Thursday, March 05, 2015
Wrong On Many Levels
I am hearing some crazy things about American Realty Capital Properties (ARCP), Cole, and RCS Capital (RCAP). The rumors and finger pointing are flying around so fast someone is going to lose an eye. Then I read a blog post on an advisor rumor website (I am not going to link to it) that is so wrong it would be laughable if it was not scary. The post is essentially long quotes from several broker dealer analysts upset by changes at Cole Capital. The problem is that the article flips back-and-forth, confusing ARCP, which owns Cole Capital, and RCAP, which owns broker dealers and distributes AR Capital-sponsored alternative investments, and treats the two companies as one entity. If we have learned anything over the past four months it is that ARCP (and Cole) and RCAP are separate companies. If you are going to spread rumors, at least get the companies straight.