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The Art of Vulture Investing Audiobook

The Art of Vulture Investing: Adventures in Distressed Securities Management

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Publisher's Summary

A detailed and compelling look at distressed securities investing in today’s market. In the corporate world, “vulture” investors in distressed securities serve the same cleanup function as vultures do in the natural world: they deal with failing companies, digest bad debt, and mop up after bankruptcies. Since this market’s structural and legal complexities create greater inefficiencies than in other investment fields, it’s a style of investing that can make money during both booms and busts. While recent economic carnage has made opportunities for vulture investors, more convoluted bankruptcies, conflicts of interest, and even government intervention have made this arena harder to negotiate. Nobody understands this better than author George Schultze, founder of Schultze Asset Management. During his successful career as a vulture investor, he’s learned a number of lessons and developed an investment philosophy that has served him well. Now, in The Art of Vulture Investing, Schultze shares his valuable insights and experiences with you. Engaging and informative, this reliable guide offers a bird’s-eye into the opportunities and risks associated with vulture investing. And while it may not always be pretty, you’ll see exactly why this process is necessary for our economic ecosystem. Throughout this book, Schultze explains the theory and strategy of vulture investing in clear and lively prose, illustrating each concept with examples from his own varied experience that show how the landscape has changed in recent years.

Offers valuable information on distressed securities investing since the 2007-2009 financial crisis Examines the opportunities and dilemmas for modern vulture investors Includes in-depth case studies of high-profile bankruptcies, including those of Chrysler Automotive and Tropicana Casinos and Resorts By its very nature, investing in distressed companies can be a complicated and risky business. But once the dust settles, these investments can yield extraordinary profits. The Art of Vulture Investing puts this discipline in perspective and shows you how to excel at this difficult, yet rewarding, endeavor.

©2012 George J. Schultze, Janet Lewis. (P)2012 Audible, Inc.

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    Phil O. San Diego, CA, United States 06-05-17
    Phil O. San Diego, CA, United States 06-05-17 Member Since 2011

    Business Law Professor. Fan of history, finance, law, politics

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    "A gem: big chunk of education & a model of clarity"

    I agree with the author's assertion: if I can't distill my understanding of something well enough to explain it to a child, I probably don't really understand it (particularly, enough to stake decisions on it, such as trading and investment decisions). This is a central guiding principle for me as a law teacher, and I detest phony sophisticates who cannot be bothered to put in the work to use plain language and clear reasoning to explain complex things. Here, the author has done this extra work, and admirably puts this into practice. All that is needed in the reader/listener is a very basic understanding of corporate structure and finance. Some knowledge of recent corporate history is icing on the cake. (Some of these bits explain the motivations of financiers such as Carl Icahn, whose stories I had heard, but I've never heard it taken apart with this level of clarity.) That said, this is not a technically advanced text within this discipline (which would never work with an audiobook anyway; I have found complex equations are not a good fit), but its principles are crystal-clear and very valuable to me, on many levels.
    I cannot agree with two amazon book reviewers who rated this one- and two-stars and wrote, "All the author did was tell stories about himself" and "More of a single persons [sic] experience in vulture investing". The personal history here is enormously supportive of the very clear principles being laid out, step by step and point for point.
    If this title sounds interesting to you (and you are not already formally educated or professional in this sub-field), trust me, get this title. You will be richly rewarded. This is a great entry-point into this sub-field, but it clarifies thinking for any trader or investor along the way.

    1 of 1 people found this review helpful

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