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This book has a lot of info in every sentence. It is an overview of the scene, not a "buy this particular investment" type of thing. The scene it describes is too complex and shifting for that. Of course, by definition: if getting rich in a field like this was easy, the field itself would shift until it was harder. Hundred dollar bills aren't just laying around, right?
And behind that: it is possible in recent times to find fairly low-cost, retail-level investments that are something of a proxy for these big-shot deals. There are various exotic types of ETFs, options and so on, with which pretty complex bets can be placed, and these can be bought by anyone. But a person who struggles to understand what is discussed here should probably stay miles away from such things. As the saying goes, it's easy to make a small fortune in such things -- just start with a large fortune!
But even if a person is here merely to become better informed, this is not the first place to start. One should have a reasonable understanding of investment concepts and terminology generally, corporate finance and the various financial instruments within that, to start. After that, I listened to an audio from here, "The Art of Vulture Investing," that helped to prep me for this level. But the view is fantastic from here!
This is a few years old, so some of the stories could benefit from an update, but the information is very stimulating, useful and valuable for me, subject to the above caveats.
What disappointed you about Distress Investing?
I have no idea how to apply any of the information talked about in this book. I thought I was going to learn how to invest in distressed stocks, but it just keeps going on and on and on talking about past stats and distressed companies of the past. I couldn't even make it past chapter 2. I literally couldn't take anymore and had to turn it off, but not before quickly listening to the beginning of all the other chapters that just continue to ramble on. The author has no idea how to engage the reader. I don't know how the guy reading this book didn't fall asleep. I think the author wrote this book just to hear himself talk. I'd be surprised if he ever invested in a distressed company himself. From the little I could stand listening too, it sounds like you'd have to be a multi millionaire to invest in a distressed company and you'd have to be stock market or CEO wizard to following the endless statistical rambling. If you're interested in endless percentages that you can apply to nothing than this is the book for you! Total waste of my time and money.