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Flowers Foods: A Good Investment Without Hostess
Long Investing Ideas from Seeking Alpha
Mon, 26 Nov 2012
By Chris Katje : Shares of Flowers Foods ( FLO ) have seen a lot of action over the last two weeks. Shares have been in the spotlight because of rival company Hostess closing the doors of its factories and entering bankruptcy. Flowers, which competes with Hostess in bread and snacks, is seen as the ...
The Fairholme manager comments on the fund's significant investment in the convertible bonds and bank debt of bankrupt mall operator General Growth Properties.
A shorter, more orderly bankruptcy process is good news for distressed debt investors, but it does shift the game a little bit, says Third Avenue's Jeff Gary.