hi jeff i have been buying busted companies for years. One deal made me independent for life but as i look back allot of luck involved. Those that don't admit luck in turnarounds are liars. I saw your book looks interesting. very very hard to find a good operator that can work with people and not alienate them. I have capital to invest if you can't find an operator and don't want to buy a company. I am doing valuations and cash flow crisis management while i wait for next downturn. Lets chat

I'm with you, there is TONS of luck in a turnaround (most of it bad) but I think when the good and bad shows up is the difference. If critical equipment breaks when we don't have money to fix it vs. a year later when we probably do have the cashflow and customer support to fo the repair.