John Khoury – Asymmetry and Opportunity in Public Real Estate at Long Pond (EP.474)

In this episode of Capital Allocators, Ted Seides interviews John Khoury, founder and managing partner of Long Pond Capital, a hedge fund specializing in publicly traded real estate securities. Khoury discusses his background in real estate, the evolution of the public real estate market, and Long Pond's investment process, which focuses on identifying and exploiting asymmetry between intrinsic value and stock price. The conversation covers various real estate subsectors, including data centers, apartments, industrial, office, retail, and hotels, as well as the impact of passive investing and pod shops on the sector. Khoury also introduces Long Pond's new actively managed ETF (LPRE) and expresses optimism about the future of real estate investment.