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FYI: Many investors think of real estate investment trusts (REITs) as a distinct asset class because, in aggregate, they historically have had relatively low correlation with stocks and bonds. In addition, their returns were not well-explained by the single-factor CAPM. Regards, Ted http://www.etf.com/sections/index-investor-corner/swedroe-real-estate-isnt-special?nopaging=1
