Wilbur Ross Quotes

102 Wilbur Ross Quotes

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[In December 2011] I think shale gas in the US and in China is going to transform energy supply. Because it’s far less polluting than coal or conventional oil. Far cheaper to produce and therefore is going to change the world’s energy back.
Wilbur Ross

[In December 2011 on the bureaucratic red tape in India.] We find it easier to operate in China and Brazil than in India.
Wilbur Ross

[In December 2012] I think a lot of investors are substituting yield for credit-worthiness, because there’s such a desperation to get a decent yield that people are making what I think will prove to be very shaky credit judgements in order to capture higher yield.
Wilbur Ross

[In December 2012 on private equity and low cost financing.] The good part about it is that it’s low cost. The bad thing about it is that it’s usually five to seven years in maturity and therefore you’re building in a refinancing risk at the end of the present maturities that are being created. Because five to seven years from now we’re going to be in a much higher interest rate environment. So a guy who had mediocre coverage even in a low interest rate environment probably will have negative coverage in a high interest rate environment. So I think it’s building another mine-field a few years out.
Wilbur Ross

[In December 2012] There’s always deals. There’s always somebody makes a mistake somewhere.
Wilbur Ross

[In December 2012 on what he dreams for in distressed deals.] What you dream of in distress is a good company that’s just overleveraged so all you have to do is right-size the balance sheet and life is happy again.
Wilbur Ross

[In December 2012 in many distressed business deals.] Now you have to fix the business as well as fix the balance sheet. That makes it more complicated to do, more risky to do, and takes somewhat longer in general to do. So the current batch of workout situations for the most part is a little heavier lift than had been true at some other points in time.
Wilbur Ross

[In December 2012] It’s very hard to buy paper from someone who will then crystallise a much bigger loss than what he’s already recorded by virtue of making a sale.
Wilbur Ross

[In December 2012] That means more layers. More layers means more committees. More committees means more lawyers. More lawyers means more litigation.
Wilbur Ross

[In December 2012] Bad banks are by the nature set-up to divest assets.
Wilbur Ross



[In December 2012] Ireland is a high-tech economy…
Wilbur Ross

[In December 2012 on investing in Ireland in Europe and believing it will be the first one in Europe to bounce back.] Ireland will be the first one to come back.
Wilbur Ross

We are more like the phoenix – the bird that re-creates itself from its own ashes.
Wilbur Ross

Business was a lot like tennis – the key to success often is remaining steady and patient and waiting to take advantage of your opponent’s mistakes. If you keep hitting the ball deep and run your opponent back and forth, he will eventually hit a short shot that you can put away. Don’t try to put away every shot, but wait for the opening and the shot you can hit for a winner.
Wilbur Ross

Most of the mistakes people make in business come from ill-timed, rash behavior.
Wilbur Ross

Business decisions often tend to be very emotional, and to be successful you have to be able to keep your emotions separate from the decision-making process.
Wilbur Ross

The rule of thumb I have always tried to follow is that if something gets me upset, I try not to react to it on the spot. I sleep on it, and then make my decision when I am calm.
Wilbur Ross

I… encourage young professionals to find a particular area of business they enjoy and become an expert at it. People who can develop specialized skills have a great chance to be successful.
Wilbur Ross

In every corporate restructuring, I say over and over and over, ‘more, more, more’ until the proponents of ‘less’ give up.
Wilbur Ross

‘More’ is the issue between management and labor, landlord and tenant, parent and child, husband and wife, politician and taxpayer, addict and pusher. Americans who say ‘More’ more than one hundred times per day are much more likely to become richer and have better sex lives than those who do not.
Wilbur Ross



‘More’ is better, so go for it. I have.
Wilbur Ross


Bonus

[On Wilbur Ross in March 2006] He consolidates, he reduces, he whittles the business down to something that can turn a profit and can be packaged and marketed.
Judith Altman



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