Wednesday, October 10, 2007

Sam Zell, self-described "professional opportunist"

Zell built his empire through a willingness to buy assets when everyone else hates them, according to someone that attended the private soiree (Beverly Hills?) where Zell explained what he does with his money. "So what else is Zell buying? He's about as contrarian as it gets. He bought real estate when it was down and out in the 1970s... and he's buying newspapers today. Many of the nation's largest newspaper publishers are down more than 50% from their highs."

Also: Zell is worth billions of dollars more than Donald Trump, is the biggest warehouse/distribution property owner in Mexico and runs a "secret investment society".

He'll make big money while you carry big debt. Ouch. (end of post)

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