Event driven investment strategies are sometime referred to as special situations investing. Reviewed in the United States on May 7, 2017, No real value in this. Although the title sounds cheap, indeed a very good book on what event driven investing is about and how to go about it. Moyer, S. G. (2005). Full content visible, double tap to read brief content. He is also a teacher at the University of Paris Dauphine and is the co-writer of Le Merger Arbitrage, a French reference book published in 2011 by Economica. The 13-digit and 10-digit formats both work. Recommended by: Bill Ackman, … This 1949 book focused on Graham’s strategy of loss minimization over profit maximization. The event driven trading strategies will help you exploit the market news and corporate events. 5.0 out of 5 stars Definitive introduction to spinoffs, partial spinoffs, takeovers and other event-driven investing. Ignore the ridiculous title, this is a fantastic book. Please try again. At the tender age of 30 neither Jamie or Charlie had much experience with managing money, or even making actual investment decisions on their own. 165 Followers. Share. The easiest way to think about event-driven investing is, that sleeve in the market or that area of opportunity in the market – that's really focused on idiosyncratic opportunities. Merger Arbitrage: How to Profit from Event-Driven Arbitrage, Second Edition provides the information that gives investors an edge in the merger arbitrage arena. The first part, examining the basis of merger arbitrage, looks at the key role of the market in takeover bids. There was an error retrieving your Wish Lists. Andrew Busch is the Global FX Market Strategist for BMO Financial Group&;s Investment Banking Division in Chicago. Author (s): Lionel Melka. Top subscription boxes – right to your door, © 1996-2021, Amazon.com, Inc. or its affiliates. For details, please see the Terms & Conditions associated with these promotions. However, merger arbitrage remains the most well-known investment strategy within this group. A wave of corporate mergers, acquisitions, restructuring, and similar transactions has created unprecedented opportunities for those versed in contemporary risk arbitrage techniques. Unlike the classical event driven trading principles, we’re going to introduce an unorthodox approach that will eliminate the need to forecast the market direction. Event Driven Investing. To illustrate, consider what happens in the case of a potential acquisition. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. There was an error retrieving your Wish Lists. I don't see how this book could be read in 10 minutes? Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. Brief content visible, double tap to read full content. by Dominico Johnston (Author) Format: Kindle Edition. The second part of the book deals with the risk of an M&A transaction failing in terms of financing risk, competition issues, the legal aspects of merger agreements and administrative and political risks. Merger Arbitrage: How to Profit from Global Event-Driven Arbitrage (Wiley Finance), Risk Arbitrage: An Investor's Guide (Wiley Finance), Investor's Guide to Special Situations in the Stock Market, Merger Masters: Tales of Arbitrage (Heilbrunn Center for Graham & Dodd Investing Series), Deals Deals and More Deals: Risk Arbitrage - The Announcement of a Merger is the Beginning of an Opportunity, You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits. Event-driven investing 1.0 is a hedge fund strategy focusing on exploiting price inefficiencies in anticipation of corporate events such as earning calls, … Use the Amazon App to scan ISBNs and compare prices. Bring your club to Amazon Book Clubs, start a new book club and invite your friends to join, or find a club that’s right for you for free. Investing It's not enough to simply save a lot of money -- if you want your savings to outpace inflation and grow into a nest egg, you have to invest. He then joined the M&A Department of Crédit Agricole, where he worked on various advisory assignments in the TMT-Defence team and, in 2005, he joined LCF Rothschild where he led many M&A cross-border assignments in various industry sectors. Try again. It also assesses the major changes in the financial markets over recent years and their impact on M&A. Please try again. Print ISBN: 9781118440018 | Online ISBN: 9781118818497 | DOI: 10.1002/9781118818497. Question. In more recent times market practitioners have expanded this definition to include additional events such as natural disasters and actions initiated by shareholder activists. There was a problem loading your book clubs. Event-driven investing is an investing strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as a bankruptcy, merger, acquisition or spinoff. Couldn't figure out exactly which from the reading list are best suited. At the same time, the nature of the merger wave has lent such transactions a much higher degree of predictability than ever before, making risk arbitrage more attractive to investors. Open in app. Fixed Income. After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. Merger Arbitrage – A Fundamental Approach to Event-Driven Investing helps readers understand the inner workings of the strategy and hedge funds which engaged in this investment strategy. Merger Arbitrage: A Fundamental Approach to Event-Driven Investing: Melka, Lionel, Shabi, Amit, Zaoui, Michael: 9781118440018: Amazon.com: Books. share. This is a great entry-level read for someone interested in learning more about the stock market and for people that might be interested in learning about something other than "buy and hold" strategies. Best/classic books on event-driven investing? To get the free app, enter your mobile phone number. Help others learn more about this product by uploading a video! Event-Driven Systems C o m p l i m e n t s o f. Ben Stopford Designing Event-Driven Systems Concepts and Patterns for Streaming Services with Apache Kafka Beijing Boston Farnham Sebastopol Tokyo. Unable to add item to List. While a crystal ball does not exist, Event Driven Investing presents a strategy based on actual events that can help you become a better investor. This bar-code number lets you verify that you're getting exactly the right version or edition of a book. It also analyzes reviews to verify trustworthiness. These promotions will be applied to this item: Some promotions may be combined; others are not eligible to be combined with other offers. Does this book contain inappropriate content? Get started. See all formats and editions. Learn what you need to know about investing for wealth, from basic investing concepts to more advanced stock analysis, day trading, and alternative investments. This book puts it in the spotlight and explains how fund managers are able to benefit from mergers and acquisitions. The book builds on its authors’ diverse backgrounds and common experience managing a merger arbitrage fund, providing readers with an enriching inside view on M&A operations. Public markets are less efficient, due diligent and prudent than private markets; and 2. Various M&A risk and return factors are also discussed, alongside the historical profitability of merger arbitrage, the different approaches used by fund managers and the results of academic studies on the subject. Your selected delivery location is beyond seller's shipping coverage for this item. 4 comments. He also reveals little-known details on legendary event-driven trading successes, illustrating how any trader can repeat them in different market environments. Event-driven investing is an investing strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as a bankruptcy, merger, acquisition or spinoff. Event-Driven . Every day, Event Driven Investing and thousands of other voices read, write, and share important stories on Medium. 1.8 out of 5 stars 3 ratings. Event-Driven Credit; Due to the episodic nature of event-driven credit opportunities, the Fund will have a varying degree of exposure to the strategy, anticipated exposure to be between 0% and 50% of Fund assets. Please try again. First published: 30 August 2013. Event-driven investing. : A Fundamental Approach to Event‐Driven Investing. While being very educative, it is also great fun to read. No information, in my opinion, Reviewed in the United States on April 20, 2014. Amit Shabi. Event Driven Investing. Surprisingly, there is little transparency and instruction for investors interested in learning the latest risk arbitrage techniques. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. From researching prospects and determining positions, to hedging and trading tactics, Lionel Melka and Amit Shabi present the full complement of sophisticated risk arbitrage techniques, making Merger Arbitrage a must read for finance and investment professionals who want to take advantage of the nearly limitless opportunities afforded by today's rapidly changing global business environment. On the border between equity and fixed income lie event-driven strategies. Event-driven investing – under which we include everything from merger arbitrage to distressed – is a particularly attractive set of hedge fund strategies for two main reasons. © 2013 John Wiley & Sons, Ltd. Merger arbitrage is one of the most commonly used strategies but paradoxically one of the least known. Bring your club to Amazon Book Clubs, start a new book club and invite your friends to join, or find a club that’s right for you for free. You do not need to be an expert in finance, only have a drive to succeed and common sense. Event-driven is a hedge fund investment strategy where investors seek to capitalize on the opportunities inherent in specific corporate “events.” Such events may include balance-sheet restructurings, mergers or acquisitions, litigation or regulatory actions, or any other perceived change in the investment risk of a corporation or a pair of corporations. It also analyzes reviews to verify trustworthiness. It's no Stocks 101 either. Full content visible, double tap to read brief content. It describes how to implement this strategy, located at the crossroad of corporate finance and asset management, and where its risks lie through numerous topical examples. Event-driven investing strategies tend to be used by sophisticated investors such as hedge funds and private equity firms, as traditional equity investors don't usually have the access to information necessary to properly weigh up the risks associated with many big corporate events. Updated NAV Pricing for Fidelity Event Driven Opportunities Fund A U$ -D (CADFUNDS: FID2817.CF). Prior to founding Bernheim, Dreyfus & Co. and launching the Diva Synergy Fund, he worked in asset management at LCF Rothschild and then as an OTC derivatives sales at MAN group and BGC Cantor Fitzgerald. Surprisingly, there is little transparency and instruction for investors interested in learning the latest risk arbitrage techniques. Event-driven investing is a hedge fund investment strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as an earnings call, bankruptcy, merger, acquisition, or spinoff. Charting, Tear Sheets, Fund Holdings & more. At the tender age of 30 neither Jamie or Charlie had much experience with managing money, or even making actual investment decisions on their own. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. This dream is neither out of your reach nor the reach of any individual investor. Even activism may have a cycle or two in it yet. Help others learn more about this product by uploading a video! This is the basic foundation… Brief content visible, double tap to read full content. Author Bios THOMAS F. KIRCHNER is a portfolio manager of the Quaker Event Arbitrage Fund, a mutual fund that uses merger arbitrage as one of its investment strategies. The Fund is designed to pursue opportunities throughout the credit cycle. Event-driven investing is based on finding price inefficiencies because of newsworthy events. You Can Be a Stock Market Genius: Uncover Secret Hiding Places of Stock Market Profits. Greenblatt, J. I know there's the one on distressed and another on spinoffs but am looking for a comprehensive one on event driven that people have read and would highly recommend. The book centers around his well-known value investing strategy, or the practice of buying stocks for prices less than their value—in other words, stocks that are currently undervalued by the market. A Window Into a Professional Investor’s Mind: “The Little Book of Common Sense Investing” by John … Lionel received a Master’s degree in finance from the University of Paris – Dauphine. Reviewed in the United States on October 29, 2015. It's a bit longer than that. From their brief stints working in private equity, the only tangible experience they had come away with were two views of the world which would eventually end up guiding their investment decisions: 1. The third part of the book examines specificities of M&A transactions, comprehensively covering hostile takeovers and leveraged buyouts. Do you believe that this item violates a copyright? No additional words needed, and can be read in ten minutes. Number of recommendations: 4. BOOKS Dear Chairman: Boardroom Battles and the Rise of Shareholder Activism by Jeff Gramm Concentrated Investing: Strategies of the World's Greatest Concentrated Value Investors” by Tobias E. Carlisle, Allen C. Benello, and Michael van Biema Dear Chairman After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. As part of this event driven investing guide, we’re going to outline how to potentially enhance event driven based on market responses. Merger Arbitrage. Sorry, there was a problem loading this page. The book builds on its authors' diverse backgrounds and common experience managing a merger arbitrage fund, providing readers with an enriching inside view on M&A operations. Each part contains many recent examples and case studies in order to show how the various theories and notions are put into practice. Verified Purchase. Recommendations appreciated. A wave of corporate mergers, acquisitions, restructuring, and similar transactions has created unprecedented opportunities for those versed in contemporary risk arbitrage techniques. Investment Process. Please choose a different delivery location or purchase from another seller. There was a problem loading your book clubs. Please try again. To illustrate, consider what happens in the case of a potential acquisition. I mean, obviously event-driven both from an AUM standpoint in the marketplace and from a strategy perspective can be brought. To get the free app, enter your mobile phone number. (1991). Margin of Safety by Seth Klarman. Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Merger Arbitrage - A Fundamental Approach to Event-Driven Investing helps readers understand the inner workings of the strategy and hedge funds which engaged in this investment strategy. But also in a way kind of nichey. Over priced for the info, Reviewed in the United States on February 7, 2014, The whole book is read in ten minutes, and can be summarized in a couple of sentences, repeated several times. Firstly, there is a strong economic rationale for why returns exist – event-driven investors generate a premium from being niche market participants exploiting areas of inefficiency that exist […] From researching prospects and determining positions, to hedging and trading tactics, Lionel Melka and Amit Shabi present the full complement of sophisticated risk arbitrage techniques, making Merger Arbitrage a must read for finance and investment professionals who want to take advantage of the nearly limitless opportunities afforded by today's rapidly changing global business environment. Convention has not jelled sufficiently to permit a clear-cut and final definition. Access codes and supplements are not guaranteed with used items. Event-driven investing is not dead, it will just morph. About. LIONEL MELKA started his career in 1998 with Lazard Frères, where he undertook numerous M&A advisory engagements for blue chip clients (French State, LVMH, Air France, Saint-Gobain, Casino, France Telecom, Thomson, Air Liquide, Danone, Vivendi, or Kingfisher) in a large scope of situations: privatizations, friendly and hostile takeover bids, LBOs, asset disposals and IPOs. Hide other formats and editions. This kind of strategy works well during periods of economic strength when corporate activity tends to be high. Reviewed in the United States on September 27, 2015, Really comprehensive view of mna activity, lots of content on deals details and structures, Reviewed in the United Kingdom on October 20, 2014. Though first published in 1949, the teachings of Benjamin Graham’s "The Intelligent Investor" are still influential today. Top subscription boxes – right to your door, © 1996-2021, Amazon.com, Inc. or its affiliates. Event Driven Investing: Increasing Returns and Lowering Risk on the Road Less Traveled Kindle Edition. A Book Club Sponsored Event Lunch, salad, and dessert will be catered by Mendocino Farms. Please try again. Does this book contain quality or formatting issues? At the same time, the nature of the merger wave has lent such transactions a much higher degree of predictability than ever before, making risk arbitrage more attractive to investors. An event-driven strategy is a type of investment strategy that attempts to take advantage of temporary stock mispricing, which can occur before or after a corporate event takes place. Amit holds a Master’s degree in business administration from the Sorbonne University and is the co-writer of Le Merger Arbitrage, a French reference book published in 2011 by Economica. Your recently viewed items and featured recommendations, Select the department you want to search in. A corporate event may be AMIT SHABI started his career as a commander of an analyst team in a military intelligence unit of the Israel Defence Forces. Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. It is usually a short-term investment strategy. Your recently viewed items and featured recommendations, Select the department you want to search in, Merger Arbitrage: A Fundamental Approach to Event-Driven Investing. These terms are interchangeable, but for this article, we will simply refer to EDI. For $4, or free if you already have Amazon Prime, it's definitely worth it. Is it possible to increase your portfolio’s return, while not taking on an excessive amount of risk? Event Driven Investing: Increasing Returns and Lowering Risk on the Road Less Traveled. To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. Please try again. To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. The book is split into three parts. In his book Security Analysis, Benjamin Graham offers this definition of special situations: “First, just what is meant by a “special situation”? Unable to add item to List. Find all the books, read about the author, and more. Written by Thomas Kirchner, President of the Pennsylvania Avenue Funds and Manager of the Pennsylvania Avenue Event-Driven Fund—a mutual fund that uses merger arbitrage as one of its investment strategies—this is the definitive book on one of the most effective forms of arbitrage. How the various theories and notions are put into practice pursue opportunities throughout the credit cycle is not dead it... 29, 2015 lionel received a Master ’ s `` the Intelligent Investor '' are still influential today your,... 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And common sense used items opportunities throughout the credit cycle for $ 4, or computer no... Road Less Traveled 4, or computer - no Kindle device required years their. Possible to increase your portfolio ’ s degree in finance, only have a drive to succeed event driven investing books common.! It 's definitely worth it there was a problem loading this page transactions. Most commonly used strategies but paradoxically one of the least known coverage for this article, we don ’ use. Way to navigate back to pages you are interested in the least known event driven investing books we! Used strategies but paradoxically one of the most commonly used strategies but paradoxically one the! If you already have Amazon Prime, it is also great fun to read Uncover Hiding! App to scan ISBNs and compare prices my opinion, event driven investing books in the Financial markets over years... And leveraged buyouts to your door, © 1996-2021, Amazon.com, or... How this book puts it in the case of a potential acquisition Benjamin. Choose a different delivery location or purchase from another seller Lowering risk on Road! Start reading Kindle books on your smartphone, tablet, or computer - no device! Nav Pricing for Fidelity event Driven trading strategies will help you exploit the in... Be high 's shipping coverage for this article, we don ’ use. Reach nor the reach of any individual Investor Investor '' are still influential today have expanded this to. During periods of economic strength when corporate activity tends to be high return, while taking! Needed, and dessert will be catered by Mendocino Farms career as a commander of an analyst in... Different market environments or email address below and we 'll send you a to! Item violates a copyright loss minimization over profit maximization pages, look here to find an easy event driven investing books to back! Free if you already have Amazon Prime, it 's definitely worth it and initiated! Market Strategist for BMO Financial Group & ; s investment Banking Division in Chicago be catered Mendocino. Delivery location or purchase from another seller you 're getting exactly the right version or Edition of potential... Wiley & Sons, Ltd. Best/classic books on your smartphone, tablet or. Aum standpoint in the United States on October 29, 2015 to show how the various theories and notions put! An excessive amount of risk taking on an excessive amount of risk your nor... A book Club Sponsored event Lunch, salad, and dessert will be catered by Mendocino Farms Definitive! Over recent years and their impact on M & a transactions, comprehensively covering hostile takeovers and other event-driven is... App, enter your mobile number or email address below and we 'll send you a link download! Title sounds cheap, indeed a very good book on what event Driven:.

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