The noted investor sees overpricing in stocks and real estate, and patiently holds a big wad of cash. : Billionaire investor Sam Zell is sounding a bearish note on equities and real estate alike, telling Bloomberg TV: "The stock market, despite all its gyrations, is still at an all-time high. Real estate is priced to perfection...I'm a bit like that old Wendy's commercial, "Where's the beef?"... I think it's a very challenging situation, one that requires discipline." Indeed, he feels most comfortable holding cash, agreeing with his Bloomberg interviewer's comment that "There is a ton, a tsunami, of capital chasing too few opportunities."