Average Reviews:
(More customer reviews)I just finished reading the Merger Arbitrage book by Thomas Kirchner and I really enjoyed it. Mr. Krichner's book broke down the philosophy and process behind investing in mergers in a simple and concise way so that anyone can understand how merger arbitrage works. The book has detailed examples of past mergers which really help to illustrate how mergers operate and how to take advantage of them. The book also talks about risks involved with mergers and explains how some risks really aren't that bad considering the potential up side for merger arbitrage strategies.
My favorite part of the book was chapter 12 which talked about how merger arbitrage strategies complement traditional investment strategies. Mr. Kirchner pointed out simple benefits such as diversification of risk and return streams as basic reasons to incorporate a merger arbitrage strategy into traditional investment strategies and he backs up his claims with data that shows exactly what he is talking about.
Overall I would recommend this book to any person who wants to learn more about investing. The book caters to any level of investor and it has great examples which really help out!
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A detailed look at an important hedge fund strategy
Written by a fund manager who invests solely in merger arbitrage, also referred to as risk arbitrage, and other event-driven strategies, Merger Arbitrage is the definitive book on how this alternative hedge fund strategy works. Initial chapters are dedicated to the ins and outs of the strategy–cash mergers versus stock for stock mergers, legal aspects of mergers, and pitfalls of the merger process–while later chapters focus on giving the reader sound advice for integrating merger arbitrage into an investment portfolio. Merger Arbitrage helps readers understand leverage and options, shorting stocks, and legal aspects of merger arbitrage, including seeking appraisal or filing lawsuits for inadequate merger consideration. For those looking to gain an edge in the merger arbitrage arena, this book has everything they need to succeed.
Thomas F. Kirchner, CFA (New York, NY), is the founder and portfolio manager of Pennsylvania Avenue Funds (www.pennavefunds.com), which invests in merger arbitrage and other event-driven strategies.
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