What will happen to Atmus Filtration (ATMU) after the exchange concludes?
What will happen to Atmus Filtration (ATMU) after the exchange concludes? One situation that I’m closely following is Cummin’s (CMI) spin off of Atmus Filtration (ATMU). The situation is/was a fun one to watch because [...]
January 2024
How to Buy Your Favorite Stock at a Discount
How to Buy Your Favorite Stock at a Discount One of my favorite strategies for adding to a favorite stock is by selling puts. When you sell a put, someone is paying you cash today [...]
Spin-off Mailbag: How do you get in touch with Investor Relations
Spin-off Mailbag: How do you get in touch with Investor Relations? One of the reasons that I love investing in small and micro-cap companies is that generally it’s easy to get in touch with management [...]
December 2023
A “SOTP” Horror Story
A “SOTP” Horror Story Sum-of-the-part or SOTP analysis is a key tool that I use when analyzing a spin-off. Most conglomerates trade at a “conglomerate discount” and so SOTP analysis can be useful to understand [...]
October 2023
Spin-off Mailbag: Why Don’t Investors Short All Spin-Offs?
Spin-off Mailbag: Why Don’t Investors Short All Spin-Offs? I got a great question in my Twitter DMs related to shorting spin-offs.... Here's my answer: First, it’s hard to short spin-offs right when they come out. [...]
Spin-off Calendar
Spin-off Calendar Danaher (DHR) spun off Veralto Corporation (VLTO) on September 30. You can read my deep dive on Veralto here (paywall) Aramark (ARMK) spun off its uniform services business, Vestis (VSTS) on Sept 29. You can read my deep dive on Vestis here (paywall) On [...]
Spin-off Links – October 2023
Spin-off Links - October 2023 There has been a TON of spin-off activity. Let’s get right into it…. New Spin-off Announcements On September 21, 2023, W. P. Carey (WPC) announced that it will exit the [...]
September 2023
Seth Klarman Special Situations Investing Case Study
Seth Klarman Special Situations Investing Case Study Seth Klarman, famous value investor and CEO of Baupost Group, was recently interviewed on the “Capital Allocators” podcast. It was a terrific interview, and I recommend listening [...]
August 2023
Talking Spin-offs with Schroders The Value Perspective
Talking Spin-offs with Schroders The Value Perspective I recently had the opportunity to talk spin-offs with Juan Torres Rodriguez, host of The Value Perspective. I had a blast! Here's what we covered: 3:02: My [...]
July 2023
Options Case Study: “Poor Man’s Covered Call”
Options Case Study: “Poor Man’s Covered Call” One of the main motivations that Rich Howe and I identified when we were discussing launching the Stock Spin-off Investing Ultra Options Trading Advisory service (“SSI: Ultra” for [...]
June 2023
3 Biases to Avoid as a Special Situations Investor
3 Biases to Avoid as a Special Situations Investor I was recently interviewed for a podcast, and the host asked me about behavioral biases. Specifically, the host asked: What are the behavioral biases most commonly [...]
Joel Greenblatt Podcast Interview
Joel Greenblatt Podcast Joel Greenblatt is my favorite investor. He specializes in special situations and generated 50% annual returns for a decade. Whenever he’s interviewed, I drop everything and listen in. Greenblatt was recently interviewed [...]
May 2023
Spin-offs Links – May 2023
Spin-offs Links - May 2023 It’s been a busy five months in the spin-off world. Let’s get right into it…. Recently Announced Spin-offs On May 18, 2023, Alibaba (BABA) announced that it will be spinning [...]
5 Ways That I Use BamSEC
5 Ways That I Use BamSEC One of my favorite investing tools out there is BamSEC. Here are the 5 ways that I use it: 1) Let's start with spin-offs.... Months before it starts trading, [...]
April 2023
Updated Spin-off Calendar
Updated Spin-off Calendar Star Holding (STHO) was spun off of iStar (STAR) on Friday, March 31. You can read my thoughts here. Imminent Spin-offs: 1) Crane Co (CR) will be spun off from Crane NXT on Monday, April 3. You can read my notes here. 2) Madison Square [...]
March 2023
Warren Buffett and Spin-offs
Warren Buffett and Spin-offs Warren Buffett, the world’s greatest investor, has a complicated history with spin-offs. On the one hand, he’s made a lot of money investing in them. But he would never spin [...]
Spin-offs with Insider Buying (March 2023)
Spin-offs with Insider Buying (March 2022) I recently scanned my spin-off / special sits watch list for insider buying and found 7 stocks that are worth highlighting. Let’s go in alphabetical order… Altisource (ASPS) [...]
Talking Spin-offs with Value Investor Chatter
Talking Spin-offs with Value Investor Chatter Last week, I had the opportunity to talk spin-offs with Beko Jang on the Value Investor Chatter Podcast. Here's what we covered: 5:01: Exploring the Benefits of Spin-off [...]
February 2023
How to Invest in Biotech (without being a specialist)
How to Invest in Biotech (without being a specialist) I know many investors who don’t invest in certain sectors because they require specialized expertise. A few of the most common examples: Financials Energy Biotech [...]
Spin-off Links – February 2023
Spin-off Links - February 2023 Lot’s going on in the spin-off world. Let’s get right into it… Recently Announced Spin-offs Baxter (BAX) announced on January 6 that it plans to spin off its Renal [...]
January 2023
The Strategy John Malone Uses to Generate Income
The Strategy John Malone Uses to Generate Income John Malone is one of the best operators and investors in the world. He is profiled in value investing cult favorite The Outsiders. Malone is best [...]
November 2022
[Podcast] Stock Spin-off Investing for Beginners
[Podcast] Stock Spin-off Investing for Beginners I recently had the opportunity to talk with the guys from The Investing for Beginners Podcast. It was a blast! Here's what we covered: · How would Rich explain what [...]
2seventy bio: A Double With Downside Protection
2seventy bio: A Double with Downside Protection The biotech market is in a bear market and it’s been that way for a while. XBI, the leading biotech ETF, is down 53% from its peak in [...]
Spin-offs with Insider Buying (November 2022)
Spin-offs with Insider Buying (November 2022) I recently scanned my spin-off watch list for insider buying and found 4 stocks that are worth highlighting. Let’s go in alphabetical order… Conduent (CNDT) Conduent is a business [...]
October 2022
Spin-off Links – October 2022
Spin-off Links - October 2022 There has been a TON of spin-off activity. And valuations generally look quite attractive. I don’t know when the bear market will end, but I do know I’m seeing a [...]
The BEST Bull Spread Option Strategy to Use – Part 2
The BEST Bull Spread Option Strategy to Use Part 2 Part 2 of 5 Part Series Option Spreads Comparison Part I – Full Explanation of Both Types of Bull Spreads Part II – The Best [...]
September 2022
The BEST Bull Spread Option Strategy to Use
The BEST Bull Spread Option Strategy to Use Option Spreads Explained – Four Part Series Part I – Explanation of Both Types of Bull Spreads Part II – The Best Bull Spread Option Strategy? Part [...]
Market Champions Podcast
Market Champions Podcast I recently had the opportunity to speak with Srivatsan Prakash on his podcast. Fun fact about Srivatsan: He's been podcasting since 2019 but is only 18!! Fun fact #2: He [...]
August 2022
6 Rules for Options Success
6 Rules for Options Success In a few weeks, we are going to launch an options advisory service. I’m extremely excited to have partnered with Bruce Harper, an options expert, to lead the advisory. Bruce [...]
Learn This BEFORE You Start Trading Options
Learn This BEFORE You Start Trading Options When it comes to options trading, there’s literally an ocean of disparities in what different traders bring in terms of their technical, theoretical and practical knowledge. Because there [...]
July 2022
How Long Will the Bear Market Last
How Long Will the Bear Market Last The U.S stock market has been brutal in 2022. Through the first two quarters of the year, the S&P 500 is down 20%. While the market is up [...]