Notify me when there are new comments or replies on my discussion. Significant expertise in investment in corporate distressed debt. The global distressed debt market has been established for some years now, however. The distressed assets sitting on the balance sheets of financial institutions have increased in value in recent months, with a variety of firms reporting paper gains. Get file distressed debt analysis strategies for speculative investors pdf get essential tips and learn more about everything from advantage and. Strategies for speculative investors j ross publishing 2004. Read distressed debt analysis strategies for speculative investors by stephen moyer available from rakuten kobo. Distressed investing, at its most basic level, is a form of deep value investing typically with an eventdriven element as well. Hey guys, anyone have a pdf copy of distressed debt analysis by stephen moyer theyd be willing to send me. Distresseddebtanalysis,stephenmoyer chapter11investing keydecisionstomakewhentheinvestmentstrategycontemplatesrecoveringvalueinpostrreorgsecuriaes. How distressed debt can be a good investment for hedge funds, and find out if the riskreturn relationship is suitable for individual investors. Are there any good distressed debt investing primers. See all 4 formats and editions hide other formats and editions. A 1982 booth alumnus, steve moyer is the president and founder of distressed debt alpha, as well an author of a leading text on the subject.
Estimates of total, venture, and nonventure private equity capital. First, it uses distressed debt prices to estimate recovery rates at default. In this regard, estimates are obtained for three recovery rate models. Distressed debt investing moyer pdf download perpetuo. Strategies for speculative investors book online at best prices in india on. It is perfect for financial analysts, portfolio managers, bankruptcy departments of law firms, restructuring advisory groups, turnaround consulting. Moyer has been a portfolio manager and analyst in the distressed credit group at pacific investment management. Distressed debt investing moyer pdf download perpetuo illegal adreas sveglia author. Pdf the economics of private equity market researchgate. Strategies for speculative investors presents a conceptual, but not overly technical, outline of the financial and bankruptcy law context in which restructurings take place. Detailed course outline session dates subject and readings. Strategies for speculative investors moyer, stephen on. Use features like bookmarks, note taking and highlighting while reading distressed debt analysis. Providing theoretical and practical insight, distressed debt analysis.
The focus is comm real estatebonds backed by real estate. Our objective in this paper is to provide a pedagogical discussion of the process by which creditors take control of distressed firms. Ross publishing, 2004 the vulture investors revised edition hilary rosenberg wiley, 2000 bankruptcy investing how to profit from distressed companies. View steve moyers profile on linkedin, the worlds largest professional community. Save up to 80% by choosing the etextbook option for isbn. Distressed investing can take many forms, although these days it is usually used in connection with distressed debt. Save this book to read distressed debt analysis strategies for speculative investors by stephen g moyer pdf ebook at our online library. Hedge fund investing in distressed securities 3 25 executive summary the sharp correction in the us subprime market in mid2007 was the catalyst for what has been a near perfect storm in global credit markets. The book covers the broader financial environment of the reorganization and the basic process of investment analysis and. Download it once and read it on your kindle device, pc, phones or tablets. We show that identifying the economic default date, as distinct from the recorded default date, is crucial to. Strategies for speculative investors 1st ed by moyer, stephen g. Anyone know any good books or resources on distressed debt due diligence.
Distressed debt analysis by stephen moyer, 9781932159189. We estimate a new recovery rate process and use it to price distressed debt. Seasoned professional with substantial investment management, analysis and banking. Amazon price new from used from kindle edition please retry. Get for free stephen g moyer distressed debt analysis strategies for speculative investors ebook in pdfepubonline. Steve moyer president distressed debt alpha linkedin. The ford motor company reported total debt of about 155 billion u.
Distressed debt prices and recovery rate estimation. What other sources and communities could you recommend me in addition to learn it better. Im new in the community and started learning about how to value the distressed debt by using distressed debt analysis. Distressed debt analysis addresses the complete knowledge needs of investors and professionals in the burgeoning world of financially distressed companies. His interest in distressed securities analysis began when he was a member of the. Total debt comprises automotive debt, credit debt, and other debt. It is perfect for financial analysts, portfolio managers, bankruptcy departments of law firms, restructuring advisory groups, turnaround consulting firms, and reorganization and distressed. Strategies for speculative investors kindle edition by stephen g.
Latest distressed debt articles on risk management, derivatives and complex finance. Seasoned professional with substantial investment management, analysis and banking experience coupled with corporate law background seeks opportunity to teach finance and related topics at college or graduate school level. Seasoned professional with substantial investment management, analysis and banking experience coupled with corporate law background seeks opportunity to. Question i am looking for some material that will help me better understand how credit fund managers analyse situations and create their investment theses. George perry rated it liked it dec 07, moyer moyer distressed debt question for distressed debt folks about a concept introduced in moyer s book distressed debt moyer distressed debt analysis moyer and then. I am very interested in the distressed space and want to learn as much as i can. Strategies for speculative investors 1st edition by stephen moyer and publisher j.
Strategies for speculative investors kindle edition by moyer, stephen g. Altman abstract this paper explores the scope and importance of the distressed debt market and its market participants and summarizes several relevant scholarly publications. How do investment professionals analyze distressed debt as. Buying companies by acquiring their debt by stephen g moyer, david martin, and john martin1 acquiring control of a company typically involves buying the firms equity and then assuming its liabilities. Distressed debt analysis strategies for speculative investorsstephen g. Distressed debt investors ddis invest across distressed entities capital structure. I understand the due diligence req on assest level i. Download it once and read it on your kindle device, pc. Are there any examples of distressed debt investment pitch. I would look at this bankruptcy court doc which has investment memos from tennenbaum capital partners regarding its investments in radnor which filed for chapter 11. They cannot afford to say something different and expecting it to sell. Strategies for speculative investors addresses the complete knowledge needs of investors and professionals in the burgeoning world of financially distressed companies. Moyer provides the insight, indepth analysis and strategies necessary to invest successfully in the securities of financially distressed companies.
Are there any good distressed debt investing primerspitches out there. Strategies for speculative investors was published in 2005, and moyer continues to speak at industry conferences and institutions of higher learning. While no one has done an extensive analysis of the number of people who deal with corporate distress on a regular basis, we would venture a guess. Distressed debt analysis 2004 edition open library. Distress or vulture investing requires a high level of business acumen combined with deep knowledge of accounting. One of the more widely accepted definitions of distressed debt is generally attributed to martin. Get distressed debt analysis strategies for speculative investors by stephen g moyer pdf file for free from our online library. Steve moyer is a portfolio manageranalyst in the distressed credit group of pimco.