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"I don’t think it is a Great Depression, I don’t think it’s Armageddon but I think that it’s purely wishful thinking for people to be forecasting a sharp V-shaped recovery"
Wilbur Ross |
DUBBED "THE KING of bankruptcy" by Fortune magazine, Wilbur Ross built his reputation at Rothschild in the 1970s and 1980s as a bankruptcy adviser to creditors and shareholders in troubled companies such as TWA, Donald Trump’s Taj Mahal and Drexel Burnham Lambert.
In 1997 he established a private equity fund at Rothschild. Shunning the dotcom bubble that was inexorably being inflated at the time, he managed to produce triple-digit annual average returns from old-economy-type companies such as Plains All-America Pipeline and AES Thames.
In 2000, after 24 years at Rothschild, he bought out the fund and set up WL Ross & Co, with $440 million in investor money aimed at...
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