles. Situated in the desert, this beautiful city is surrounded by layers of hills, and is a popular retirement destination as well as a winter snowbird destination. The area strikes a perfect balance of quietness and convenience; for the diners, there are many international choices. It feels like a perfect location for sanctuaries and has been a popular resort for hollywood stars. Four out of the last five years, we went to watch Indian Wells Tennis Master in March. This year, it was all the more special as we made a detour to UCLA to dine with our son.
Since Larry Ellison became the owner of the tennis tournament, he threw a few hundreds millions to make continuous improvements to the tennis gardens, bring in nice chef, renovate the gardens, improve the fans’ experience and raise the prize money for the players. As an example of improving fans’ experience, he bought the piece of land next to the tennis stadium, and turned it into a huge grass-surface parking lots. We paid $25 for the parking for a day and took a short walk to the tennis garden.
The tournament has grown in the past few years. This year, we had a hard time to get the tickets for the final, and ended up paying $500 per ticket. We were somewhat lucky to be treated with two great finals, both went the distance of three setters. Seated so much closer to the tennis court, we felt the pace and the power. While disappointed that Federer lost to Thiem in a tight final, it was not meant to be , and it was hard to dislike Thiem.
On the day before, we thought we were luckier to hold that $70 semi-final ticket, to witness the 39th match between Nadal and Federer. The ticket could be easily resold at five times of the original price tag on the tournament website. Much to our disappointment, Nadal withdrew hours before the match. He should have come play a few games, and it would have made it so memorable for the 14,000 tennis fans in the stadium. The tournament organizer did a great job to put together a last minute double substitute with Djokovic/Samp
ras against McEnroe/Haas.
Indian Wells Resort maybe the hotel of choice for the tournament. I saw Haas, the tournament director, at the hotel lobby. And had a brief eye contact with Thiem, the subsequent champion, at the hotel entrance as he got ready to the stadium in the morning of the final.
After Indian Wells, this may be the year to make the ultimate tennis pilgrimage to Wimbledon.
Investing in REITs
By Ralph L Block
Many middle class look into rental property as they journey beyond mid-life. Few talk about the nuts-and-bolts of tenant management, property management, its opportunity cost and its relative return on investment. Different from buying a few shares of stock, a rental property is a larger and often illiquid investment with longer term impact. There is some risk and a bad tenant makes a bad day for you.
REIT (Real Estate Investment Trust) is the closest liquid investment that is accessible and achieves similar investment diversification as buying a rental property without the nuts-and-bolts, and also without the same pride of home ownership.
In its fourth edition, this well-written, well-organized REIT book is perfect for new investors; and is a good refreshing course for seasoned ones. Last revised in 2010, it gives an overview, the REIT categories, the investment principles, the how-to set up REIT portfolio, without getting into tons of charts nor complex math.
This book provides solid fundamentals towards investing in REIT which could be an alternative to owning rental property.
The Miracle of Mindfulness
by Thich Nhat Hanh
In this small book, Thich Nhat Hanh uses gentle stories and simple exercises on how to be more mindful and be conscious of the moment. It starts with some simple breathing exercise, some simple tips to focus on the moment, and progresses through the deeper buddhist meditation experience.
I find the simple medication to be calming and am convinced that a daily meditation can sharpen the mind and the concentration in the daily hustle-rustle.
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