Reuters- Distressed asset investing, which has been in the doldrums for years, is making a comeback among hedge funds, which predict the strategy could be a top performer in several years, investment managers told a hedge fund gathering on Tuesday.
"Distressed, distressed and more distressed," said Bruce Richards, chief executive officer of the $10.7 billion hedge fund firm Marathon Asset Management, when asked about his best investment idea at the GAIM 2008 conference in Boca Raton, Florida.
"It’s the greatest time we’ve seen since 1990," Richards said referring to the savings and loan crisis that left many financial institutions insolvent and forced a government bailout.
