Risk Arbitrage (eBook)

An Investor's Guide

(Autor)

eBook Download: EPUB
2018 | 2. Auflage
368 Seiten
John Wiley & Sons (Verlag)
978-1-118-23385-6 (ISBN)

Lese- und Medienproben

Risk Arbitrage - Keith M. Moore
Systemvoraussetzungen
60,99 inkl. MwSt
  • Download sofort lieferbar
  • Zahlungsarten anzeigen
The definitive guide to risk arbitrage, fully updated with new laws, cases, and techniques

Risk Arbitrage is the definitive guide to the field and features a comprehensive overview of the theory, techniques, and tools that traders and risk managers need to be effective. This new edition is completely updated and fully revised to reflect the changes to laws and technology and includes new case studies and a detailed discussion of computer-based trading systems. Readers gain deep insight into the factors and policies that affect merger transactions, and the new developments that allow individuals to compete with professionals in managing risk arbitrage portfolios. The book provides techniques for computing spreads and determining risk, with practice exercises that allow readers to become confident with new methods before using them professionally.

The current wave of corporate mergers, acquisitions, restructurings, and similar transactions has created unprecedented opportunities for those versed in contemporary risk arbitrage techniques. At the same time, the nature of the current merger wave has lent such transactions a much higher degree of predictability than ever before, making risk arbitrage more attractive to all types of investors. Risk Arbitrage provides the essential guidance needed to participate in the business.

* Get up to date on the most recent developments in risk arbitrage

* Examine new mergers and the legal changes that affect them

* Learn how computers and trading systems have affected competition

* Use the tools that enable risk determination and spread computation

Both the growth in hedge funds and the changing nature of the merger and acquisition business have affected risk arbitrage processes and techniques. For the finance professional who needs expert guidance and the latest information, Risk Arbitrage is a comprehensive guide.

KEITH M. MOORE heads up FBN Securities Event-Driven group. Prior to joining FBN Securities, Keith served as Kellner DiLeo & Company's Co-Chief Investment Officer, Portfolio Manager of the KDC Merger Arbitrage Fund and Director of Risk Management. In addition to being the author of Risk Arbitrage: An Investor's Guide, he has authored the Mergers & Acquisitions chapter for Corporate Finance, published by the CFA Institute as well as a number of academic journal articles. Keith's arbitrage career spans research, trading and portfolio management at Neuberger & Berman (1975-1983 and 1989-1996), Donaldson Lufkin & Jenrette (1983-1989) and Jupiter Capital (1997-2006). A former Assistant Professor of economics and finance at St. John's University and Adjunct Professor at the University of Rhode Island and New York University, Keith has earned numerous academic awards and honors. He holds a BS and a PhD from the University of Rhode Island and an MBA from New York University.

About the Author xi

CHAPTER 1

Introduction 1

CHAPTER 2

What Is Risk Arbitrage? 9

CHAPTER 3

The Risk Arbitrage Industry 27

CHAPTER 4

Estimating the Return on a Risk Arbitrage Position 33

CHAPTER 5

Estimating the Risk of Arbitrage Transactions 61

CHAPTER 6

Estimating the Probability of a Transaction's Occurrence 83

CHAPTER 7

The Risk Arbitrage Decision Process 107

CHAPTER 8

Hostile Takeovers 117

CHAPTER 9

Trading Tactics 149

CHAPTER 10

Portfolio Management 173

CHAPTER 11

The Exciting World of Risk Arbitrage 201

APPENDIX A: Tender Offer Document 215

APPENDIX B: Airgas/Air Products--Text of Court Decision 281

APPENDIX C: Whole Foods Markets--Excerpts from Proxy Statement 291

APPENDIX D: Straight Path Communications--Excerpts from Proxy Statement 299

APPENDIX E: Straight Path Communications--Excerpts from STRP's 8-K Filed on April 13, 2017 329

Acknowledgments 337

Index 339

Erscheint lt. Verlag 4.4.2018
Reihe/Serie Wiley Finance Editions
Wiley Finance Editions
Sprache englisch
Themenwelt Recht / Steuern Wirtschaftsrecht
Wirtschaft Betriebswirtschaft / Management Finanzierung
Schlagworte Finance & Investments • Finanz- u. Anlagewesen • Institutional & Corporate Finance • Institutionelle Finanzplanung
ISBN-10 1-118-23385-9 / 1118233859
ISBN-13 978-1-118-23385-6 / 9781118233856
Haben Sie eine Frage zum Produkt?
EPUBEPUB (Adobe DRM)
Größe: 4,9 MB

Kopierschutz: Adobe-DRM
Adobe-DRM ist ein Kopierschutz, der das eBook vor Mißbrauch schützen soll. Dabei wird das eBook bereits beim Download auf Ihre persönliche Adobe-ID autorisiert. Lesen können Sie das eBook dann nur auf den Geräten, welche ebenfalls auf Ihre Adobe-ID registriert sind.
Details zum Adobe-DRM

Dateiformat: EPUB (Electronic Publication)
EPUB ist ein offener Standard für eBooks und eignet sich besonders zur Darstellung von Belle­tristik und Sach­büchern. Der Fließ­text wird dynamisch an die Display- und Schrift­größe ange­passt. Auch für mobile Lese­geräte ist EPUB daher gut geeignet.

Systemvoraussetzungen:
PC/Mac: Mit einem PC oder Mac können Sie dieses eBook lesen. Sie benötigen eine Adobe-ID und die Software Adobe Digital Editions (kostenlos). Von der Benutzung der OverDrive Media Console raten wir Ihnen ab. Erfahrungsgemäß treten hier gehäuft Probleme mit dem Adobe DRM auf.
eReader: Dieses eBook kann mit (fast) allen eBook-Readern gelesen werden. Mit dem amazon-Kindle ist es aber nicht kompatibel.
Smartphone/Tablet: Egal ob Apple oder Android, dieses eBook können Sie lesen. Sie benötigen eine Adobe-ID sowie eine kostenlose App.
Geräteliste und zusätzliche Hinweise

Buying eBooks from abroad
For tax law reasons we can sell eBooks just within Germany and Switzerland. Regrettably we cannot fulfill eBook-orders from other countries.

Mehr entdecken
aus dem Bereich
Grundlagen, Beispiele, Übungsaufgaben mit Musterlösungen

von Alexander Burger

eBook Download (2024)
Vahlen (Verlag)
19,99