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WILBUR L ROSS – 1937 TO 2000
Wilbur LRoss (Ross)was born onNovember 28th 1937, inWeehawken,NewJersey.His father
was a well-to-do lawyer, and his mother was a schoolteacher. He studied at Xavier High
School in Manhattan. In his schooldays, he was an athlete and also the captain of the rifle
team,which set a national record.Hewent toYaleUniversity to do hisBAinEnglishLiterature.
There he worked on a literarymagazine and the radio station...
ROSS’S STRATEGIES – 2000 TO 2003
With decades of Wall Street experience, he learnt that the bankruptcy phenomenon was an
industrywave, rather than an isolated incident. Everymorning at 8 a.m., he and his teamof 20
professionals, would sort through a list of 50 to 75 companies that could collapse over the
next year, andwould seekChapter 7 (liquidation)12 or Chapter 11(reorganisation) protection.
Hewould look for industries undergoing a radical change like, telecommunications, steel and
health care...
THE FUTURE
In his career as an investment banker, Ross provided support to Korea during the Asian
financial crisis. In 1999, PresidentKimDae Jung, duly recognised himwith amedal, but later
differences developed between them over the Hyundai deal. This could prove to be a
challenge in managing funds invested in Korea. However, since the investment of his
funds, Ross hadmanaged to produce returns ranging from8.11%to 181.07%(Exhibit VI).
Though hedge funds including vulture funds are not correlated to the stock market, Ross’s
strategy of bringing companies back from bankruptcy and tapping the stock market could
be correlated to the same...
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