Live From the Desk

Arbitrage Risk Management

While a very high percentage of announced M&A deals close successfully, occasionally there are deals that fall apart. We strive to avoid deal failure through careful investment selection. Nevertheless, one risk in merger arbitrage is that the announced merger will lead to an opportunistic, hostile bid for the acquiring company itself. This dynamic recently played …

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What Does the Fed Say?

(For reference, watch the Norwegian phenomenon Ylvis here) We believe that one unspoken reason why the Fed has prolonged Quantitative Easing is that they still view growth capital as very constrained. Granted, Apple can issue debt at record low rates and there are plenty of headlines about new bond deals in the market but almost …

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Duck Hunt

Our golden Loonie is likely going a lot lower. There is nothing more iconic to Canadian cottage country than the soundtrack of the loon. So much so, that instead of gracing our $1 dollar coin with our first prime minister (or president) like most countries, we chose a loon. Because of this, the Canadian dollar …

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