Download PDF Introduction As already discussed at length in the part I of this series of articles, antitrust authorities and their applicable laws have a huge impact in determining the success or failure of an M&A deal. Nowadays, this is particularly important, given a toughened regulatory environment worldwide. From the Read more…
Download PDF Introduction What happens in option markets strongly influences the behavior of the underlying asset. In this article, we review the evidence and academic research on the dynamic relation between market makers’ gamma exposure and the price process of the underlying assets, specifically in terms of intraday volatility and Read more…
Download PDF Introduction to Activism and Climate Activism Activist investing in the broad sense is the act of a shareholder using his equity stake in a corporation to push through change at the firm. This type of investing can also apply to other assets, such as defaulted Government bonds, but Read more…
Download PDF Introduction In June 2021, the Blackstone Real Estate Income Trust (BREIT) announced the acquisition of Home Partners of America, valuing the company at $6bn. Home Partners of America is a Chicago-based real estate firm that focuses on single-family rental housing with a portfolio of 17.000 homes. A similar Read more…
Download PDF USA This Monday was Presidents day in the United States, therefore markets only opened on Tuesday for what would turn out to be an eventful week. In general all major US indices are up with health and communication services leading the pack and consumer discretionary underperforming. The S&P Read more…
Download PDF Introduction Antitrust legislation aims to break up monopolies or prevent them from forming in the first place. Its goal is to defend small enterprises from unscrupulous methods while also protecting the general public by assuring better prices through competition. In most countries around the world, laws exist to Read more…
Download PDF Recently, there has been a slew of deals in the commercial real estate sector, with Blackstone being the most notable player. However, before analysing the reasoning behind these developments it is necessary to first understand the workings of the real estate private equity industry in its current form. Read more…
Download PDF Healthcare. The healthcare sector has gained increasing importance over the last few years, because of the impact that the covid outbreak had on everyone’s life. The healthcare industry is one of the world’s largest and fastest-growing industries, ranking as the fifth-largest sector in the world economy, accounting for Read more…
Download PDF The risk-free rate is a very wide-spread concept and fundamental for various topics in finance, most notably corporate valuation and derivatives pricing. Often however, not much thought is given to what a risk-free asset is and what rate to use. This article will dive deeper into the theoretical Read more…
Download PDF Time of writing: Thursday 24, February 2022 Introduction On Thursday, Russia launched a massive attack on Ukraine, spurring talks that an armed conflict might be about to start in eastern Europe. In this article, we pitch a directional global macro trade based on the currently unfolding scenarios, after Read more…
Download PDF Investors tend to overgeneralize about bear markets and speak of them as if they were a homogenous group in which experiences have been largely similar. The triggers, timing and profile of recovery vary significantly, and bear markets come in many shapes and sizes. That said, despite the differences Read more…
Download PDF In this inaugural series of articles we will cover the basics and key trends of both major and lesser known industries to help the reader navigate the increasing complexity of the finance world. We will start with an overview of the broader industry and dig deeper to understand Read more…
Download PDF Sony’s acquisition of Bungie Less than 15 days after Microsoft dropped the news of an imminent $75bn acquisition of Activision Blizzard, tech giant and main Microsoft competitor Sony announced on the 31st of January its plan to acquire video game developer Bungie for $3.6bn. While the two deals Read more…
Download PDF Introduction One of the most basic tools used by traders to manage risk is a simple order given to a machine, the stop-loss order. Despite being accessible to all retail traders through their online brokers, it is often neglected or misused. In the first part of this article Read more…
Download PDF USA Equities markets dropped for a second consecutive week following continued angst of a Russian invasion of Ukraine. Shelling in the border region prompted fears that Russia was fishing for a pretext for war and was exacerbated by U.S. President Joe Biden’s remarks that he is convinced that Read more…