The Art Of Vulture Investing
|Publisher||John Wiley & Sons|
|Release Date||13 September 2012|
|Category||Business & Economics|
|Rating||4/5 from 21 reviews|
A detailed and compelling look at distressed securitiesinvesting in today’s market In the corporate world, “vulture” investors indistressed securities serve the same cleanup function as vulturesdo in the natural world: they deal with failing companies, digestbad debt, and mop up after bankruptcies. Since this market’sstructural and legal complexities create greater inefficienciesthan in other investment fields, it’s a style of investingthat can make money during both booms and busts. While recenteconomic carnage has made opportunities for vulture investors, moreconvoluted bankruptcies, conflicts of interest, and even governmentintervention have made this arena harder to negotiate. Nobody understands this better than author George Schultze,founder of Schultze Asset Management. During his successful careeras a vulture investor, he’s learned a number of lessons anddeveloped an investment philosophy that has served him well. Now,in The Art of Vulture Investing, Schultze shares his valuableinsights and experiences with you. Engaging and informative, thisreliable guide offers a bird’s-eye into the opportunities andrisks associated with vulture investing. And while it may notalways be pretty, you’ll see exactly why this process isnecessary for our economic ecosystem. Throughout this book, Schultze explains the theory and strategyof vulture investing in clear and lively prose, illustrating eachconcept with examples from his own varied experience that show howthe landscape has changed in recent years. Offers valuable information on distressed securities investingsince the 2007-2009 financial crisis Examines the opportunities and dilemmas for modern vultureinvestors Includes in-depth case studies of high-profile bankruptcies,including those of Chrysler Automotive and Tropicana Casinos andResorts By its very nature, investing in distressed companies can be acomplicated and risky business. But once the dust settles,these investments can yield extraordinary profits. The Art ofVulture Investing puts this discipline in perspective and showsyou how to excel at this difficult, yet rewarding, endeavor.