From the Back Cover
Praise for The Art of Vulture Investing
"Over the years, George Schultze has demonstrated considerable knowledge of distressed securities and value investing. He now shares his extensive overall experience in this very sector in a clear and understandable manner, which should be of considerable interest to any person interested in the subject."
--Grant Stoddart, CEO, Sharp Performance USA, Inc.
"George's easy-to-read style compels the reader to learn more about the opportunities to invest in troubled companies. It's a good read for anyone interested in learning how to tackle the tough issues with a thoughtful and honest approach."
--Ron S. Geffner, Partner, Sadis & Goldberg LLP
"Happy to see George has learned his lessons well."
--Phil Smith, adjunct professor at Columbia Business School, Managing General Partner, Private Equity Partnership, and Vice Chairman of Spencer Trask & Co.
"This book offers a fascinating inside look into the specialized, and often misunderstood, world of distressed debt investing. The strategies and tactics that these investors use to create or realize value in distressed companies are memorably illustrated through one prominent investor's personal experiences--blow-by-blow--in some of the most challenging and controversial restructurings of the past decade. This is not investing for the faint of heart."
--Professor Stuart C. Gilson, Steven R. Fenster Professor of Business Administration, Harvard Business School and author of Creating Value Through Corporate Restructuring: Case Studies in Bankruptcies, Buyouts, and Breakups
"A great inside account showing that vulture investors don't feed on carcasses, but resurrect failing businesses. They allocate capital more efficiently and often save and create jobs. Vultures in nature don't add value; vulture investors like George Schultze do."
--Charles E. F. Millard, Head of Pension Relations at Citigroup; former director, Pension Benefit Guaranty Corporation
George Schultze (Purchase, NY) has been an actively investing in distressed securities for over 14 years. He is Managing Member and Portfolio Manager of Schultze Asset Management, LLC, and?chairs the Schultze Research and Strategy Committees, making the final decision on all investments for the portfolio.? During and after graduate school he managed a family fund investing in distressed securities and special situations. From 1996-98, Mr. Schultze was a Senior Analyst at MD Sass investing a $1.3 billion portfolio. He honed his activist approach to investing with analysis and committee work for various investments including: Marvel Entertainment Group, MobileMedia Communications, Signet Jewelers, and CGE Ford Heights.? While in graduate school, he was employed at Fiduciary Partners, Mayer Brown & Platt, the Law Office of Grant Herrmann Schwartz & Klinger, and at Merrill Lynch.? At Fiduciary Partners, a $25 million fund-of-funds that invested in distressed hedge funds, he developed strong views on the types of distressed strategies that lead to consistent success. Mr. Schultze is a joint graduate of Columbia Business School and Columbia Law School, JD/MBA ('95/96).? He served as editor of certain articles in the Columbia Business Law Review and separately, founded the Columbia Law School Investment Club. Mr. Schultze earned a B.A. from Rutgers College where he graduated with a joint major in Economics/Political Science. Mr. Schultze is a frequent speaker at investment conferences such as the Harvard Business School Venture Capital & Private Equity Conference, the Wharton Business School Distressed Securities Forum, the Columbia Business School Investment Management Conference, the Beard Group Distressed Securities Forum and the Opal Financial Summit.? He has been interviewed by Bloomberg, FOX, and CNBC, as well as TheStreet.com, CNN, CNNfn, The Wall Street Journal, and The Daily Bankruptcy Review.
