With control of Congress unchanged, billionaire investor Wilbur Ross expects President Barack Obama to start thinking about his legacy during his second term by reaching across the aisle to build consensus.
"The first term for a president is mostly about politics," the investor told CNBC's "Squawk Box" on Wednesday. "I think the second term, logically, should be about the history books."
Ross said that the real question after Tuesday's election will be how Obama begins working to forge greater compromise between his positions and those of the Republican leadership in Congress.
"I'm optimistic that he will be looking toward the history books," Ross said.
Ross added that there's no reason for the president and the Congress not to interact constructively on the nation's most pressing issues, even during the so-called lame duck period.