As discussed in previous posts: Distressed Debt Investors Club - Intro and Distressed Debt Investors Club - FAQ and Distressed Debt Investors Club - Follow Up #2 we are very excited to say that the beta test (with real live users) is currently underway. Feedback has been remarkable. Development is tweaking some final design / technical flaws, but in a week or so, we will be ready to launch.
In the meantime, if you are planning to apply, get that investment idea ready. Here is what you will need: Company Name, Equity/Bond Ticker, a 4 sentence synopsis of the idea, and a longer write-up. The database allows you to upload a file (whether that be an image, XLS file) so if you want to include that, it is strongly encouraged. The User Base is anonymous meaning you are able to use an alias on the site - and no one will be able to see personal information.
Myself and two of my cohorts will read through each application and make a decision on an applicants status. My biggest concern with this entire boondoggle is the QUALITY OF INVESTMENT IDEAS. I want this to be a place where I can go and if I need to find an equity short, I can search the database for recent equity short ideas and trust that the user knows his shit.
Let me repeat: My #1 purpose for this site is to create the very fucking best community of investment thinkers in the distressed / high yield world.
Users will be able to interact with each other on a member only forum and with comments on each idea. Buy siders and sell siders alike are encouraged to apply. There will be a limited number of member spots for students, as I am hoping the vast majority of users (call it 95%) are currently practicing members and can talk about their investment ideas in the context of the larger market.
If you having questions on any of this, feel free to shoot me an email at hunter [at] distressed-debt-investing [dot] com. Stay tuned in a few weeks for when we open up the site for applications.