Our latest addition to the Porter & Co. Distressed Investing portfolio is a bond that is secured by the assets of the largest owner of radio stations in the United States. It’s trading at a 17% discount to its $1,000 face value.
Below, you’ll find the latest market and portfolio update from our Director of Distressed Investing, Martin Fridson. We’ll release an update two weeks after each monthly issue. (Martin will also include his trademark short introductory poem.)
The key to defensive distressed investing is simple: find investments that will hold up well when the market declines – and go up when the market eventually recovers. Today’s recommendation offers a high chance of upside with a built-in margin of safety.
Today’s issue will be the first market and portfolio update from our Director of Distressed Investing, Martin Fridson.
Below, you’ll find your first official distressed bond recommendation from Wall Street’s “Dean of High Yield,” Martin Fridson. (Martin is also an accomplished writer of light verse, and will be opening each monthly issue with a short original poem.)