Podcast: Kristoffer Lindström of Lind Research on Coffee Stain (COFFEEB) I recently had the opportunity to speak with Kristoffer Lindstrom of Lind Research on Coffee Stain. Kristoffer is an expert in the Nordic Gaming industry (both sell side and industry) and has high conviction in his investment thesis on Coffee Stain. I really enjoyed [...]
Podcast: Why Ron Nussbaum Sees Value in Comcast's (CMCSA) Breakup I recently had the opportunity to speak with Ron Nussbaum of Maverick Value about his high conviction investment thesis on Comcast (CMCSA). Comcast just announced it's breaking up and will spin-off NBC Universal within 12 months. Ron believes this spin-off will crystallize value. I [...]
Podcast: Podcast: Andrew Walker of Rangely Capital on Corporate Dark Arts and Lionsgate Studios (LION) I recently had the opportunity to speak with Andrew Walker of Rangeley Capital and Yet Another Value Blog about his Corporate Dark Arts series and his write-up on Lionsgate Studios (LION). I really enjoyed the conversation and hope you [...]
The 40% Rule: How to Time Your Entry Into a Spin-Off When a new spin-off hits the market, the first weeks are often defined by relentless, indiscriminate selling. Understanding how to identify when that selling pressure is exhausted — and when to step in — is one of the most repeatable edges in spin-off investing. [...]
Podcast: Chris Waller of Plural Investing and Hidden Gem Investing I recently had the opportunity to speak with Chris Waller of Plural Investing and Hidden Gem Investing about two recent spin-offs: GCI Liberty (GLIBK) and Seaport Entertainment (SEG). Both situations feature strong investor alignment with well-known investors and have recently completed rights offerings (as [...]
2025 Performance Review: A Look Back at Premium Recommendations Over the past few weeks, I’ve taken time to review the performance of my premium recommendations. Today, I want to share a clear, data-driven look at how those recommendations performed in 2025—and, just as importantly, why they performed the way they did. Performance reviews can be [...]
Podcast: Dominick D'Angelo on TopGolf Callaway (MODG) During this episode of SSOI podcast, I spoke with Dominick D'Angelo, Head of Research, of O’Keefe Stevens Advisory. Dominick shared his TopGolf Callaway (MODG) investment case. Here’s what we discussed: 1:55 Dom shares his background 4:35 O’Keefe Stevens Advisory’s approach to managing client assets 6:35 How O’Keefe [...]
Spin-off Links – November 2025 So far in 2025, there have been 11 new US spin-off announcements. Meanwhile 11 new spin-offs have started trading. Spin-offs have performed well in 2025, beating the S&P 500 by almost 200bps. Without further ado, let’s move on to the latest spin-off news…. Recent Spin-off Announcements Johnson & Johnson (JNJ) [...]
Podcast: Colin King and I Discuss NATL, AMVO, and SOLS During this episode of SSOI podcast, I spoke with Colin King of Circle City Capital. Colin runs Value Don’t Lie where he shares his highest conviction ideas. In this episode, Colin and I discuss NCR Atleos Corporation (NATL), Aumovio SE (AMVO), and Solstice (SOLS), Here’s what we discussed: 3:00 [...]
Podcast: An Under-the-Radar Japanese Spin-off Recently, I had the chance to discuss Hamee Corporation (TSE: 3134) with Evan Bleker of Event Driven Insights. Hamee Corporation will soon spin-off its high margin software business. In a nutshell, the setup looks interesting because: The company is 2 weeks away from breaking up into two separate companies [...]
Podcast: Cayucos Capital on Valterra Platinum On this episode of the Stock Spin-off Investing Podcast, I interview Dom St. George of Cayucos Capital. Dom has 15 years of experience investing in emerging markets. Today he shares his investment case on recent spin-off, Valterra Platinum. You can follow Dom on X here and subscribe to his substack [...]
Podcast: Talking Media Stock with Simeon McMillan (STRZ, LION, WBD) During this episode of SSOI podcast, I spoke with Simeon McMillan of Accrued Interest. Simeon is a Columbia Value Investing program trained special sits investor with a background in media operations. In other words, he is the perfect person to talk to about media [...]
Podcast: My "Dividend as a Catalyst" Playbook This podcast episode is a little different. It is just me recording (usually I have a guest!). Here's what I cover: 1:15 - What is the "Dividend as a Catalyst" Playbook 2:30 - Case Study #1 : Kontoor Brands (KTB) 6:20 - Case Study #2: Jackson Financial [...]
4 Spin-offs with Insider Buying One factor that I closely follow in the spin-off universe is insider buying. Here’s what Peter Lynch wrote about insiders and spin-offs in One Up on Wall Street: [Spin-offs] are a fertile area for amateur investors…….A month or two after the spinoff is completed, you can check to see if [...]
Spin-off Links - March 2025 So far in 2025, there have been 5 new US spin-off announcements. Meanwhile 3 new spin-offs have started trading. Spin-off stock performance was strong in 2024, but performance has turned over a bit in the last month. Without further ado, let’s move on to the latest spin-off news…. New Spin-off [...]
Christian Ryther of Curreen Capital Talks EHAB, MRP, HAVAS and More This week, I had the chance to talk to Christian Ryther of Curreen Capital. Christian starts off by sharing his experience at Columbia Business School in the Value Investing program, and also how he managed to finish second in a 100 mile race. [...]
Multiples Capital on MGM Resorts International (MGM) and Garrett Motion (GTX) Last week, I spoke to Ameya, the Founder of Multiples Capital. Ameya has become a good friend after we spent some time together at last year's Berkshire Hathaway annual meeting. His partnership is off to a great start. Since inception in 2022, Multiple Capital has generated [...]
Colin King of Circle City Group Capital Talks Building a $28MM Holding Co and Magnera (MAGN), a Recent Spin-off. Last week, I finally got to speak to Colin King of Circle City Capital Group. Colin and I have exchanged emails and DMs for years, and so I was really looking forward to our conversation. [...]
Derek Pilecki of Gator Capital Discusses His Approach to Investing in Financial Spin-offs I loved having the opportunity to talk to Derek Pilecki of Gator Capital about his approach to investing in spin-offs. Derek’s hedge fund has compounded at 20.99% since inception on July 1, 2008. You can request to receive his quarterly letters [...]
Kingdom Capital Talks Spin-offs (NLOP, CURB, and MAGN) and Street Hockey This week, I had the pleasure of interviewing David Bastian of Kingdom Capital on the Stock Spin-off Investing Podcast. David and his partner have generated 25.69% annualized returns since launching the fund ~3 years ago. And relied heavily on spin-offs and other special situations to [...]
3 Spin-offs that Will Benefit from a Trump Presidency If you are on Twitter/X, I’m sure you’ve seen the “election cheat sheets.” Here’s one from Wolfe Research: One theme that I didn’t see mentioned on many “cheat sheets” was Mergers and Acquisitions Federal Trade Commission Chair Lina Khan has been notoriously stingy about approving acquisitions. [...]
Talking Spin-offs with James Early Last week, I had the opportunity to talk spin-offs with James Early. Here's what we covered: 1:09: My quick autobiography and how I got interested in spin-offs 3:31: Difference between spin-offs, split-offs, and equity carve outs 6:36: How do you know a good spin-off from a bad one? 12:49: [...]
3 Spin-offs with Insider Buying One factor that I closely follow in the spin-off universe is insider buying. Here’s what Peter Lynch wrote about insiders and spin-offs in One Up on Wall Street: [Spin-offs] are a fertile area for amateur investors…….A month or two after the spinoff is completed, you can check to see if [...]
What’s the Big Deal? I’ve been a bit perplexed by the recent market decline…. Given I published an article last week titled Why the Small Cap Rally is Just Getting Started, you can safely assume that I did not see the market swoon coming. But it happened. Let’s step back to understand why the market [...]
How Mohnish Pabrai Made 30x his Money in Turkey Mohnish Pabrai is one of my favorite investors to follow. Not necessarily for his investing insights, but more because he’s a great story teller. I love listening to him talk about entrepreneurship, marketing, and psychology. He was recently interviewed on How I Made My First Million [...]
Is There an Opportunity in LSXMA?? In December ‘23, Liberty finalized a plan to merge Liberty Sirius tracking stocks with Sirius XM Holdings (SIRI). The merger was announced to collapse a ~39% discount that existed at the time between the various stocks. Under the terms of the agreement, Liberty Media's Liberty SiriusXM tracking stock group [...]
Off to Omaha I generally hate to travel for work. It’s exhausting, and I miss my kids. It also puts 100% of the child care burden on my lovely wife. So I generally don’t travel. But occasionally, I make an exception. This week is one of those exceptions. And I couldn’t be more excited. Tomorrow [...]
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 there was an “odd lot” arbitrage. In a nutshell, there was an opportunity to make a low risk $2k. The [...]
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 and/or investor relations. But sometimes, investor relations is hard to track down. Today, I’m going to walk through the specific [...]
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. Typically, no shares are available to borrow from my broker (Schwab) so shorting is challenging (maybe some brokers are better?). [...]