Wilbur Ross, chairman and CEO of WL Ross & Co, says the current euro zone debt crisis is not just about fiscal tightening but about structural reforms, with the big exception being Ireland. He also adds that there is no effective regulation of European banks as compared to the U.S.
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With regard to investing in net-nets, Ben Graham said: "It always seemed, and still seems ridiculously simple to say that if one can acquire a diversified group of common stocks at a price less than the...net current assets alone…the results should be quite satisfactory. They were so in our experience, for more than 30 years."