How to Profit From the Mistakes of Others

The active investor only achieves above average performance to the extent that he can identify and act on mistakes others make. Distressed debt investors almost never invest in companies where everything's going well, writes John MacIntosh. The distressed debt opportunities built up in two or three years were five to seven of the best we've ever encountered,. says MacIntosh: "There's no getting away from the need to make concerning decisions"