Distressed Debt Investor Club

Development for the Distressed Debt Investor Club is nearly complete (call it 90%). Final launch date is still TBD, but think soon. That being said, I thought I would put a post up on how I expect things to unfold in the next few weeks, and what you should be thinking about if you are planning to join / apply.

It really boils down to having an investment idea (that is actionable today) ready to submit. This idea could range from anything to a long bank debt idea, a merger arb opportunity, a spin-off, a short bond idea, stub play, post-reorg equity, a trade claim, etc. And I don't want the idea to be a "post-mortem" analysis...I want to be able to trade on the idea right now. The format that we will be using, similar to the Tiger Management process: A four sentence synopsis of the idea, followed by a more thorough write-up explaining the investment opportunity. On the site, you will be able to attach a file to your write-up, and if you think it appropriate, reference the attachment in your write-up. The write-up doesn't have to be more than 2 pages (I'd prefer 1 page...but understand some ideas need more vetting than others).

When the site is live, we will have a small beta test, and then launch the site to all after all the kinks are worked out. If you are interested in the beta test, please email me (first 5 to email me will be selected - benefits include free membership for 2010...hunter [at] distressed-debt-investing.com).

I really hope everyone applies. We are targeting 250 members by the end of the year, and will stagger the acceptance process up until then. From the 2 or 300 emails I have received on it, this will be a very high caliber group, with a number of the best distressed debt / event-driven hedge funds represented (anonymously of course).