Bankruptcy Investing: How to Profit from Distressed Companies
Whether you are a savvy investor or experienced fund manager (or aspire to be one), Bankruptcy Investing introduces you to the risky but lucrative opportunities for investing in the securities of troubled companies. This timely new book describes in detail the rules of the game and how to apply them to pick the winners.
The authors, both experts in the legal and financial aspects of bankruptcy investing, explain everything you need to know about investing in distressed companies, including estimating bankruptcy values, how to use timing to your advantage, quantitative techniques to minimize risks, evaluating available data, characteristics of various types of short-term and long-term debt instruments, investment strategies, and sources of additional information.
You'll fully understand all the implications of investing in the securities of firms in all stages of financial distress--from informal or formal workouts to Chapter 11 or Chapter 7 bankruptcy--as well as investing in both debt and equity securities. Real-world examples illustrate how you can profit from investing in troubled companies and what risks are incurred. An extensive glossary defines legal, economic and financial terms.
Bankruptcy Investing translates the often-confusing lexicon of bankruptcy into a profitable investment program that you can implement immediately. You too will discover an exciting way to find new investment winners.
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Inside the Bankruptcy Process
Investing in Bankruptcies
7 other sections not shown
amount analysis arbitrage assets bank Bankruptcy Code bond's bonds borrower called capital cash flow Chapter 11 claims collateral common stock company's convertible convertible bond corporation cost debenture holders debentures debt securities debtor default disclosure statement discount distribution dividend Dow Jones earnings EBITDA equity example exchange expected firm firm's high-yield income interest rates investment investors issuer issues junior junk bonds lenders liabilities liquidation long-term market price maturity million mortgage mutual fund NASDAQ number of shares NYSE option ownership payout period portfolio preferred stock principal profit purchase ratio receive relatively reorganization reports risk selling senior creditors senior subordinated shareholders sold Standard & Poor's Subordinated Debentures subordinated debt subordinated debt holders substantial trading unsecured creditors usually vote warrants yield yield curve yield to maturity