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Posted AT 3:29 PM EST on 09/04/08

Billionaire investor Wilbur Ross eyes banks

EMILY CHASAN

Reuters

NEW YORK — Billionaire investor Wilbur Ross, who made his fortune making bold investments on distressed industries, said Wednesday that he expects his next bet to be on banks and thrifts. “I believe the next phase of the cycle will be the failure of depositary institutions,” Mr. Ross said, speaking at a Cardozo Law School conference in New York.

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