Front Cap Lens

Front Cap Lens

Taking advantage of voluntary redundancy and derivatives

On the morning of Monday, the sun shone extra bright for a company in southern California. The small business health care specialist Advanced Medical Optics (NYSE: EYE) lived a truly perfect day. At least, its investors made.

You see, Abbott Laboratories announced that it intends to acquire the AMO of $ 22 per share in cash. That's about 149% above its $ 8.85 Friday's close. It took 18 years for the S & P 500 to bring those types of gains. Seriously, have you had to invest in February 1991 and obtain 149% gain today.

Most investment advisors to compare their expectations of profitability in the benchmark indices like the S & P 500 or Dow Jones. Even small-cap specialists compare their earnings to the Russell 2000. But why in the world would like to wait 18 years for grow your money, when there are investments you can buy on a Friday afternoon and cash on Monday for the same cost.

So the question before us is how you can double your money as investors AMO?

AMO is a rare case when investors oversold shares in a company and a great competitor advantage. To benefit from these cases, it is necessary to find similar situations. Let's look at history through AMO …

Find Mega Value

AMO sells vision correction, technologies and products for a wide variety of patients. For example, no one sells more LASIK surgical devices – used in more than 90 percent of all U.S. refractive surgical procedures – which AMO. The company also has the second devices on the market for cataract surgery and the third position in the contact lens from the market.

Now, just a serious investigation there is no way for me to say more than that. Frankly, I do not know much about this industry, and since the occurrence of the leap, not need.

But apparently, Abbott Laboratories did research and thought that it was still AMO a purchase with a premium of 148%. The point is, Abbott realized how important it was to control leading positions in these fields.

Over 60% of 60 + years old have cataracts. In the next 11 years, the number of 60 + years old worldwide is expected to increase by 43%. In a nutshell … the older you are, the more likely you AMO technologies. And with more seniors than ever, demand is increasing. You do not have to be an expert eye to notice what Abbott was thinking.

In addition to seeking a great future, AMO was incredibly cheap last week. Abbott is basically paying a total of $ 2.8 million for a company that produces $ 1.1 billion in annual revenues. In only two and half years, the company earnings are worthy of investment.

Of course it's not a highly profitable company yet, but is black. AMO is already turning a profit, which is just another revenue stream for Abbott even before synergies are realized.

Back how this affects you …

If you know what to look for, you may be in the next AMO. Below is a quick list of criteria to look for when searching for a candidate to purchase:

  • <B> <I> Value </ B> </ I> – is the company's price-earnings, price-sales ratios and price-low cash flow?
  • <B> <I> ROI </ B> </ I> – Does the company have taken intelligent investment decisions? Will there be a useless pile of intangible assets out there that selflessness by their potential?
  • Industry – Is the company in a growing or contracting in the industry? Is it an industry that is ripe for mergers and acquisitions?
  • Earnings – the company is already taking advantage, or at least have a horizon profitable?
  • Debt – Is the company that the high debt? A potential buyer to use the debt situation to reduce the purchase price?
  • Synergy – is the company's business model flexible, and can a potential buyer synergy cost savings by departments?

Of course, every company is different, and each acquisition is different. It takes some serious study to find a great buy candidates. But in this, and you can save 18 years of waiting for the market values. If you find the right candidate, you can multiply your money in hours, not years.

That's not to say that shopping is the only way to do multiplication your money …

What frozen desserts, designer handbags and underwear have in common? Two of the best investment opportunities in this decade. Let me make a …

A single company – one that will probably be familiar with – the three seemingly unrelated products sold. A few years ago Sara Lee Corp (SLE: NYSE) – The manufacturer of frozen (but tasty) cakes and pastries – owned by hundreds of brands, many of which made no sense.

For example, frozen cheese maker was the sole owner of the bags and Hanes underwear coach. These two subsidiaries, obviously, not much sense for the company. That's why – for two separate transactions – Sara Lee management and board them disposed of through a process known as a derivative.

Spinoffs are common in business world. They can present investors with great opportunities and intelligent, sometimes less fortunate investors with even larger losses. Spinoffs are often as simple as they seem – a parent company decides it can do without one of their business. Thus, the subsidiary spun off by itself.

There are four basic reasons for a parent to spin-off of one of his "sons":

  • Unrelated businesses – often, companies like Sara Lee subsidiaries own certain – as coach and Hanes – They have nothing to possess. This happens often in clusters where a given product is removed and is limited by the organization of the parent company.
  • Tax benefits – taxes can be annoying and confusing. But occasionally, mathematicians and financial experts to find a loophole to save in taxes and preserve shareholder value. From time to time, take a spin-off to do so.
  • Reorientation – often take a large company out their operations and find one of his companies to the rear, which inevitably puts a strain on management to solve the problem. The best solution is derived this business for the management of the parent company can return to profitable growth companies. Often, this benefits both the parent and "child" of the company.
  • Pinching Off Debt – some spinoffs are created to download the onerous debt and other liabilities. This is where many unfortunate investors take huge losses. As you can imagine, a company created from the need to relieve the debt is doomed from the start.

It is important to decipher between the four reasons why if you find the right one, you stand to make huge profits. Let's look back at our example above …

As noted, the situation of Sara Lee first fit the mold – unrelated businesses. The split creates a perfectly capable business revenue potential nor the father or the "child" is realized.

Sara Lee first separated coach in 2000. Almost immediately, the newly formed Coach Inc (COH: NYSE) started your marketing program. This became a huge success and unrealized profit potential came to light, sending shares up over the next six years. The manager outperformed its former parent for more than 2,000% and negative 15%.

The same will happen in the second round, when Sara Lee gave rise Hanesbrand Inc (HBI: NYSE) in 2006. Although the gains were not as great, the shareholders of Hanes view his actions as a double Sara Lee shares fell flat:

By Of course, not all indirect results of work in this way. We take seriously the study and an ear to the ground to find exactly what is happening.

Many Sometimes, when the spin-off parents, keeping it quiet. If the media takes hold of her actions can artificially accident, or peak shape premature. And, as mentioned, subsidiaries adversely affect many shareholders.

A recent example is the InterActiveCorp (IACI: NASDAQ) derived from Ticketmaster Entertainment Inc. (TKTM: NASDAQ). When Ticketmaster is sent on its way, InterActiveCorp left with a parting gift of about $ 750 million in debt and the crisis Credit began to peak this summer. Ticketmaster shares inevitably collapsed under the weight, falling more than 80%

Of course, you have to use your best trial when it finds a spin-off. You will have to decide what the parent believes that giving up.

Plus, no But the purchase of spinoffs when fresh is a good idea. According to Chris Mayer of Mayer's Special Situations – a newsletter focused on divisions and other single investment – "Spinoffs beat their industry peers and surpassed the S & P 500 by 10% per year in its first three years of existence."

Those numbers account for both spin offs that lead to profits and leading to losses. Obviously this is something to consider.

If you are lucky and have the right within the knowledge, you can easily take advantage of the next division and let the next coach Ticketmaster alone.

Sincerely,
Jim Nelson

About the Author

Jim Nelson is the managing editor of Penny Sleuth which offers unbiased commentary from expert analysts and authors about penny stocks .

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