CNN Money – They pray for recessions and smile a little wider when a company climbs onto its death bed.
Welcome to the world of distressed, or so-called "vulture" investors, an often-ignored corner of the market that has increasingly taken center stage as more businesses slip into bankruptcy or look to shed assets.
There has been no shortage of corporate ruin lately. Lehman Brothers, which sent a shockwave across the financial system. Outside of the banking sector, electronics retailer Circuit City and media giant Tribune Co both filed for bankruptcy.