We hadn't heard of Tom Barrack before but Fortune Magazine ranks him as the world's best real estate investor, whose made billions in the U.S. market.
But now Barrack is cashing out (of the US) and buying overseas
He's getting worried about the 'one way players', ie those who think property only ever goes up
We've seen a few top hitters including Warren Buffet share this view, and while the timing element is normally is hard to get right - would you want to bet against such heavy weights?
However one point to think about is that if Barrack doesn't want to be in US property anymore then why announce the fact beforehand? Perhaps he has an ulterior motive...
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