Spinoff to Payoff: An Analysis Guide to Investing in Corporate Divestitures [Hardcover]

Joseph W. Cornell (Author)

Book Description

ISBN-10: 0786312041 | ISBN-13: 978-0786312047 | Publication Date: August 1, 1997 | Edition: 1

Successful investors know: Even in today's ``efficient'' markets, hidden market inefficiencies do exist. Spinoff to Payoff shows you how to dramatically improve your portfolio's performance by capitalizing on little-known but increasingly popular corporate spin-off activities. More than theory and research, this amazing book brings you proven evidence and statistics of how a startling percentage of spin-offs have produced windfalls profits in the past. Actual case histories, coupled with spin-off expert Joseph Cornell's analysis and insights, fine-tune your ability to spot potentially lucrative spin-off opportunities. Cornell clarifies the complex universe of corporate spin-offs by telling you: 4 reasons spin-offs are often misvalued by the market. . .and how you can use each of these reasons to isolate the spin-offs with the greatest upside potential; Specific strategies for locking in spin-off gains. . .When to buy, when to sell, and generally ignored market signs that let you buy and sell for added profits again and again; 10 likely spin-off candidates. . .Companies to keep your eye on--unique situations mark each as a good candidate to launch a spin-off; 25 pending spin-offs. . .Through spin-offs were already announced, there still is time to apply strategies learned in this book to land quick-strike trading profits. With spin-off activity up well over 50-fold within the past ten years, this exciting strategy shows every sign of becoming an even greater source of profits as we head toward the 21st Century. Spinoff to Payoff is packed with detailed examples and guideposts to help you determine which spin-offs will create undervalued corporations, then actions you can take to profit from temporary market inefficiencies before the rest of the investment community catches on.

Editorial Reviews

About the Author

Joseph W. Cornell is a principal of High Yield Analytics, Inc., a Chicago based investment boutique that caters to institutional investors. He is a well-known authority on spin-off investing strategies. Cornell holds a B.B.A. and MBA from Loyola University of Chicago.

Product Details

• Hardcover: 201 pages
• Publisher: McGraw-Hill; 1 edition (August 1, 1997)
• Language: English
• ISBN-10: 0786312041
• ISBN-13: 978-0786312047
• Product Dimensions: 9.1 x 6.3 x 0.9 inches
• Shipping Weight: 15.2 ounces
• Average Customer Review: 3.7 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #1,854,158 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

27 of 28 people found the following review helpful:

2.0 out of 5 stars This book falls _way_ short of its promises., January 17, 1998

By 

Bob Dole - See all my reviews

This review is from: Spinoff to Payoff: An Analysis Guide to Investing in Corporate Divestitures (Hardcover)

Although the initial discussion of spinoffs was ok, the 90 or so "case histories" are useless. Each one is about a paragraph in length, and merely describes the terms of the spinoff, with _no_ commentary whatsoever. The book will give you an idea of which types of spinoffs are worth further investigation, but it does not teach you how to analyze these situations further. However, there is a shameless advertisement for the author's spinoff newsletter at the end of the book. Tsk, tsk...

If you're interested in this type of investing, I would highly recommend Joel Greenblatt's "You Can Be a Stock Market Genius", which manages to go into further depth in about 10% of the space - and at half the price!

3 of 9 people found the following review helpful:

5.0 out of 5 stars Excellent primer on how to make money on spin-off situations, October 8, 1999

By 

A Customer - See all my reviews

This review is from: Spinoff to Payoff: An Analysis Guide to Investing in Corporate Divestitures (Hardcover)

A good guide on investing in an inherantly inefficient area of the equity market. Recently, McKinsey published a study on corporate spinoffs, suggesting that spin-offs returned an average of 27% in the first two years of independance versus 17% for the S&P 500 Index over a recent 10 year period.

This book will help you take advantage of the dislocation often observed in spin-offs. A good investment for the serious investor.

2 of 12 people found the following review helpful:

4.0 out of 5 stars If you want to make some serious money read 'Spinoff', November 22, 1998

By 

Tom (Chicago, IL) - See all my reviews

This review is from: Spinoff to Payoff: An Analysis Guide to Investing in Corporate Divestitures (Hardcover)

If you are looking for a great novel I suggest you read Gone With The Wind. If you are looking for a treatise on Martin Luther King Jr. I suggest you read Bearing The Cross. If you are looking for an additional prespective on how to make some serious money I would suggest you read Spinoff.

Mr. Cornell probably will not win the nobel prize for Spinoff, but if you want an alternative to making some very serious money put you current investment thinking on hold and read Spinoff.