Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

After graduating from Trinity College in Connecticut, I joined Eaton Vance full-time as an equity research associate. While at Eaton Vance, I completed the Chartered Financial Analyst program and earned the CFA designation. In 2013, I left Eaton Vance to join Citi Private Bank to work in the private equity research group.

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

Event-Driven

<ul>
<li>
Some of my favorite setups are stocks that are cheap on both an absolute and sum-of-the-parts (SOTP) basis.
</li>
<li>
Ziff Davis fits that profile well. At ~3.7× EBITDA and ~5× free cash flow, the stock is clearly cheap on an absolute basis.
</li>
<li>
On a SOTP basis, one can reasonably argue the stock is worth 50% to 100% more than where it currently trades.
</li>
</ul>



Some of my favorite setups are stocks that are cheap on both an absolute and sum-of-the-parts (SOTP) basis.


Ziff Davis fits that profile well. At ~3.7× EBITDA and ~5× free cash flow, the stock is clearly cheap on an absolute basis.


On a SOTP basis, one can reasonably argue the stock is worth 50% to 100% more than where it currently trades.



Ziff Davis

[アラート] Ziff Davis を購入