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
Articles (4624) 

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:


Rating: 3.8/5 (5 votes)


Please leave your comment:

More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.

User Generated Screeners

Bogdan BednarskiCSROE2008,ROIC 15-75,ROIC 5Y >
bdietzBook Growth Rate
pbarker46Median PS
Bogdan Bednarski4Star, ROIC Up Tr, ROIC > WACC
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)