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Distress Investing Audiobook

Distress Investing: Principles and Technique

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Publisher's Summary

Financial innovation, new laws and regulations, and the financial meltdown of 2007-2008 are just a few of the forces that have shaped, and continue to shape, today's distress investment environment. Combine this with the fact that the discipline of distress investing doesn't always follow what conventional wisdom says, and you can see why it is one of the most challenging areas in finance.

Nobody understands this better than Martin Whitman - the legendary founder of Third Avenue Management LLC and a pioneer in the field of distressed markets - and leading academic Dr. Fernando Diz of Syracuse University. That's why they decided to write Distress Investing. As an outgrowth of annual distress and value investing seminars the two have taught together at Syracuse University's Martin J. Whitman School of Management, this reliable resource will help you gain a better understanding of the essential principles and techniques associated with distress investing and show you how to effectively apply them in the real world.

Divided into four comprehensive parts - the General Landscape of Distress Investing, Restructuring Troubled Issuers, the Investment Process, and Cases and Implications for Public Policy - this book comprehensively covers the practice of buy-and-hold investing in distressed credits, whether it be performing loans or the reinstated issues of a reorganized issuer.

From the recent changes to U.S. bankruptcy code and creditor rights to cash bailouts, you'll quickly learn how to analyze distressed situations such as pricing issues, arbitrage opportunities, tax disadvantages, and the reorganization of funding plans. Along the way, case studies of both large and small distress investing deals - from Kmart to Home Products International - will give you a better perspective of the business.

©2009 Martin J. Whitman and Fernando Diz (P)2012 Audible, Inc.

What Members Say

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Performance
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  •  
    Phil O. San Diego, CA, United States 07-15-17
    Phil O. San Diego, CA, United States 07-15-17 Member Since 2011
    HELPFUL VOTES
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    "Chock full of insights, but not for beginners"

    This book has a lot of info in every sentence. It is an overview of the scene, not a "buy this particular investment" type of thing. The scene it describes is too complex and shifting for that. Of course, by definition: if getting rich in a field like this was easy, the field itself would shift until it was harder. Hundred dollar bills aren't just laying around, right?
    And behind that: it is possible in recent times to find fairly low-cost, retail-level investments that are something of a proxy for these big-shot deals. There are various exotic types of ETFs, options and so on, with which pretty complex bets can be placed, and these can be bought by anyone. But a person who struggles to understand what is discussed here should probably stay miles away from such things. As the saying goes, it's easy to make a small fortune in such things -- just start with a large fortune!
    But even if a person is here merely to become better informed, this is not the first place to start. One should have a reasonable understanding of investment concepts and terminology generally, corporate finance and the various financial instruments within that, to start. After that, I listened to an audio from here, "The Art of Vulture Investing," that helped to prep me for this level. But the view is fantastic from here!
    This is a few years old, so some of the stories could benefit from an update, but the information is very stimulating, useful and valuable for me, subject to the above caveats.

    0 of 0 people found this review helpful
  •  
    Brad 01-21-16
    Brad 01-21-16
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    "Blah blah blah!"
    What disappointed you about Distress Investing?

    I have no idea how to apply any of the information talked about in this book. I thought I was going to learn how to invest in distressed stocks, but it just keeps going on and on and on talking about past stats and distressed companies of the past. I couldn't even make it past chapter 2. I literally couldn't take anymore and had to turn it off, but not before quickly listening to the beginning of all the other chapters that just continue to ramble on. The author has no idea how to engage the reader. I don't know how the guy reading this book didn't fall asleep. I think the author wrote this book just to hear himself talk. I'd be surprised if he ever invested in a distressed company himself. From the little I could stand listening too, it sounds like you'd have to be a multi millionaire to invest in a distressed company and you'd have to be stock market or CEO wizard to following the endless statistical rambling. If you're interested in endless percentages that you can apply to nothing than this is the book for you! Total waste of my time and money.


    0 of 0 people found this review helpful
  •  
    Singlestrand 01-07-13
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    "Kind of rambling..."
    What disappointed you about Distress Investing?

    Having read Moyer's Distressed Debt Analysis (a solid book), I was hoping for something similar but the author is kind of all over the place going from hokey (spending too much time on "bear raiders" and fumbling explanations for why EMH does not hold at all, not just in distressed debt) to highy technical (sometimes using absurd acronyms that no industry participants really use) with little warning. It could also be possible that my standards are too high -- this book does give some general intro on to what distressed investing is and how some people go about it.


    Has Distress Investing turned you off from other books in this genre?

    No, there are plenty of other good ones although I'm beginning to question whether an audiobook is the best format for this type of material.


    1 of 2 people found this review helpful
  •  
    T. Plunk 05-10-13
    T. Plunk 05-10-13 Member Since 2017
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    "Great book intended for the professional investor"
    What did you love best about Distress Investing?

    Detailed textbook like book on distressed investing.


    Would you ever listen to anything by Martin J. Whitman and Fernando Diz again?

    Yes.


    What three words best describe Pete Larkin’s performance?

    College lecture like


    If you were to make a film of this book, what would be the tag line be?

    Professional distressed investing.


    Any additional comments?

    Great book, love the perspective.

    1 of 3 people found this review helpful

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