There's so much news happening around the world that we're somehow supposed to stay on top of.

That's why we launched The Big Take. It's a daily podcast from Bloomberg and I Heart

Radio that turns down the volume a bit to give you some space to think.

I'm Wes Kossova.

Each weekday I dig into one important story and talk about why it matters.

Listen to the big take on the I Heart Radio app,

Apple Podcasts, or wherever you listen.

Brought to you by Bank of America,linch, with virtual reality, virtually everything will change.

Discover opportunities in a transforming world, B of A.M.com.com. V.R. Merrill Lynch, Pierce, Fenner, and Smith, Incorporated. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene with David Gura. Daily we bring you insight from the best of economics, finance

investment and international relations, find Bloomberg surveillance on Apple Podcasts,

SoundCloud, Bloomberg.com, and of course on the Bloomberg.

We have a wonderful guest to brief us through this half hour and it's on

distress desk. It's about taking opportunity when nobody else has the courage.

Hans Schum's out of Williams College has made a career of listening to the markets and then

acting when few have the courage to act. He is with Greilock and joins us this morning. Where do you learn to buy distress? You were a literature major. You know, are you reading Dickens or, you know, Edgar Allan Poe to figure out?

How do you train to buy something for 20 cents in the dollar

when everybody's running for the theater exit?

I think I had less to do with my education, probably more to do with

where I grew up. We moved to Nigeria when I was three years old and then from

Nigeria to Morocco and my father likes to talk about me haggling with the merchants and the markets of Morocco.

So that's really interesting actually.

And you know, when I was a kid I used to, I realized that it was pretty easy to make money every time, around spring

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