Event-driven investing (original) (raw)

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dbo:abstract Event-driven investing or Event-driven trading is a hedge fund investment strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as an earnings call, bankruptcy, merger, acquisition, or spinoff. In more recent times market practitioners have expanded this definition to include additional events such as natural disasters and actions initiated by shareholder activists. However, merger arbitrage remains the best-known investment strategy within this group. Event-driven investing strategies are typically used only by sophisticated investors, such as hedge funds and private-equity firms. That’s because traditional equity investors, including managers of equity mutual funds, do not have the expertise or access to information necessary to properly analyze the risks associated with many of these corporate events. This strategy was successfully utilized by Cornwall Capital and profiled in "The Big Short" by Michael Lewis. (en) 事件驱动型投资或事件驱动型交易是一种避險基金投资策略,目的是利用在公司事件發生前後的潛在市場定價無效率的情况,比如說季財報電話會議,破產時的不良證券,從併購中套利。最近,業內人士将此定義進行擴充,如發生自然災害和股東行動主義者組織的行動。 但是,從併購中套利仍是其中最主要的投资策略。 事件驱动的投资策略通常只適合經驗豐富的投資人使用,例如避險基金和私募基金公司。因为傳統的股票投資人,包括股票共同基金的經理,並沒有足夠的專業或者資訊正確的分析這一類公司事件相關的風險。 著名的康沃尔資本公司(Cornwall Capital)成功的利用该策略,并被迈克尔·刘易斯(Michael Lewis)作為“大賣空”電影的題材。劇中人物壓注在CDS上,認為次貸將在不久的時間內發生大量違約事件,這是一次成功的事件驅動型投資。 (zh)
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rdfs:comment 事件驱动型投资或事件驱动型交易是一种避險基金投资策略,目的是利用在公司事件發生前後的潛在市場定價無效率的情况,比如說季財報電話會議,破產時的不良證券,從併購中套利。最近,業內人士将此定義進行擴充,如發生自然災害和股東行動主義者組織的行動。 但是,從併購中套利仍是其中最主要的投资策略。 事件驱动的投资策略通常只適合經驗豐富的投資人使用,例如避險基金和私募基金公司。因为傳統的股票投資人,包括股票共同基金的經理,並沒有足夠的專業或者資訊正確的分析這一類公司事件相關的風險。 著名的康沃尔資本公司(Cornwall Capital)成功的利用该策略,并被迈克尔·刘易斯(Michael Lewis)作為“大賣空”電影的題材。劇中人物壓注在CDS上,認為次貸將在不久的時間內發生大量違約事件,這是一次成功的事件驅動型投資。 (zh) Event-driven investing or Event-driven trading is a hedge fund investment strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as an earnings call, bankruptcy, merger, acquisition, or spinoff. In more recent times market practitioners have expanded this definition to include additional events such as natural disasters and actions initiated by shareholder activists. However, merger arbitrage remains the best-known investment strategy within this group. (en)
rdfs:label Event-driven investing (en) 事件驅動投資 (zh)
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