I heard Sam Zell speak at a private wealth conference last month. Here are some highlights: 1. “Although I made a fortune going into China and Latin America early, I don’t believe the upside in an emerging market out weighs the rule of law we have here in the United States” 2. “Fed mispriced capital needs and we will see the affects for years” 3. “We are seeing a worldwide effort to devalue the dollar. Zell bought gold for the first time. Both as an inflation hedge and store of value” 4. “Demand for urban living will continue to grow” 5. “We have over done it with industrial. Won’t be surprised if in 5 years the conversation is around repositioning industrial” 6. “Bottom up vs top to bottom approach. Know the streets. Less competition this way” 7. “Work from home is a bunch of bull shit. We are social creatures.- not sure how people are going to make the best decisions possible when the only option is to zoom” 8. “Not in my back yard was invented by people who didn’t want mobile home parks. This gave us essentially a monopoly. It was the best real estate deal we have ever done” 9. “I need to be right 70 percent of the time. Never put yourself in a position to get knocked out of the game.”
@BrandonMBlum @BrandonMBlum and Sam Zell - real estate legends 👏🏻👏🏻 love this
@BrandonMBlum @vanckzhu I like Sam, direct and unpretentious from what I've seen. Worth listening to, he has the track record
@BrandonMBlum old man begs for Federal Reserve welfare.
@BrandonMBlum So many great points but #6 stands out for the non-institutional investor.