GuruFocus would like to announce the addition of a new Guru in our List of Gurus: Wilbur Ross.
Wilbur L. Ross, Jr. is the founder of private equity firm WL Ross & Co. He is known for distressed investing and restructuring failed companies in industries such as steel, coal, telecommunications, foreign investment and textiles. He specializes in leveraged buyouts. In 2005, Forbes magazine listed Ross as one of the world's billionaires for the first time. He was ranked #346 the Forbes list of the 400 richest Americans, with an estimated net worth of $1.7B. He earned a B.A. from Yale College , his M.B.A. at Harvard Business School .
According to Bloomberg, Mr. Ross has successfully seen the severity of this financial crisis since its very beginning. He is now predicting more banking failures. He thinks the new Treasury TALF program is constructive, and his firm will probably participate, in which .S. Federal Reserve seeks to channel $1 trillion into securities backed by consumer debt.
Mr. Ross’s equity portfolio is very concentrated, with most of asset in top two holdings. As expected, the portfolio is volatile. The performance of this portfolio in 2009 is shown in the chart below:
Wilbur Ross buys Valero Energy Corp., sells SPDR S&P International Financial Sector, KBW Regional Banking ETF during the 3-months ended 12/31/2008, according to the most recent filings of his investment company, . Wilbur Ross owns 4 stocks with a total value of $211 million. These are the details of the buys and sells.
New Purchases: VLO,
Sold Out: IPF, KRE,
For the details of Wilbur Ross's stock buys and sells, go to the Link Here
New Purchase: Valero Energy Corp. (VLO, Financial)
Wilbur Ross initiated holdings in Valero Energy Corp.. His purchase prices were between $15.73 and $22.58, with an estimated average price of $18.7. The impact to his portfolio due to this purchase was 0.46%. His holdings were 45,000 shares as of 12/31/2008.
Valero Energy Corporation owns and operates refineries in the United States and Canada with a combined throughput capacity of approximately two million BPD making it one of the nation's top refiners of petroleum products. Valero is also one of the nation's leading retail operators with retail outlets in the United States and Canada under various brand names including Diamond Shamrock Ultramar Valero Beacon and Total. Valero Energy Corp. has a market cap of $9.58 billion; its shares were traded at around $18.55 with a P/E ratio of 3.7 and P/S ratio of 0.1. The dividend yield of Valero Energy Corp. stocks is 3.2%. Valero Energy Corp. had an annual average earning growth of 35.9% over the past 10 years. GuruFocus rated Valero Energy Corp. the business predictability rank of 4.5-star.
Sold Out: SPDR S&P International Financial Sector (IPF, Financial)
Wilbur Ross sold out his holdings in SPDR S&P International Financial Sector. His sale prices were between $12.46 and $17.64, with an estimated average price of $14.8. The impact to his portfolio due to this sale was less than 0.01%.
SPDR S&P International Financial Sector has a market cap of $6.8 million; its shares were traded at around $13.3599 .
Sold Out: KBW Regional Banking ETF (KRE, Financial)
Wilbur Ross sold out his holdings in KBW Regional Banking ETF. His sale prices were between $25.27 and $32.6, with an estimated average price of $28.5. The impact to his portfolio due to this sale was less than 0.01%.
KBW Regional Banking ETF has a market cap of $244.2 million; its shares were traded at around $21.04 . The dividend yield of KBW Regional Banking ETF stocks is 1.2%.
Wilbur L. Ross, Jr. is the founder of private equity firm WL Ross & Co. He is known for distressed investing and restructuring failed companies in industries such as steel, coal, telecommunications, foreign investment and textiles. He specializes in leveraged buyouts. In 2005, Forbes magazine listed Ross as one of the world's billionaires for the first time. He was ranked #346 the Forbes list of the 400 richest Americans, with an estimated net worth of $1.7B. He earned a B.A. from Yale College , his M.B.A. at Harvard Business School .
According to Bloomberg, Mr. Ross has successfully seen the severity of this financial crisis since its very beginning. He is now predicting more banking failures. He thinks the new Treasury TALF program is constructive, and his firm will probably participate, in which .S. Federal Reserve seeks to channel $1 trillion into securities backed by consumer debt.
Mr. Ross’s equity portfolio is very concentrated, with most of asset in top two holdings. As expected, the portfolio is volatile. The performance of this portfolio in 2009 is shown in the chart below:
Wilbur Ross buys Valero Energy Corp., sells SPDR S&P International Financial Sector, KBW Regional Banking ETF during the 3-months ended 12/31/2008, according to the most recent filings of his investment company, . Wilbur Ross owns 4 stocks with a total value of $211 million. These are the details of the buys and sells.
New Purchases: VLO,
Sold Out: IPF, KRE,
For the details of Wilbur Ross's stock buys and sells, go to the Link Here
New Purchase: Valero Energy Corp. (VLO, Financial)
Wilbur Ross initiated holdings in Valero Energy Corp.. His purchase prices were between $15.73 and $22.58, with an estimated average price of $18.7. The impact to his portfolio due to this purchase was 0.46%. His holdings were 45,000 shares as of 12/31/2008.
Valero Energy Corporation owns and operates refineries in the United States and Canada with a combined throughput capacity of approximately two million BPD making it one of the nation's top refiners of petroleum products. Valero is also one of the nation's leading retail operators with retail outlets in the United States and Canada under various brand names including Diamond Shamrock Ultramar Valero Beacon and Total. Valero Energy Corp. has a market cap of $9.58 billion; its shares were traded at around $18.55 with a P/E ratio of 3.7 and P/S ratio of 0.1. The dividend yield of Valero Energy Corp. stocks is 3.2%. Valero Energy Corp. had an annual average earning growth of 35.9% over the past 10 years. GuruFocus rated Valero Energy Corp. the business predictability rank of 4.5-star.
Sold Out: SPDR S&P International Financial Sector (IPF, Financial)
Wilbur Ross sold out his holdings in SPDR S&P International Financial Sector. His sale prices were between $12.46 and $17.64, with an estimated average price of $14.8. The impact to his portfolio due to this sale was less than 0.01%.
SPDR S&P International Financial Sector has a market cap of $6.8 million; its shares were traded at around $13.3599 .
Sold Out: KBW Regional Banking ETF (KRE, Financial)
Wilbur Ross sold out his holdings in KBW Regional Banking ETF. His sale prices were between $25.27 and $32.6, with an estimated average price of $28.5. The impact to his portfolio due to this sale was less than 0.01%.
KBW Regional Banking ETF has a market cap of $244.2 million; its shares were traded at around $21.04 . The dividend yield of KBW Regional Banking ETF stocks is 1.2%.
