The Vulture Investors, Revised and Updated
| Author | : | |
| Rating | : | 4.73 (500 Votes) |
| Asin | : | 0471361895 |
| Format Type | : | paperback |
| Number of Pages | : | 416 Pages |
| Publish Date | : | 2013-08-29 |
| Language | : | English |
DESCRIPTION:
Copyright 1992 Reed Business Information, Inc. From Publishers Weekly In a tour de force of punchy business writing, Institutional Investor senior editor Rosenberg dissects a little-known but increasingly common high-stakes financial game: preying on companies in distress. Operating in a $400 billion "debt market," financiers like Paul Kazarian and Marty Whitman snap up an ailing firm's bonds and bank loans at a discount, then participate in the ensuing bankruptcy or other reorganization process, which usually results in their holdings substantially increasing in value. Case histories illuminate the investors' methods, introduce the field's key players and give blow-by-blow accounts of major corporate upheavals at Wheeling-Pittsburgh Steel, Coleco Toys, New Hampshir
Excellent Rick Spell I found this book to be exactly what I hoped for. I like to read business stories. The author's goal was to teach the reader about investing in bankrupt companies and the method used was with detailed narratives of past deals. This was perfect for what I wanted.The book went into great detail about the hierarchy of security claims and how they work in bankruptcy. The examples showed how the investor classes work with and against each other in bankruptcy and the roles the b/k judge and attorneys played. With many different narratives the reader is able to see different outcomes and the extreme risks and rewards involved in this typ. "Not for the faint of heart" according to Frank DeRose. The book covers the practice of investing in the securities of distressed/bankrupt companies. Topics include: investing in distressed debt; the reorganization process under Chapter 11; the contests for control between conflicting classes/interests in the reorganization process.But, the book doesn't cover these topics in mere textbook fashion. Rather, it introduces us to some of the most famous vulture investors of all time and provides exciting narratives of their significant investment successes and failures. The cast of characters is fascinating. One ends up with a very good feel for the type of personality needed to work in thi. A Customer said Excellent Read. This book provides the reader with an excellent introduction into the various strategies and techniques that "special situation" investors apply when seeking to profit from distrssed companies.The author engages the reader in a story book fashion with actual bankruptcy stories, the cast of characters, investment philosophies/strategies and lessons to be learned.The author also sprinkles in bankruptcy laws and procedures for those who are not as conversant in the field.Overall, I highly recommend this book to anyone who is interested in profiting from distressed companies.
Rosenberg not only tells their stories with captivating relish but weighs the overall economic impact of their exploits. "What kinds of investors actually choose to make their living by seeking out troubled companies and becoming mired in the complexities and contentiousness of a bankruptcy or out-of-court workout?" - Hilary Rosenberg (from The Vulture Investors) Welcome to the big-time, big-stress-and big-profit-world of vulture investing. Praise for The Vulture Investors "A lively account of the hardy