Wilbur Ross Quotes

#1. We're in the business not so much of being contrarians deliberately, but rather we like to take perceived risk instead of actual risk. And what I mean by that is that you get paid for taking a risk that people think is risky, you particularly don't get paid for taking actual risk.

Wilbur Ross

#2. You cannot just keep borrowing more and more and keep spending more and more without eventually having a day of reckoning.

Wilbur Ross

#3. Shipping has a great oversupply of vessels that came from over-ordering a few years back. We think 2014 may be when it turns around.

Wilbur Ross

#4. There is a future for the auto parts industry, but it needs a consolidation and a rationalization of geography in that most suppliers have facilities in the U.S., although most of their customers are overseas.

Wilbur Ross

#5. My wife Hillary sometimes accuses me of trying to reinvent the 19th century. In some ways she's right because I like things that I can understand and that aren't too complicated.

Wilbur Ross

#6. The fundamentals are the U.S. is going to end up being a net exporter of natural gas. That's going to be wonderful to help our balance of payments, reduce our dependence on a lot of countries that aren't so crazy about us, and change many, many parts of what goes on here.

Wilbur Ross

#7. Shale gas, if left to flourish, could create several hundred thousand more jobs.

Wilbur Ross

#8. Ships are a strange kind of commodity because they're very lumpy, very big individual units, but they're commodities.

Wilbur Ross

#9. Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things.

Wilbur Ross

#10. I see myself as a private-equity investor that helps rebuild companies. Restructuring is a cottage industry in that there aren't that many serious practitioners.

Wilbur Ross

#11. What is worrisome about that is the U.S. standard of living. I think it is very difficult to envision our standard of living being preserved if we are in an economy where all people do is flip hamburgers, wait on people in stores, and sue each other. It's not much of a basis for an economy.

Wilbur Ross

#12. If you want to do something to destroy consumer spending, just eat away at the middle class because the other problem we have is the structural problem of middle class America.

Wilbur Ross

#13. There is no evidence that more regulation makes things better. The most highly regulated industry in America is commercial banking, and that didn't save those institutions from making terrible decisions.

Wilbur Ross

#14. I don't think there's anything inherently wrong with a bank being big. In fact, there are some good arguments about universality of geography that in theory, if you have all your eggs in one little community, and some big employer goes out, that could be your downfall.

Wilbur Ross

#15. Between the Community Redevelopment Act, requiring banks to make what I would call very weak loans, and specific quotas that the Congress imposed on Fannie Mae and Freddie Mac, that created the market demand that really led to the subprime phenomenon.

Wilbur Ross

#16. Each weekend I play at least one and maybe two sets of tennis a day. My doubles team was in the finals recently at my tennis club in Palm Beach and lost a tiebreaker after a three-hour match. I must confess, by the end of the three hours, I was relieved it was over.

Wilbur Ross

#17. I think it's natural for any manager to want to grow his business. The question is at what rate, and in what direction, and in what format?

Wilbur Ross

#18. Generally speaking, companies get into bankruptcy as a kind of meritocracy. Somebody made some sort of big mistake, to get into bankruptcy, and very often, a part of the mistake is too much leverage.

Wilbur Ross