BOSTON ( TheStreet) -- Billionaire investor Wilbur Ross said he bought assets last week as global markets plunged on Standard & Poor's downgrade of U.S. debt. As it turns out, Ross was purchasing stocks before the plunge, initiating positions in companies such as Buffalo Wild Wings ( BWLD) during the second quarter.Ross, who founded WL Ross & Co., is known for his expertise in distressed securities. Last week, Ross, 83, told Bloomberg that buying stocks during the sharp decline on Monday "will prove to be a uniquely rewarding experience" in a few years' time. During the second quarter, Ross saw opportunity as well, picking up new positions and increasing stakes in other companies before the market plunge.
|Wilbur Ross of WL Ross|