Tue, Dec 23, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Learning the art of vulture investing

Wednesday, December 05, 2012

Bailey McCann, Oplaesque New York:

Vulture investing often gets a bad rap when it comes up in public conversations. Recently, vultures have been back in the spotlight with the demise of poorly managed Hostess, and the all out war between Elliot Management and Argentina. Yet, the vultures themselves, like George Schultze of Schultze Asset Management, see an art to it, and perhaps even some benefit to the market. Schultze recently released a new book about vulture investing entitled, The Art of Vulture Investing in which he discusses how vultures choose their deals.

Schultze has been a true vulture investor for over a decade, and was labeled by President Obama one of the "Chrysler holdouts," for his involvement on the federally managed restructure of the US auto industry following the 2008 crisis. The Chrysler deal was the first time a CEO and the President of the United States announced a bankruptcy together and also the first time the President was directly involved in a managed bankruptcy of a private company.

"Things got a little hairy there," Schultze said in an interview with Opalesque. He explains that the priority scheme for the bankruptcy was fundamentally changed with the involvement of the federal government – a situation he illustrates in de......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Investing - Hedge funds get boost from healthcare in 2014, Paulson & Co takes stake in Salix on heels of inventory issues[more]

    Hedge funds get boost from healthcare in 2014 From Valuewalk.com: The healthcare sector started the year on a turbulent note, as stocks of many major biotechnology companies were battered. However, most of the players in this sector have bounced back. The BarclayHedge Healthcare & Biotec

  4. North America - Why Steve Cohen, Connecticut hedge fund billionaire, gives so much in New York[more]

    From Insidephilantrophy.com: Billionaire Steve Cohen was born in Great Neck, New York before attending Wharton, working on Wall Street and then founding SAC Capital Advisors in Connecticut. Though his company (Point72) and foundation are based in Connecticut, Cohen and Alexandra are deeply connected

  5. Investing - Soros buys a highly speculative biotech in the third quarter[more]

    From Fool.com: …The Soros Fund bought 25,000 shares of the struggling small-cap biopharma Aegerion Pharmaceuticals in the third quarter. For those of you who haven't heard of this name, suffice to say that this was a surprising buy in light of the company's recent problems and poor outlook going for