J.C. Penney Company Inc

I've spent years studying junk bond issuers, so I always get suspicious when I see a restaurant company, of all things, trading at high multiples of earnings, cash flow, or debt.

The restaurant business is notoriously risky, you see; there are few barriers to entry, fickle and economically sensitive consumers are at every turn, and it's extremely difficult to maintain high quality at any point on the price spectrum.

Still, it's not often you find a grossly overvalued (and overripe) company lying smack in the middle of the intersection of every single one of these very specific woes.

Yet that's exactly what I've found here.

In fact, I've just issued detailed trading instructions for profiting on this clunker to my Zenith Trading Circle readers, but this company is in such bad shape – such a perfect example of almost everything wrong with Corporate America today – that I had to let everyone know, so you can get the chance to profit now and later on, if a similar situation unfolds again.