(?)
Quotes are added by the Goodreads community and are not verified by Goodreads. (Learn more)

“Owing to a debtor’s ability to reject contracts of nearly all types, a bankrupt company is frequently in a position to become a low-cost competitor in its industry upon reorganization. Unprofitable, high-cost facilities are closed or sold, above-market lease costs are reduced to market levels, and a company’s overstated assets are typically written down on its books to fair-market value, thereby reducing future depreciation charges. The bankruptcy process can sometimes serve as a salutary catharsis, allowing troubled firms the opportunity to improve their business operations.”

Seth A. Klarman, Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor
Read more quotes from Seth A. Klarman


Share this quote:
Share on Twitter

Friends Who Liked This Quote

To see what your friends thought of this quote, please sign up!

0 likes
All Members Who Liked This Quote

None yet!


This Quote Is From


Browse By Tag