"Comparing REITs and money market funds does not make much sense," Ralston tells GlobeSt.com. "Nothing is as liquid as a money market fund--it is just a bunch of T-bills and commercial paper."
But he maintains liquidity "is reasonably good in REITs, particularly for individual stock investments up to $1 million-plus." Ralston argues liquidity is "a portfolio issue, not an individual investment issue."
He says "not every investment needs maximum liquidity." Instead, "the portfolio needs adequate liquidity" because "some investments (in the portfolio) may be fairly illiquid."
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