1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
CanadianValue
CanadianValue
Articles (4610) 

Distressed Asset Investor Wilbur Ross Thinks the Shipping Industry Is Within Months of Bottoming

March 28, 2013
Wilbur Ross is a distressed asset investing specialist. He is a vulture investor, and that is meant as a compliment.

It takes stomach to buy what everyone else hates, it takes discipline to sit on cash and wait for distressed situations to emerge and it takes patience to wait for those distressed investments to turn around.

Right now the shipping industry is the distressed area where Ross is focused. He thinks the industry is within months of bottoming out and sees better things for 2014.

The shipping industry got itself into trouble when it built too many vessels prior to the financial crisis when charter rates were at their peak. The turnaround for the industry is going to occur when older vessels are scrapped and supply and demand come more in line.

In the interview below Ross delves into his move into shipping in more detail:

About the author:

CanadianValue
http://valueinvestorcanada.blogspot.com/

Rating: 3.8/5 (5 votes)

Comments

Please leave your comment:


GuruFocus Mobile App


User Generated Screeners


Ismael04+50mill Magic Formula
Ismael044º filter Magic Formula
ks052557Value Stocks3
Tauphipi5/26/16
MariocabReinvestment Moats
Tauphipi5/25/2016
lane1020NCAV-Australia/NZ
LMANLEYBEST II
LMANLEYDeep Value Quality
sphillips60565Small/Mid Cap Banks

Select portfolio(s):

  • Loading...

Why you are interested?

Your selection and notes will be stored in your portfolio.

Login to add portfolio
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
FEEDBACK