Zell Wonders If Market In 10th Inning, As Sternlicht Eyes Fed Manipulation

If Starwood Capital Group’s Barry Sternlicht could figure out an easy and liquid method to short Manhattan real estate and go long Miami on a short term basis he would do it, the hedge fund manager told the audience at the Invest for Kids Conference in Chicago, the city where he got his start in real estate. Sternlicht spoke after real estate mogul Sam Zell, who recently unloaded $5.4 billion of rental units to Starwood, entertained the audience by musing the equity markets might currently be in the 10^th inning of a nine inning game. Zell, like Sternlicht, cast a wary eye on Fed stimulus and artificial market price repression.