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Dheeraj Grover
Dheeraj Grover
Articles (493) 

Billionaire Investor Wilbur Ross Talks Fiscal Cliff, Investment Strategy with Betty Liu

December 13, 2012 | About:

Well-known investor and billionaire Wilbur Ross discusses the fiscal cliff and what will be its impact on investment strategy, with Bloomberg's Betty Liu.

-- He thinks rather then talking about taxes on 2% rich, discussions should be around the cuts in entitlements and other spending which is getting everything out of control.

-- Congress is not talking about actual cuts but reduction in the rate of spending, and that will not be enough.

-- Cuts in spending will be bad for the economy.

-- Spending is mainly driven by defense, Social Security and Medicare programs.

-- Gradual increase in age over time and that means testing will be one of the easier ways to control entitlement spending.

-- How he is preparing given the coming up tax increases: Yes, he has sold some things and made some charitable contributions before the tax increases coming up next week.

Credit and source: www.bloomberg.com, Bloomberg

Here is the video:



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: 4.0/5 (2 votes)

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