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Wilbur Ross Says Financial Markets in 'Treacherous Spot'

August 31, 2012 | About:
Dheeraj Grover

Dheeraj Grover

18 followers
Billionaire Investor Wilbur Ross was on Bloomberg to talk about politics, Romney, the presidential election, the outlook of the global financial markets and current administrations economic policies.

Source: www.bloomberg.com

-- Why Romney is the right man for the economy: First of all he understand the economy. The Obama administration does not have a slightest clue of how the economy works. Secondly, he has the ability to lead and make hard decisions.

-- Lack of clarity from Washington, increased regulations, increasing interference into the private sector, no clarity healthcare cost, no clarity on tax policies. This kind of uncertain environment makes it very difficult to make investment decisions.

-- Bowle Simpson came up with good sensible recommendation to solve the fiscal deficit but no action has been taken.

-- Our economy needs to be turned around, but substituting debt for revenue to meet obligations is not a sensible solution.

-- Future of markets - Markets are in a very treacherous spot due to lots of countries having huge political issues (Europe, U.S.). Economies throughout the world are weakening but doesn't see any depression coming.

Here is the video:

http://bloom.bg/TB1Hhg



About the author:

Dheeraj Grover
I am an individual investor with deep interest in the field of value investing. My ideas and thinking is inspired by highly respected value investors like Ben Graham, Warren Buffett, Walter Schloss, Bill Ruane and Tweedy Browne

Rating: 3.5/5 (18 votes)

Comments

brianbook
Brianbook premium member - 2 years ago
Mr. Ross, you are entitled to your own opinions, but they are outside your circle of competence.

Bob_in_Maryland
Bob_in_Maryland - 2 years ago
Well, then, maybe Wilbur Ross's opinion need to be placed in perspective?

On that, I can agree. But will maintain that "Mr. Market" registered an opinion, yesterday.

Here's how I see it. Equity trading was rather thin during the past week. Picking up in direct

reaction to Ben's remarks. My take is that he wanted to defend the central bank's actions of

the past several years. At the same time, there was a call that future actions be more concerted

with sound fiscal policy from the Federal Government.

Mario Draghi,, echos a similar view.

The idea behind the ideas moved the markets. The upward bump was pronounced in precious

metals. Particularly silver and gold but basic metals went along generally - joining the party.

So what else did the market say? I was personally struck by the stock price decline in FB.

More to my point, however, was the action on Treasury Notes. In fact, credit gave a generally

tepid response.

On this we should agree. If an investor is clueless about market cycles; the sideline is the place

to be.

Where are we with respect to these cycle. I'm fairly confident that the U.S. equity market is around the midpoint of a long-term secular bear market. Are we moving from one stage to the next? I believe so. But you know? I'll trust such remarks from multiple personalities - see them as a aid - and keep going from there.

The beautiful thing is that we get solid confirmation on such assessment. See that in the

performance of our portfolio's.

On one point, I'm certain. There is a place for very, very serious dialog related to fiscal and monetary policy. My suggestion would be to watch the market sectors very closely next week.

Maybe we will get a certain degree of confirmation on yesterday's market action?

Bob

Cowboy77
Cowboy77 - 1 year ago
Outside his circle of competence? Really? You're probably right. Only the"Central Planners" really have any clue as to what's really transpiring. Lol.

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