“Paul Reichmann to plan comeback”

The recently-retired Real Estate tycoon who, alongside his brother, amassed a fortune of over $14 billion, but was muscled out after a $20-Billion-deal-gone-bad betting on Canary Wharf in London, is planning to stage a comeback launching a venture called PR Capital Corporation, with $3-4 Billion of family funds. He says he will open the floor to private investors but has no plan of taking the company public. He says he plans to have the company operating by March 2007.

The reason why I find this interesting is that this man spent most of his life in real estate. He knows the market. Why would he get in at a high?

I don’t know why I’m thinking this, but if I’m right Paul in the (likely) event of a severe housing collapse, may want to buy everything. Think about it. Undervalued buildings, homes, foreclosures, everything is on sale and you have 4 Billion dollars to spend. I say he’s putting an obituary on the housing market for March 07. Just a thought.


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