Double Douchery

This blog is not morphing into a Walton-only rant, I promise, but I will comment on an email that Walton sent to investors last week.  The email announced that one of Walton's land funds is making a distribution on a partial property sale.  The fund sold just under half the acreage on one of its property's and is returning about $1 per share on an original $10 per share investment in the fund.  The property is being sold to an affiliate, which is a conflict of interest.  There is no mention of the property's original cost, so you can't put the sales proceeds into any context.  There is not enough information in the email to determine whether the sale covers the cost and fees related to the property.  Investors and their financial advisors need to press Walton to provide more information on the sale.