A First: Sam Zell Buys Gold

In an interview with Bloomberg TV, billionaire founder of Equity Group Investments Sam Zell said, “For the first time in my life, I bought gold because it is a good hedge.” This according to an article in Bloomberg. The article explains that investment in new mines dwindled after metal prices tumbled in 2011, and gold is down by almost a third from its peak. According to Zell, “Supply is shrinking and that is going to… Read More

Sam Zell Gives Us The Hard Truths: Growth Realities, Regulations and Interest Rates

Chairman of Equity Group Investments, Sam Zell, explained his unconventional buying techniques in a market he believes is “distorted” on CNBC’s Squawk Box. Zell discussed how his company has been investing in certain energy assets because he thinks the opportunities are cheap, and, “in many respects, they’re purchasable at huge discounts to any kind of replacement costs or future competition.” Crude prices are down about 55 percent from their 2014 high. “The price rout, stoked… Read More

Billionaire Sam Zell Sees Recession Next Year

Billionaire real estate investor Sam Zell, who profited from selling just before the 2008 crisis and buying just after, predicts that global forces will lead to a U.S. recession next year. “I’m not being pessimistic, I’m being realistic,” he said. He also noted that Nigeria cut its economic growth projection for 2016 nearly in half, commenting “for an emerging market like that, it’s a disaster, and that’s happening all over the world.” He continued: “So,… Read More