What exactly is distress reflected AsianInvestor editor Jame DiBiasio at a panel he moderated on Monday at the Tokyo Distressed and Troubled Asset Investing Summit. Is it a good asset from a distressed seller, or an asset itself that is in bad shape
The panel of distressed experts plumped for the former -- they want good assets that are being flogged off by an imperilled owner.
We prefer something that requires re-engineering, assuming that there is some enterprise value left, said Steve Moyer, a portfolio manager at Pimco. Banks couldn't afford to take the losses on clearing portfolios of loans until they rebuild capital. That accomplished, they can...
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