Zero Hedge sat in on a talk Tuesday by hedge fund manager Seth Klarman, who sees very little potential in stocks during the 2010s. One investment category does pique his interest a bit, though.

Klarman said he is currently scouring for potential investments [in] private commercial real estate below the top quality. Publicly traded real estate investment trusts, however, have "rallied enormously" and are "quite unattractive," he said.