The Vulture Investors - A Good Read

Wow, this was a good book. It was written by an editor and writer for Institutional Investor (a great industry mag) and goes into some of the big deals in distressed securities (bankrupt or near bankrupt companies) from 1992 to 1999. Each deal/story is sort of a module (she reiterates some of the legal stipulations in a few places) so you could read one then another out of order. In the end, they all allude to each other and build on each other a little; probably because many of the deals' players overlap (it's a small world) and the tactics used in a previous deal might be looked at or used in a later one.

All in all, if you're looking for a quick way to get to know the movers and shakers of the 1990s, as well as the rules and regulations that allowed them to profit quite handsomely in many cases, this is a very good read. Even if you're 'just' an investor it could be good as well, because it gives a good insight into a world that many do not understand and are scared of (both to the benefit of the vultures).