Santangel's Review

Commentary

Wilbur Ross’ Latest Contrarian Play

Wilbur Ross was on CNBC earlier this week, where he discussed his latest contrarian play: Japan. Among other arguments, Ross thinks Japan is a play on emerging markets, as he believes Japanese companies will use their excess cash to make acquisitions there, and already sell 72 percent of their exports to those markets. He also makes the point that the Japanese market as a whole trades at one time book value, which means the market is giving it no credit for goodwill and going concern value.