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In the video below Ross discusses the very successful investment he made in the Bank of Ireland (IRE) at a point of maximum distress. He refers to it as his best recent investment.
Billionaire Wilbur Ross primarily invests in failed companies and leveraged buyouts. His business deals typically involve industries such as coal, steel, telecommunications, foreign investment and textiles.
Wilbur Ross is a distressed asset investing specialist. He is a vulture investor, and that is meant as a compliment.
Wilbur Ross Jr., CEO and chairman of WL Ross & Co. and connoisseur of verge-of-death investment opportunities, has been drawn recently to the carnage in Europe. His first foray, into Bank of Ireland, has thus far been profitable. A purchase of a shell company, NBNK Investments Plc (NBNK), suggests he may hope for more of the same around the fragile European financial sector.