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Wilbur Ross - I'm Holding Twice as Much Cash as Normal in Case the Fiscal Cliff Creates Opportunity

December 06, 2012 | About:
Wilbur Ross sat down with Bloomberg and shared the following observations and others:

- 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.

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