A message from Sam Zell (Creator of the RIET)

[bbuzzard]

Sam Zell is a legendary real estate investor who created the REIT (Real Estate Investment Trust). Late this year he sold his REIT to Blackstone, a large private equity and real estate investor. This is his Christmas card (yes, it's real, I verified it with a reliable source). Somewhat finance-nerdish, but funny and not a little bit frightening to those is us looking for yields to live on.

http://www.yieldsz.com/

For those who want some background on the credibility of the source, I give you:

Samuel "Sam" Zell is an American billionaire real-estate entrepreneur. With an estimated net worth of US$4.5 billion, he is ranked the 52nd richest American. Zell received his BA (1963) from the University of Michigan and his JD (1966) from the University of Michigan Law School. His early years in real-estate investment could be traced back to, while an undergraduate, purchasing apartments in Ann Arbor with his fraternity brother, the late Robert Lurie, Zell's longtime partner and friend.

The pair went on to create the Equity Group Investments, L.L.C., which spawned three real estate public companies, including: Equity Residential, the largest apartment owner in the United States, Equity Office Properties the largest office owner in the country, and Manufactured Home Communities, a mobile home company. In addition Sam has created a number of other public companies, and many private companies.

Mr. Zell is also Chairman of Capital Trust Inc., a finance and investment management company focused on the commercial real estate industry, and Anixter International, the world's largest distributor of communication products and electrical and electronic wire and cable.

He helped found the Real Estate Department at the Wharton School of the University of Pennsylvania, as well as the Zell-Lurie Institute at the University of Michigan. Zell also endowed the Zell Center for Risk Research at the Kellogg School of Management at Northwestern University, and the Samuel Zell and Robert Lurie Real Estate Center at the Wharton School.