Thursday 2nd February 2023 I recently wrote up a buy thesis on Activision Blizzard highlighting the reasons why I thought Microsoft would likely close its acquisition of it by September. Microsoft (the acquirer) has said they would buy out all shares in Activision Blizzard (the target) using cash for $68.7bn, or $95 per share. IContinue reading “Key risks to monitor in merger-arb investments”
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High returns mainly come from low P/E stocks… but it’s mainly because there are more of them
Thursday 5th January 2023 Over the past two decades, stocks with a price-to-earnings ratio of less than 30x have represented about 80% of all stocks with a market cap over $1bn. It is for this reason that about 80% of stocks that generate five-year compounded returns of over 10% have been stocks that started outContinue reading “High returns mainly come from low P/E stocks… but it’s mainly because there are more of them”
The Equity Analyst 