Maglan Up 15% YTD Adds Music To Hedge Fund Mix

Maglan Capital’s Chief Investment Officer Steven Azarbad President David Tawil are riding high with their distressed investing strategy, up nearly 15 percent year to date, and they reveal one secret to success: “When blood is in the streets, we’re all vultures.” Maglan: High defaults turns distressed-focused investor  into a fixed-income bargain-hunter Writing in their July investment letter, Maglan notes that when defaults are high “any remotely distressed-focused investor (and even many high-yield investors and general event-driven investors) turns into a fixed-income bargain-hunter, picking up distressed debt at a discount,” the letter said, noting the expectation of rich profits in such a…