Here you can find our recommended sources to expand your knowledge on special situation investing.
Above all, we’ve found that a very efficient way to learn is by analyzing past/already closed cases. SSI offers several hundreds of different special situations, where you can see the clear and concise picture of the whole set up, thought process behind the thesis, further developments, and additional valuable feedback from the members. This sums up to an experience that can be hardly compared to any book or newsletter. Moreover, following the currently active cases allows you to participate and live-track the development of an idea, while also asking questions from our experienced team and members. In parallel, there are other sources that can back up the learning process, and provide, strengthen the necessary background sophistication.
– Joel Greenblatt’s book “You Can Be a Stock Market Genius. Uncover the Secret Hiding Places of Stock Market Profits”. This is basically a special situation investment bible, which offers insights into the most popular event-driven opportunities like – merger arbitrage, spin-off, liquidation, etc. Definitely worth checking out if you want to learn the basics and see the reasoning of the pioneer himself.
– Aswath Damodaran’s “Valuation” course at NYU Stern School of Business. The valuation side is an important, and sometimes quite a crucial part of investing in special situations. Mr. Damodaran is a worldwide acclaimed “valuation guru” and (in our opinion a brilliant professor with an engaging and entertaining teaching approach). His courses are available online for free.
– Guy Wiser-Pratte “Risk Arbitrage”. A great and detailed overview of merger arbitrage with some historical background as well.
– Alexander Tübke “Success Factors of Corporate Spin-Offs”. In-depth analysis of spin-offs and their success factors.
– Brian J Stark “Special Situation Investing: Hedging, Arbitrage, and Liquidation”. A good read from an experienced fund manager.