Funny Comment About Visteon Equity

Visteon is an automotive supplier that recently exited bankruptcy and has shares trading on a "when-issued" basis. In general, these post-reorganization equities can be attractive to own. But, here is a telling comment about the distressed debt funds' enthusiasm for the trade:

In my 8 years on the buy side, in distressed and high yield land, I have never seen a more consensus long than Visteon’s when issued equity. Simply put, Visteon’s equity to distressed funds is like Apple to Long/Short funds. Many people I know are long it (including myself) – The only thing I can’t figure out: who is selling?

Speaking of Apple enthusiasm - check out the massive speculative long position in the NASDAQ futures contracts.