Introduction The aim of this article is to analyse the current CDS spread of France with respect to Germany, and propose a profitable strategy for betting on the convergence of the spreads. The article is going to provide a brief introduction on the topic of CDS, followed by a short Read more…
Market Recap 05-03-2017 United States Despite experiencing a downward correction towards the closing of the week, US equity indices reached new record levels. The Dow Jones Industrial Average reached a new record level by breaching the 21.000 mark. On Wednesday, it peaked at 21.115, to close the week at 21.005, Read more…
The Blackstone Group L.P. (NYSE: BX) – market cap as of 24/02/2017: $35.23bn Aon plc (NYSE: AON) – market cap as of 24/02/2017: $30.67bn Introduction On February 10, 2017, Blackstone agreed to acquire Aon’s employee benefits outsourcing unit for $4.8bn. Blackstone will pay $4.3bn in cash to Aon’s shareholders, and Read more…
Kraft Heinz Company (NASDAQ:KHC)—market cap as of 24/02/17: $112.79bn Unilever plc (LON:ULVR)—market cap as of 24/02/17: £112.08bn (€133.46bn) Introduction On February 17, 2017, it was reported that Kraft Heinz had made a £112bn ($143bn) takeover offer for the Anglo-Dutch conglomerate, Unilever. A deal would have created the world’s second largest Read more…
Restaurant Brands International Inc. (NYSE: QSR) – market cap as of 24/02/2017: $25.666bn Popeyes Louisiana Kitchen Inc. (NASDAQ: PLKI) – market cap as of 24/02/2017: $1.638bn Introduction On February 21, 2017, the multinational fast food company Restaurant Brands International (RBI) – parent company of Burger King – announced that it Read more…
United States Last week was a particular good one for American equities. Indeed, the Dow Jones Index scored four record high closures in a row, up 0.96% from last week’s close. Smaller gains were scored also by the S&P 500 (+0.69%) and the Nasdaq Composite (+0.12%). It is worth noting Read more…
Assicurazioni Generali: Business Snapshot Assicurazioni Generali SpA is an Italy-based insurance company. It is the largest Italian insurance company and the third in the world by revenues (net earned premiums of €68,507m for the most recent available FY 2015). It operates through two segments: Life (FY 2015 net earned premiums Read more…
The purpose of this article is to analyse the performance in the European markets – during the last five years – of two strategies that refer to two well-known market anomalies: the value and the size anomalies. Before looking at the results of our research, we will briefly discuss the Read more…
Bocconi Chinese Student Association and Bocconi Students Investment Club are happy to present you: China Talks- The Modern Silk Road: Chinese M&A in Europe Bocconi Chinese Student Association and Bocconi Students Investment Club are happy to present you: Guest Speaker Tommaso Lazzari Seta Capital Candice Yang Gianni, Origoni, Grippo, Cappelli Read more…
Reckitt Benckiser Group (LON: RB) – market cap as of 17/02/2017: $61.7bn (£49.71bn) Mead Johnson Nutrition Company (NYSE: MJN) – market cap as of 17/02/2017: $16.05bn Introduction On 10 February 2017, UK-based consumer goods multinational Reckitt Benckiser (RB) and US-based infant nutrition leader Mead Johnson reached an agreement by means Read more…
Introduction The aim of this article is to analyse the current price valuation of the biggest players in the gun manufacturing industry, trying to assess if they are correctly priced. We will begin with a brief overview of the recent past in the guns industry, followed by an extensive analysis Read more…
The concept of risk parity is not well-known among market participants. However, its resiliency to different market environment makes it a very interesting capital allocation strategy. It was first theorized in the sixties by Ray Dalio – founder of Bridgewater Associates – when he tried to find an answer to Read more…
United States On the week ended February 17, 2017, US stocks closed at record highs as investor sentiment remains positive given the possibility of changes to US corporate tax structure, as well as the likely loosening of regulations. The Dow Jones Industrial Average increased by 1.4% to 20,624, while the Read more…
SoftBank Group Corp (TYO:9984)—market cap as of 17/02/17: ¥88.84tn (€74.19bn) Fortress Investment Group LLC (NYSE:FIG)—market cap as of 17/02/17: $3.08bn Introduction On February 14, 2017, the Japanese conglomerate SoftBank Group Corp. announced the acquisition of Fortress Investment Group LLC for $3.3bn in cash. The deal represents a radical departure from Read more…
Allergan PLC (NYSE: AGN) – market cap as of 16/02/2017: $82.86bn Zeltiq Aesthetics Inc. (NASDAQ: ZLTQ) – market cap as of 16/02/2017: $2.23bn Introduction On February 13, 2017, the biopharmaceutical giant Allergan PLC announced that it entered into an agreement to purchase the medical technology company Zeltiq Aesthetics Inc. in Read more…