Unique Opportunities in Stub Security Arbitrage

The Bits & Pieces Report is a monthly arbitrage supplement that identifies opportunities that occur when substantial fluctuations in the value of a company’s public and private holdings create an undervalued “stub” security.  Given the signficant cross-ownership of companies in international markets, many published ideas will be focused on international companies.  Pronouned valuation discrepancies may provide a more efficient means to gain exposure to equities held by the parent, or may be exploited by the use of pair trades or similar strategies. These situations are highlighted and monitored on a continuous basis.