The Art of Vulture Investing / Wiley Finance Editions (PDF)

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.