Horizon Kinetics is an asset management and research shop founded by Peter Doyle, Steven Bregman and Murray Stahl that has been analyzing spinoffs (and plenty of other things) for decades. Over the years, I’ve always enjoyed the various opportunities I’ve had to hear them speak. The firm even publishes a standalone research report dedicated to spinoffs and has… Read More »
Every year Barron’s gathers a group of asset management luminaries for a roundtable discussion. The group collectively manages many many billions of dollars and includes people like Jeffrey Gundlach, Mario Gabelli and Meryl Witmer. While the discourse includes a bit about the overall macro environment, the focus is mainly on each individual’s top investments for the coming year.… Read More »
Sadly, not every announced spinoff actually ends up executed. For example, earlier this week we highlighted Fidelity National Venture’s (FNFV) postponement of its restaurant group spinoff while it exercises patience and awaits better ‘market conditions’. Another recently scrapped spinoff was Federal-Mogul Holding’s (FDML) planned separation of its Motorparts business from its Powertrain unit. The decision shouldn’t have come… Read More »
Just two days after setting the date for its Associated Capital Group(AC) spinoff, GAMCO Investors(GBL) has pushed it back eleven days in order to “to coincide with month-end.” One wonders what went on behind the scenes that caused the Board(and by Board, we mean Mario Gabelli) to reconsider so quickly. Presumably, the Board was previously aware that November… Read More »
Mario Gabelli has often made money off of spinoffs. Now he’s executing one. Gabelli, the CEO and controlling shareholder of GAMCO Investors(GBL), will be spinning off the company’s alternative investment management business and some assorted assets as Associated Capital Group. At 11:59PM on November 19, GAMCO shareholders as of November 12 will receive one Associated Capital Group Class… Read More »
Mario Gabelli’s GAMCO recently unveiled a shareholder proposal that it sent to National Fuel Gas’ (NFG) management for consideration at its 2015 Annual Meeting. The firm wants NFG to hire an investment bank to explore the spinoff of its utility business, leaving the remaining parent company more focused on its E&P and pipeline units. The rationale is that a… Read More »
Twice a year, Barron’s gathers some of the top minds in the industry for a roundtable discussion on the worldwide investment environment and economic outlook. This year’s panel included the same regulars as usual, financial titans all, PIMCO’s Bill Gross, uber-bull Abby Joseph Cohen, GAMCO Investor’s (GBL) Mario Gabelli and Felix Zulauf. In addition to pontificating on the… Read More »