Unlike most investors, who live in fear of failure, Scott Fearon actively seeks it out. He has earned millions of dollars for his hedge fund over the last thirty years shorting the stocks of businesses he believed were on their way to bankruptcy. In Dead Companies Walking, Fearon describes his methods for spotting these doomed businesses, and how they can be extremely profitable investments. In his experience, corporate managers routinely commit six common mistakes that can derail even the most promising companies: they learn from only the recent past; they rely too heavily on a formula for success; they misunderstand their target customers; they fall victim to the magical storytelling of a mania; they fail to adapt to tectonic shifts in their industry; and they are physically or emotionally removed from their companies' operations.
Fearon has interviewed thousands of executives across America, many of whom, unknowingly, were headed toward bankruptcy - from the Texas oil barons of the 80s to the tech wunderkinds of the late 90s to the flush real estate developers of the mid-2000s. Here, he explores recent examples like JC Penney, Herbalife and Blockbuster Entertainment to help investors better predict the next booms and busts--and come out on top.
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Scott Fearon has spent thirty years in the financial services industry. Since 1990, he has managed the hedge fund Crown Capital Management. The fund has significantly outperformed the S&P 500 by investing in fast-growing companies while shorting the stocks of “dead companies walking,” businesses on their way to bankruptcy. His debut book, Dead Companies Walking: How a Hedge Fund Manager Finds Opportunity in Unexpected Places, was published in January of 2015 and was named a Book of the Month by Amazon and a Must-Read by TheStreet.com.
In addition to writing and running his hedge fund, Scott actively supports a number of charities. He co-founded Oak Hill School for disabled children in San Anselmo, California. Any proceeds he earns from the sale of Dead Companies Walking will go to the school.
Jesse Powell graduated summa cum laude from Montana State University with a BA in English. He holds a Business minor.
Born in Colorado, he moved to Montana during High School after being one of the first to be expelled via Zero-Tolerance Policy leading to the federal Gun-Free Schools Act of 1994. He was one of the thousands of outrage stories derivative from such policies.
His transcripts changed from Honor Roll to ruin, he joined the US Army from 1995-1999 and served as an armor crewman on an M1A1 Abrams during TFXXI with the 4th Infantry Division.
Jesse briefly operated equipment for a utility contractor until 9/11 and the ensuing telecom bust of 2001. He then installed septic systems until returning to the Army Reserves.
Trained as a Biomedical Equipment Repair Technician, unable to find employment, he became a fleet mechanic for a garbage company and lost his house in the process.
After 5 years he became a Master Certified Technician for heavy trucks. He then lost his job during the recession and enrolled at the university.
Jesse draws from the wide variety of the people and places he has been to create the stories he enjoys sharing.