Distressed Investing Archives

Sell Alert: AMC Entertainment 6.125% bonds maturing May 15, 2027… Hold AMC shares

Posted onFriday, January 9, 2026Friday, January 9, 2026AuthorPorter & Co.

In our October 10, 2024, report “Making Money Off Making Movies,” we recommended buying AMC Entertainment (NYSE: AMC) 6.125% bonds maturing May 15, 2027. Our optimism was based on improving operating results and comfortable liquidity – in part because the company was supplementing its cash by selling new shares to the public. Now we think

Sell Alert: Diversified Healthcare Trust Bond And Stock

Posted onFriday, January 9, 2026Friday, January 9, 2026AuthorPorter & Co.

In our Distressed Investing report, “A Stock-Bond Combo Buy,” dated May 10, 2024, we recommended a $1,000 package of the Diversified Healthcare Trust (Nasdaq: DHC) 4.75% bond maturing February 15, 2028 – then trading at $808 – and Diversified Healthcare’s common stock, then trading at $2.31 per share. Our premise was that both DHC’s business

Big Player In Huge Payments Space

Posted onThursday, January 8, 2026Thursday, January 8, 2026AuthorPorter & Co.

When a stock is “priced to perfection” even a small concern becomes a big problem. Put a few small concerns together and presto – pretty soon the stock is half price. These declines are often overreactions, and patient, risk-tolerant investors can benefit from the market’s groupthink.

Paint It White

Posted onThursday, December 11, 2025Friday, December 12, 2025AuthorPorter & Co.

Right now, the industry that produces the key ingredient for everything from Oreo cookies to living-room paint is near the bottom in operating profit and share price. This distress creates the opportunity to recommend shares of one the leaders (a century-old business) in the production of this chemical.

The Fists Come Out In Bankruptcy Court

Posted onWednesday, November 26, 2025Wednesday, November 26, 2025AuthorPorter & Co.

The bankruptcy court’s decision in an ongoing case that Marty Fridson reports on this month may provide some guidance on what to expect if a similar situation arises in distressed bonds in the future. Keeping on top of these developments is an important part of the task of identifying the best opportunities in distressed securities.

Sell Alert: Albemarle 7.25% Preferred Shares

Posted onMonday, November 17, 2025Tuesday, November 25, 2025AuthorPorter & Co.

In our report Dig Baby Dig, published on September 12, 2024, we recommended purchasing Albemarle’s 7.25% Series A Mandatory Convertible Preferred Stock, then trading at $42.89 per share. Our rationale was that the sharp decline in lithium prices had caused the stock prices of the companies, like Albemarle, that produce it, to fall too far.

Value Investing On Steroids

Posted onThursday, November 13, 2025Thursday, November 13, 2025AuthorPorter & Co.

The price of the bond featured this month has fallen sharply during the year – but our team believes the bond represents solid risk-adjusted value at current prices. We think the bond will ultimately be valued materially higher than it is today.

Sell Alert: QVC 4.375% Bond Maturing September 1, 2028

Posted onFriday, October 31, 2025Friday, October 31, 2025AuthorPorter & Co.

In July, we recommended QVC’s 4.375% bond maturing September 1, 2028, when it was trading for around $430. Today, we are recommending selling the bond. We have noticed a recent turn in the distressed-debt market. Until recently, investors tended to look beyond any hiccups in a company’s performance to focus on the longer-term outlook. In

Income Streams

Posted onMonday, October 27, 2025Monday, October 27, 2025AuthorPorter & Co.

To get a copy of this special report, just click the image on the left or click the button below that says “Download.” Then, the special report will be put on your computer into a folder called “Download.”

When Ecstasy Turns To Agony

Posted onThursday, October 23, 2025Thursday, October 23, 2025AuthorPorter & Co.

In looking at the distressed-bond market today, Marty Fridson suggests: Fasten your seatbelts. It’s going to get very bumpy. But investors who remain rational will profit extravagantly from the foreseeable disconnect between value and price in the lower-quality end of the corporate bond market.