When the word ‘bloodbath’ just doesn’t quite sum it up, distressed debt investors’s bonuses have been obliterated in 2015. Despite seeking safety away from oil and coal companies, one trader exclaimed, the pain is “like cancer, it’s spreading throughout the body,” as every industry from materials to retail and industrials has collapsed… though, as Bloomberg reports, some investments stood out in their awfulness.
Since the peak last August, Distressed Debt Hedge funds have lost over 8% – its worst since the financial crisis… What happens next?
But, as Michael Carley, the former co-head of distressed debt at UBS Group AG who is a co-founder of hedge-fund firm Lutetium Capital LLC. “If you look at all the segments in high-yield — chemicals, metals and mining, utilities, retail, health care — they’re all impacted.”
Of course, as Bloomberg reportssome investments stood out in their awfulness. Here’s a look at the worst of the worst…
What went so wrong for these companies?
Leave A Comment