Value strategy
Spin-Offs
When a company distributes a subsidiary's shares directly to its own shareholders, indiscriminate selling by holders who never chose to own the new stock creates a mispricing worth hunting for.
6 months – 3 years post-listingIntermediate
Joel Greenblatt — “You Can Be a Stock Market Genius” (1997); academic grounding from Patrick Cusatis, James Miles & J. Randall Woolridge's spin-off return studies