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Article: Managers Search for Distressed Asset Gems.(News)
- Article from:
- Money Management Executive
- Article date:
- January 5, 2009
- Author:
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Alan Lavine
While the news about the economy and the markets continues to be bad, some in the business are taking heart.
Many money managers, in fact, say it could be time to invest in distressed assets, citing a large number of business restructurings, falling profit margins and plummeting stock prices.
Certainly, financial stocks have been hardest hit, decimated by the subprime lending crisis. Ronald Surz, president and chief executive officer of PPCA, a San Clemente, Calif.-based, financial consulting firm, said most premier, large-cap financial companies have been driven down so much, they're now smaller company growth stocks.
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