"I don't make predictions and declarations. I try to do what works."
Wilbur Ross, in this quote, emphasizes his practical approach towards decision-making, distancing himself from speculative practices that rely on predictions and declarations. Instead, he focuses on implementing strategies that have proven effective, preferring action over rhetoric or prophecy.
"Business school is a place that teaches you how to count the money left on the table."
This quote by Wilbur Ross suggests that business schools focus on teaching students techniques for maximizing profits, but often overlook the importance of identifying and seizing additional opportunities or potential gains – sometimes referred to as "leaving money on the table." In other words, they may equip you with skills to manage your resources effectively, but may not always emphasize the need to expand your vision or think creatively to capture more value. This could lead to a narrow focus and missed chances for greater success in business.
"The art of business deals is just like the art of diplomacy – where it’s about compromise, giving and taking."
This quote by Wilbur Ross emphasizes that effective business negotiation shares similarities with diplomatic negotiations. Both require a balance between compromise, giving and taking, in order to reach mutually beneficial agreements. It implies that success often depends on the ability to understand and accommodate the interests of all parties involved, while also maintaining one's own objectives. This understanding can foster long-term partnerships, cooperation, and overall growth for all involved.
"Success in investment involves making a series of correct decisions about an uncertain future."
Wilbur Ross's quote emphasizes that success in investment is not solely reliant on a single, perfectly accurate prediction about the future. Instead, it requires a consistent and effective process of making well-informed decisions about various uncertainties in the market. The key to success lies in the ability to navigate the inherent unpredictability of the financial world by gathering accurate information, analyzing trends, and making sound judgments based on these factors. In essence, success in investment is a result of a well-crafted decision-making process in an environment where future outcomes remain uncertain.
"Bankruptcy courts are the ultimate truth serum. If you're telling the truth, then you'll emerge from bankruptcy court OK. If not, you won't."
Wilbur Ross' quote suggests that the process of bankruptcy court serves as a means to expose any financial misstatements or dishonesty, as it provides a transparent environment for assessing the truth about a company's debts and assets. If a company has been truthful in its dealings, it can expect to reorganize and emerge from bankruptcy in a favorable position. Conversely, any misrepresentation of financial facts will likely lead to an unfavorable outcome during bankruptcy proceedings.
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
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
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
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