Module 8: Special Situations

Most price moves are moods: fear and greed changing seats. But some price moves come from events with a date and a document, events that force someone to buy or sell whether they want to or not. This module teaches you to find and read those events, free, from the filings themselves.

1. Chapter 1: Events vs moods: what a special situation is: Benjamin Graham’s simple idea that a dated corporate event, not a feeling, can move a price.
2. Chapter 2: Spin-offs: when a company splits and some sellers must sell: why forced sellers can leave bargains behind, and why some spin-offs are rubbish dumps.
3. Chapter 3: Merger arbitrage: collecting the last few percent: the small gap after a deal is announced, and what a broken deal costs.
4. Chapter 4: Tender offers and big buybacks: the company bids for itself: how buybacks work, featuring Apple’s record repurchases.
5. Chapter 5: Index adds and drops: the forced buying nobody sees: how index funds quietly shove prices around on schedule.
6. Chapter 6: Using the Special Situations page: our free tracker of event filings, plus an honest look at how small these edges really are.

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