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 Background
7:28: What is Special Situation Investing?
11:38: What are the main challenges of investing in special situations?
15:24: Special situation investing has been around for 50 years. Why is it still underfollowed?
21:40: Which behavioral biases are relevant for spin-offs and special situation investing?
26:22: Many people say that if you know a catalyst, it’s already priced in. But that’s not usually the case in special situations. Why is that?
31:27: Why have spin-offs historically been great sources of opportunity?
37:17: Do you invest in spin-offs outside the U.S? What are some examples of profitable international spin-offs?
43:43: What book would you recommend (caveat: I couldn’t recommend any book written by Joel Greenblatt)?

Let me know what you think!