Sun, May 20, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

The art of vulture investing, a new book explains what being a vulture fund really means

Friday, February 01, 2013

Bailey McCann, Opalesque New York:

Vulture investors have been making a lot of news of late, and for those that might be interested in learning more about what a vulture fund really is, good news – there’s a book for you. George Schultze the CEO of Schultze Asset Management recently released a book entitled, The Art of Vulture Investing. The book offers a detailed account of how he made a career out of investing in troubled companies and what it takes to be successful. Schultze recently sat down with Opalesque TV to discuss the book, and his career.

"We do it a certain way, we short companies on their way into distress and into trouble. When they are in trouble, we focus more on their loans and their bonds that trade at a discount. And then after they have reorganized, we also invest in the equity of these companies, called post-reorganization equity," Schultze explains.

Schultze Asset Management has been working on this formula since it was founded 15 years ago. Schultze himself is a lawyer as well as a financial professional. His firm was involved with the Chrysler bankruptcy during the financial crisis and was dubbed one of the "Chrysler holdouts," by President Obama. He says that this experience was one of the catalysts that pushed him to write a boo......................

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. News Briefs - Warren Buffett: Target date funds aren't the way to go, Cambridge Analytica could be reborn under a different name[more]

    Warren Buffett: Target date funds aren't the way to go Planning for retirement can be complicated and stressful. This is why target date funds - funds that are managed based on when you expect to retire - are so attractive. Over time, the balance of stocks, bonds and cash evolve automati

  2. Investing - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  3. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven