Trump gets kudos from billionaire Sam Zell
Published: Sept 26, 2017 12:01 p.m. ET
‘There’s been very significant change since Trump was elected in November, and change that is positive’
Sam Zell talks Trump.
Donald Trump may be getting an earful about his “take a knee” fixation this week, but at least one billionaire is focusing on the president’s upside.
‘Bluntly, the only way I can square anything is I focus on what gets done, not what’s said. On a measure of what’s gotten done, I believe there’s been very significant change since Trump was elected in November, and change that is positive.’
That’s Sam Zell of Equity Group Investments explaining to CNBC on Tuesday why American corporations is willing to invest money on a longer-term basis now than it was during Obama’s “antibusiness” administration.
Specifically, Zell pointed to deregulation, tax cuts and massive infrastructure spending as strong business tailwinds.
“Just think that all of a sudden there are no industries that are piñata[s] of the president,” Zell said, using Obama’s campaign against fossil fuels as an example.
While he claims to be more optimistic now than he was six months ago, Zell, who chairs five NYSE-listed companies, also says investors need to be selective in this climate because we’re not in a “buy anything” market.