Quotes by Wilbur Ross - Page 2

If trade deficits are good, why is China so pleased that they run a huge trade surplus? It's perfectly obvious that if China hadn't been such a huge net-exporter, it never would have grown at the rate that it did.
Wilbur Ross / Investor
Obvious
Rate
Surplus
Good Never Why
Deficits
Perfectly
Pleased
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The problem with regional trade agreements is you get picked apart by the first country. Then you negotiate with the second country. You get picked apart. And you go with the third one. You get picked apart again.
Wilbur Ross / Investor
Trade Agreements
Agreements
Negotiate
Picked
Regional
The Problem With
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We'll be aggressive on trade because we know that deals that have been made historically have resulted in the great loss of manufacturing jobs, a great amount of closed manufacturing businesses. We don't want that to continue.
Wilbur Ross / Investor
Aggressive
Deals
Loss
Manufacturing
Closed
Historically
Manufacturing Jobs
Resulted
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If you add up all the promises any politician makes, the math doesn't work. Hillary Clinton's math doesn't work; Donald's math probably doesn't work. I think you have to listen to their campaign pitches more as symbolic, more as metaphors.
Wilbur Ross / Investor
Add
Clinton
Math
Symbolic
Campaign
Donald
Hillary
Metaphors
Pitches
Promises
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Everybody talks about tariffs as the first thing. Tariffs are the last thing. Tariffs are part of the negotiation. The real trick is going to be increase American exports. Get rid of some of the tariff and non-tariff barriers to American exports.
Wilbur Ross / Investor
Barriers
Negotiation
Exports
First Thing
Trick
Rid
Talks
Tariff
The First Thing
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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 / Investor
Community
Demand
Phenomenon
Quota
Weak
Banks
Imposed
Led
Loans
Requiring
Specific
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Mexico has 44 treaties with other countries that make it very advantageous to do international shipping from Mexico rather than from the United States. Believe it or not, Mexico has better treaties with the rest of the world than the United States does.
Wilbur Ross / Investor
Mexico
Other Countries
Shipping
Treaties
World Believe Better
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One of the problems with industries that have been in relatively long-term declines is that, very often, the managements in those industries develop a kind of loser mentality. And when you ask them what's wrong with the business, they'll point to extraneous forces.
Wilbur Ross / Investor
Long Term
Mentality
Industries
One Of The Problems
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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 / Investor
Beach
Finals
Hours
Relieved
Team
Tennis
Weekend
At Least One
Palm
Club
Confess
Doubles
Match
Recently
Sets
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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 / Investor
Downfall
Eggs
Geography
Theory
Universality
Bank
Employer
Inherently
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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 / Investor
Balance
Dependence
Fundamentals
Gas
Natural
Natural Gas
Wonderful
Countries
Exporter
Net
Parts
Payments
Reduce
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We think, over the long term, the real key to value of a bank is does it have true deposits from true long-term customers? People who actually know the bank, live in the neighborhood, work there, maybe have a mortgage there, credit card... That, to us, is the key to a bank.
Wilbur Ross / Investor
Credit
Credit Card
Long Term
Mortgage
Neighborhood
Bank
Card
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The reality is if something were to happen that cost China jobs - like, if they upwardly revalued the currency a lot - those jobs aren't going to come back to the U.S. They would go to Vietnam; they would go to Thailand. They would go to whatever country was the lowest cost.
Wilbur Ross / Investor
Currency
Lowest
Thailand
Vietnam
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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 / Investor
Mean
People
Thinking
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To me, the most terrifying form of warfare would be if there was some simultaneous cyber attack on our grid, on the banking system, and on our transportation system. That would be quite a devastating thing, and yet in theory, absent some real protective measures, that could happen.
Wilbur Ross / Investor
Absent
Banking
Banking System
Cyber
Protective
Simultaneous
Transportation
Warfare
Attack
Devastating
Grid
Measures
Terrifying
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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 / Investor
People
Thinking
Waiting
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The one term I don't like to be called is a 'vulture.' Because to me, a vulture is a kind of asset-stripper that eats dead flesh off the bones of a dead creature. Our bird should be the phoenix, the bird that reinvents itself, recreates itself from its ashes. And that's much closer to what it is that we really do.
Wilbur Ross / Investor
Ashes
Bird
Bones
Flesh
Phoenix
Term
Vulture
Closer
Creature
Eats
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I'm a very big proponent of cloud. We've used it a lot in private sector, and as far as we can tell, it is not only more efficient, it's probably also more secure for lots of very complicated technical reasons. I think it's a very important thing for government to do, and also to have systems that talk to each other.
Wilbur Ross / Investor
Efficient
Private Sector
Big Proponent
Cloud
Proponent
Sector
Systems
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I think there's a big difference between the impact of trade agreements on corporate America and the impact on Mr. and Mrs. America. Corporate America has adjusted to them by investing lots of capital offshore... What we're doing is we're exporting jobs and importing products instead of exporting products and keeping jobs.
Wilbur Ross / Investor
Corporate
Corporate America
Exporting
Investing
Offshore
Trade Agreements
Adjusted
Agreements
Big Difference
Mr
Capital
Mrs
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The typical big Japanese company has somewhere between a third and 40 percent of its revenues coming from developing countries, and about a third of Japan's exports are also to the emerging countries, so in a strange way, Japan, which has very little internal growth, its big companies are a good way to play the emerging markets.
Wilbur Ross / Investor
Big Companies
Developing
Developing Countries
Emerging
Good Way
Japan
Typical
Exports
Internal
Revenues
Strange Way
Third
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I think at the end of the day, the real sick man of Europe is liable to turn out to be France, not Greece, not Portugal, not Spain, not Italy. The reason is France is very uncompetitive to begin with on a global scale, and the measures that Hollande has been putting in have been very, very negative from the point of view of economic growth.
Wilbur Ross / Investor
Economic Growth
France
Greece
Liable
Negative
Point Of View
Portugal
Sick
Sick Man
Spain
Scale
End Of The Day
Italy
Measures
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Wilbur Ross Quotes - Page 2

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