The career of Guru
, the global restructure expert, is vividly painted with company
numerous to mention. Indeed, this art lover, whose art
collection is valued at around $150 million, has a rare gift for
transforming failing companies that transcends ordinary business
and taps into the creative realm. Like the artists that he loves -
he owns 25 paintings by Magritte - Guru Ross has vision. He sees
not only what is but also what could be. Restructuring is his
medium and it pays well. According to Forbes, this self-made
billionaire has a net worth of $2.6 billion as of Sept. 2013.
Beginning in 1976,
led the worldwide bankruptcy advisory practice at Rothschild Inc.
for more than 20 years. He has restructured more than $200 billion
in liabilities worldwide.
, WL Ross & Co. LLC is a private equity firm and an
international turnaround group, founded by
. A graduate of Yale and Harvard, Wilbur L. Ross, Jr. has a global
reputation for restructuring distressed companies and winning big.
Investing in failed companies and leveraged buyouts, he typically
deals in coal, steel, telecommunications, foreign investment and
textiles. Invesco was founded in 2000, by New Jersey-born Wilbur
Ross, with $440 million in investor commitments. Invesco is now one
of the world's largest and most diversified independent investment
management firms, with a singular focus on investment
WL Ross & Co. LLC invests in and restructures distressed
companies with the objective of transforming them into world-class
enterprises. The company has over $7 billion in assets under
management with investments across North America, South America,
Europe, and Asia.
This month, Invesco Ltd. (
) reported that foreign exchange increased its assets under
management by $1.1 billion. Invesco's preliminary average total AUM
for the quarter (through November 30) was reported at $757.2
billion. The preliminary month-end AUM of $767.3 billion, reflected
an increase of 0.4%, month-over-month, according to the company
The Invesco portfolio currently lists 10 stocks, none of them
new, and a total value of $942 million with a quarter-over-quarter
turnover of 0%.
The stocks bought by Wilbur Ross averaged a 12-month return of
As of the third quarter of 2013, the Invesco portfolio is
weighted with top sectors: financial services at 72.3%, energy at
22.5% and technology at 4.6.
Here's a look at the three lowest P/E stocks in the Invesco
portfolio, as of the third quarter of 2013.
Cascade Bancorp (
) P/E: 4.80
Current Shares: 11,468,750
Down 3% over 12 months, Cascade Bancorp has a market cap of
$253.6 million; its shares were traded at around $5.22 with and P/B
ratio of 1.30. The company does not pay a dividend.
Formed in 1990, Cascade Bancorp is a bank holding company that
conducts business activities through its wholly-owned subsidiary,
Bank of the Cascades. The bank operates more than 30 branches
serving communities in Central, Southwest and Northwest Oregon, as
well as in the greater Boise, Idaho area.
GuruFocus currently ranks CACB with one star out of five stars
for business predictability.
As of Sept. 30, 2013, Wilbur Ross held 11,468,750 shares at an
average price of $6.16 per share, taking a loss of 15.3%.
In the first quarter of 2011, he made a new buy of 11,468,750
shares at an average price of $8.84 per share, taking a loss of
Assured Guaranty Ltd. (
) P/E: 7.70
Current Shares: 14,842,488
Up 57% over 12 months, Assured Guaranty Ltd. has a market cap of
$4 billion; its shares were traded at around $22.15 with and P/B
ratio of 0.80. The dividend yield is 1.80%.
A Bermuda-based holding company incorporated in 2003, Assured
Guaranty Ltd., through its subsidiaries, provides credit protection
products to the U.S and international public finance,
infrastructure and structured finance markets. The company applies
its credit underwriting judgment, risk management skills and
capital markets experience to offer insurance that protects holders
of debt instruments and other monetary obligations from defaults in
scheduled payments, including scheduled interest and principal
The company is not rated for business predictability.
As of Sept. 30, 2013, Wilbur Ross held 14,842,488 shares at an
average price of $21.15 per share, for a gain of 5.1%.
Over six quarters, Wilbur Ross has averaged a gain of 17% buying
18,320,870 shares at an average price of $18.93 per share. Selling,
he gained 2% on 4,992,882 shares at an average price of $21.79 per
BankUnited Inc. (
) P/E: 14.80
Current Shares: 8,189,631
Up 39% over 12 months, BankUnited Inc. has a market cap of $3.22
billion; its shares were traded at around $31.82 with and P/B ratio
of 1.70. The dividend yield is 2.60%.
BankUnited Inc. is a savings and loan holding company with two
wholly-owned subsidiaries in Florida: BankUnited, an independent
depository institution, and BankUnited Investment Services Inc., an
insurance agency that provides comprehensive wealth management
products and financial planning services.
The company is not currently rated for business
As of Sept. 30, 2013, Wilbur Ross held 8,189,631 shares at an
average price of $29.74 per share, for a gain of 6.1%.
Over three quarters, Wilbur Ross has averaged a gain of 10%
buying 13,721,131 shares at an average price of $28.58 per share.
Selling, he gained 2o% on 5,531,500 shares at an average price of
$26.32 per share.
Here is the complete portfolio of Wilbur Ross.
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