In this episode Geoff Castle, Fixed Income Portfolio Manager, chats with Stan Manoukian, founder of Independent Credit Research LLC. Together they discuss Stan's background, his experiences with distressed debt and the motivation that led him to start his own firm. Stan also discusses in depth the lessons he has learned throughout his career and how he applies them to distressed debt investing. Finally, Stan shares his perspectives on a variety of topics from credit cycles, as they relate to distressed credit investing and the opportunity with reorg equities.