Wilbur Ross - I'm Holding Twice as Much Cash as Normal in Case the Fiscal Cliff Creates Opportunity
- There will be a fiscal cliff of some sort (there will be tax revenue increases and spending cuts), the question is just how big.
- Capital expenditures take some time to plan, so companies will have already squashed a lot of spending for the first quarter.
- Ross has kept his companies as liquid as possible and has been getting as much financing done prior to year-end.
- He has twice the cash he normally has as he wants dry powder in case the markets get smacked as a result of the fiscal cliff.