Ask entrepreneur George Rohr for the key to his success, and he very well might give a one-word answer -- risk.
The concept of risk came up often as Rohr, founder and president of the New Century Holdings investment firm, addressed a group of about 50 students yesterday in Steinberg-Dietrich Hall.
Rohr founded New Century Holdings in 1993 as a firm that focused its investments mostly in Eastern Europe, especially in the former Soviet states. The firm -- which has its headquarters in New York and has eight offices across Russia -- currently manages over $1.3 billion in investments.
Touching on topics such as Russia's volatile market and the future of the economy under President Vladimir Putin, Rohr spoke about New Century Holdings' role in the currently tenuous Russian economic atmosphere.
It's "a situation going from worse to bad," he said.
Rohr also discussed the reasons behind Russia's reputation as an underdeveloped nation.
"It's underdeveloped because it's been cut off from the rest of the world for three generations," he said.
Rohr said he was aware of the dangers of making financial investments in Russia from the beginning. When asked what he thought the largest risks of his situation were, he replied, "Had you asked me this in 1992, I would have said, 'death.'"
Nonetheless, Rohr left listeners with a generally positive feeling about investing in Russia.
"As an investor myself, it kind of excites me," Wharton senior Adam Tsekhman said. He added that it "looks like a wonderful opportunity."
Rohr spoke about one unlikely opportunity his firm encountered -- the purchase of a Russian breakfast cereal plant in a country where cereal was unpopular. After reaching success with the creation of the logo "Sergei the Lion," however, he was able to sell the plant for a profit.
Representatives from the Jewish Heritage Program, one of the sponsors of the event, said they hoped to show students a "mentor" in Rohr.
Campus liaison for JHP Rachel Baum explained that the group was looking to provide "role models in a Jewish way and in a business way."
Students in attendance were generally pleased with Rohr's speech.
"I love the fact that it was a mix of business and comments on cultural, historical and religious elements of the environment in Russia," second-year Wharton MBA student Amanda Low said.
And Sasha Kelberg, another Wharton MBA student agreed, adding that he was "very impressed by his strategy -- it's a risky strategy."
Yesterday's speech was also sponsored by the Steinhardt Jewish Heritage Program, Wharton Vantage Traders, Wharton Undergraduate Entrepreneurial Group and the University's Slavic Languages Department.
