Distressed-Debt Losses Worst Since 2008 – “It’s Not Just Energy, It’s Everything”
by Tyler Durden
ZeroHedge.com
11/24/2015
When buy the dip doesn’t work. “Most distressed situations have not worked out in 2015,” exclaims one distressed hedge fund manager facing significant losses on the year, “It wasn’t just energy. It was anything with loads of leveraged debt on it.” As Bloomberg reports, distressed hedge funds dropped 5% in 2015 through October, putting them on pace for their worst year since 2008, when they lost 25%… and November isn’t looking like it will be much better.
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