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Merger Arbitrage: How to Profit from Event-Driven

Merger Arbitrage: How to Profit from Event-Driven Arbitrage. Thomas Kirchner

Merger Arbitrage: How to Profit from Event-Driven Arbitrage


Merger.Arbitrage.How.to.Profit.from.Event.Driven.Arbitrage.pdf
ISBN: 0470371978, | 370 pages | 10 Mb


Download Merger Arbitrage: How to Profit from Event-Driven Arbitrage



Merger Arbitrage: How to Profit from Event-Driven Arbitrage Thomas Kirchner
Publisher: Wiley




There are opportunities to profit from this growth in acquisition activity. The SOGAsia fund is an Asia including Japan, multi-strategy arbitrage fund. The SOGAsia Fund was It is commonly viewed that arbitrage strategies have to leverage up to the high single digits in order to make money off some very small spreads. However, merger arbitrage works best over several different deals and opportunities, requiring heavy capital constraints making it pretty inaccessible for most retail investors. These banks benefit from the growth of the hedge fund industry as prime brokers make money on the interest they charge for debt financing and trading fees. He currently runs two hedge funds, the SOG Fund (global multi-strategy arbitrage) and SOGAsia. Written by a fund manager who invests solely in merger arbitrage, also referred to as risk arbitrage, and other event-driven strategies, Merger Arbitrage is the definitive book on how this alternative hedge fund strategy works. Let's say A merger arbitrageur might buy Circuit City shares, and short Blockbuster shares, hoping to profit from the eventual convergence of these values. Staying Market Neutral As investors crave more advanced The underlying index is rebalanced every five days, rather than monthly or quarterly, allowing for the fund to capture these event driven gains. It employs structure arbitrage, closed-end fund arbitrage, pair trading, merger arbitrage and event driven strategies. 2) Event-Driven 3) Directional In event-driven hedge funds, managers look for stocks trading at discounts due to unusual circumstances. Focusing on identifying company specific catalysts such the addition or deletion of a stock from an index, the start-up of a new mine or a merger arbitrage opportunity provides a great way to maximize non-correlated long term investment returns while minimizing risk. Thomas Kirchner – Merger Arbitrage How to Profit from Event-Driven Arbitrage Thomas R. Here's an example of merger arbitrage. Once or twice every decade, M&A markets go through a bust and returns of merger arbitrage and event-driven funds slip. Convertible Arbitrage consists of hedge investing in convertible usually, being simultaneously long and short within the same sector, industry, capitalization, country, etc; Event-Driven consists of exploiting the price movement generated by a corporate event related to distressed stocks, mergers, takeovers, news, etc. Such circumstances can include merger arbitrage, distressed securities, and private placements.

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