Watch that Rat Hole: And Witness the REIT Revolution

Leaving his Pennsylvania steel town home as a young man, author Kenneth D. Campbell scrambled to land a magazine writer’s job in Manhattan. He followed his new boss’s instruction to “Watch that rat hole,” newspaper slang for a “beat” or coverage topic. Campbell’s “rat hole” was the real estate investment trusts or REITs, untested entities just approved by Congress.

In Watch that Rat Hole, Campbell intertwines his personal journey with his unique observations as an investment newsletter editor witnessing the REIT Revolution—his rat hole. He tells how that casual assignment became a distinguished lifework in three areas:

Writing—Campbell wrote an influential REIT stock market newsletter and co-authored the first hardcover REIT book;

Investment banking—He and his partner advised on more than two dozen mergers and acquisitions;

Managing money—Campbell co-founded a major realty stock money manager.

In addition, he provides an insider’s take on investment styles of 1980s activists including Carl Icahn, Michael Milken, Leland Speed, Sam Zell, and Warren Buffett and their nearly two dozen company purchases and takeovers. And, he presents valuable insights into a number of business and stock market issues.

Offering personal recollections of the world of real-estate investment, Watch that Rat Hole gives insight into REITs, this little-understood—but pivotal—area of business and finance.