From Insider Monkey:
Wilbur Ross’s Invesco Private Capital (WL Ross & Co) recently reported its insider purchases in Exco Resources Inc. (XCO). The firm bought 363 thousand shares in XCO at between $9.66 and $9.84 on December 21st. WL Ross & Co revealed 27.63 million shares in the stock at the end of September, and 26.78 million shares or 12.5% activist stake on August 31st. XCO is now trading at $9.81. The stock has lost about 49% so far in 2011....MOREWe haven't had much on Mr. Ross in recent months but he is definitely worth paying attention to.
His former niche, financially distressed companies, is to my mind, one of the most dangerous fields in finance, fraught with dangers that can wipe out an investment unless you have examined every detail and anticipated every contingency. I once said that W.L.R. was probably smarter than Warren Buffett.
Some of our prior posts:
Follow-up: The bond insurers, a $200bn problem and Wilbur Ross (ABK; MBI; BRK.A)
...the hot new boy-band:
Wilbur & The Monolines.
July 8, 2008 (peak o'the bubble was July 11, $147.27)
Wilbur Ross: Run-Up in Oil Prices Is a Bubble
July 16, 2008
Seeing Oil Bubble, a Contrarian Bets on an Indian Airline
Sept. 25, 2008
Bailout will encourage stupid acts by big firms, says Wilbur Ross (AGO)
Aug. 4, 2010
Charlie Rose: Face to face with Wilbur Ross
Dec. 10, 2010
Wilbur Ross Thinks Celtic Tiger Still Has Fangs
Aug. 16, 2011
Wilbur Ross Ross Sees End to Slump in Shipping (FRO; TNK; NAT)