{ "item_title" : "The Distressed Debt Investor", "item_author" : [" Julian R. Sterling "], "item_description" : "The bonds trade at 40 cents. Bargain or trap?Distressed debt investing means buying the debt of troubled companies to profit from a restructuring, turnaround, or liquidation. Done well, it offers debt-level downside with equity-like upside. Done poorly, it is a fast way to lose money in illiquid, litigious situations. The difference comes down to one question: where in the capital structure does value break?The Distressed Debt Investor is the field guide for professionals who do this work and the newcomers who want to - analysts and PMs at distressed and credit funds, restructuring advisers, workout desks, and students targeting these seats.Across four parts, you will learn how to: Read a capital structure - priority, security, and structural subordinationFind the fulcrum security that converts into the reorganized equityTell a liquidity problem from a solvency crisisValue a troubled business to a conservative downside and find the liquidation floorAnalyze covenants, intercreditor terms, and transfer and priming riskNavigate out-of-court and in-court restructurings and model recoveriesNegotiate in a creditor group and run a loan-to-own playBreak in and build a distressed and special-situations careerThis is not a book of shortcuts. Distressed investing is high-risk and unforgiving of sloppy work; every framework here is built around downside first, illustrated with clear, hypothetical worked examples.Invest in distress with discipline instead of hope. Start here.", "item_img_path" : "https://covers1.booksamillion.com/covers/bam/9/79/818/963/9798189637964_b.jpg", "price_data" : { "retail_price" : "24.99", "online_price" : "24.99", "our_price" : "24.99", "club_price" : "24.99", "savings_pct" : "0", "savings_amt" : "0.00", "club_savings_pct" : "0", "club_savings_amt" : "0.00", "discount_pct" : "10", "store_price" : "" } }

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