Drive For Show, And Putt For Dough
- The long game is the best separator between the best tour pros and average tour pros.
- So, it really boils down to being able to consistently strike the ball with the greatest accuracy.
- “Greatness isn’t just talent. It’s talent applied consistently”. – Gary Player.
I am sure you have heard the saying, “drive for show, and putt for dough”.
It’s true, many golf matches are decided on the putting green, but the irony is that distance is actually the most important ingredient to winning. Mark Broadie, author of Every Shot Counts, describes how the long game helps the most:
“The long game is the best separator between the best tour pros and average tour pros. The long game explains about two-thirds of scoring.”
He explains that distance is far more of an indicator of success than accuracy. If you have the choice of giving someone five extra miles per hour in clubhead speed or have him hit the corresponding amount of more fairways, net earnings will increase more from the extra swing speed. Simply put, when you drive for show, you are also earning more dough!
But obviously, if you can’t close the deal and sink a putt, the “drive for show” part is meaningless. So, it really boils down to being able to consistently strike the ball with the greatest accuracy, or as Gary Player explained:
“Greatness isn’t just talent. It’s talent applied consistently.”
REIT shares have lagged the broader markets thus far this year, and the overall REIT industry is trading at an average NAV discount of approximately 12%, according to SNL. According to Floris van Dijkum with Boenning & Scattergood, “hotels are trading at a 9.8% discount… and the mall and strip sectors are trading at wider-than-average discounts of 37% and 27%.”
As we search for the unpolished gems, we are tirelessly looking for shares in REITs that could provide us with the best overall returns. We cover a broad base in the REIT sector that includes over 125 names, and we are always looking to add more research, especially when we run across a new name. Floris van Dijkum explains:
“Sporting one of the sector’s strongest balance sheets, Sunstone Hotel Investors (NYSE:SHO) continues to make its portfolio more relevant by selling the bottom and funding capital intensive projects with strong returns and expanded operating margins.”
As you see, Sunstone sports the same ticker as seen in the title of this article, and now I will explain how the REIT “drives for ‘SHO’ and putts for dough”.