In the last decade I have done a string of cases for and against people like Evans

who trade in distressed debt. The one thing that they have in common is that they have acquired the debt well below par value ONLY because they see an opportunity to make a fast buck. They are NOT long term investors in the commercial venture whose debt they have bought, and they are NOT sentimental.

If Piswich don't go up in the next two seasons (and getting promotion is a far less certain "industrial opportunity" than most businesses offer for a turn around of the fortunes) then things could get very interesting.

Posted By: Old Git, Nov 1, 09:26:36