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Wilbur Ross Is Bargain Hunting at Sea and Underground

  • Shipping stocks still undervalued compared with vessels
  • Targets are harder to find as markets and economy diverge
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Wilbur Ross on Distressed Investing Opportunities

Billionaire investor Wilbur Ross said he’s scouting for distressed companies in marine shipping, machinery and mining, but opportunities are becoming scarce as soaring financial markets disconnect from actual economic growth.

Shares of seaborne shipping companies are trading at big discounts to the already-depressed market value of their vessels, said Ross, chairman of WL Ross & Co., in an interview Thursday on Bloomberg TV’s “Bloomberg ‹GO›.” He also favors manufacturers of machinery and tractors amid weak capital spending.