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Distressed Securities |
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Distressed securities A security of a firm that has declared or is about to declare bankruptcy. In the context of hedge funds, a style of management that focuses on securities of companies that have declared bankruptcy and may be undergoing reorganization. Investment holdings can include bonds as well as stock in these firms. Distressed Securities A security in an unprofitable company, or in a company believed to be unprofitable. This is considered to be a high-risk security with the potential for high return because financial distress often precedes corporate restructuring. This may make the company profitable very rapidly. On the other hand, the potential for default is very high. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Well, of course, we buy distressed securities from motivated sellers. In a study Foothill Group commissioned, it was estimated that the total market value of distressed securities and bank debt and trade claims in default is about $200 billion, with a book value of $300 billion, while there is so far only $5 billion under active management by investment firms dedicated to this area. NYSE: JEF), today announced the hiring of Kenton Jernigan, who joins as Managing Director and head of the firm's European institutional high yield and distressed securities sales and trading effort. |
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