|New Threads Only:|
|New Threads & Replies:|
Forum List » Guru News and Commentaries|
Guru News, Stock picks and commentaries
Wilbur Ross Discusses Shipping, Real Estate and Unconventional Energy
Posted by: CanadianValue (IP Logged)
Date: December 6, 2012 04:19PM
Some of the more interesting comments from Wilbur Ross:
- Discusses his acquisitions of Florida real estate in 2010 from a failed bank and a hotel that was a failed construction project, Ross is very happy with how the Florida market has turned and these investments are working well.
- 20% of all condos in Florida are being bought by Brazilian nationals.
- He has recently been buying some real estate in Little Rock, Ark., and Minneapolis, but it is getting very hard to find deep value.
- Ross thinks the shipping industry is near a bottom.
- What depressed the industry was the previous boom in the industry in 2000 when shipping rates were high banks provided enormous amounts of funding to build new capacity, now that capacity is coming on when rates aren’t high.
- Ross also has interested in shale gas through Exco (XCO). what excites Ross about shale gas is the sheer quantity of it as it can supply the U.S. for decades and that it is much cleaner than the coal alternative.
- Thinks natural gas will supplant coal as the primary source of power.
Guru Discussed: Wilbur Ross: Current Portfolio, Stock Picks
Stocks Discussed: XCO,
Disclaimers: GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.