According To Sources

As it's Episode 12, it's time for a quarterly review. I examine the the Top 10 most intriguing situations in the world of deals, activism and merger arbitrage. Companies discussed include Yum China, Tribune, Mattel, Nielson & Arconic.

Segment 1:

I reveal my biggest holding, and what I believe to be the most intriguing deal situation on the board.

Segment 2:

Lehman Brothers. Allied Capital. Green Mountain Coffee. There was a moment in time where if David Einhorn shorted a stock, it was regarded as a possible death sentence for the shares. However, for both Einhorn and contemporary Bill Ackman, the last few years have proven to be difficult. In part II of my interview with Whitney Tilson, we discuss these two legendary hedge fund managers, and Whitney describes who he believes is the best hedge fund that no one's ever heard of .

Decoding the Short of the Decade: The origins, details, risks and aftermath of perhaps this decade's greatest short: Lumber Liquidators. I sit down with Whitney Tilson to discuss the process, and talk a little Tesla.

Shares of Eli Lilly have exploded 14% since their announcment to spin-out its animal health division "Elanco". However, one of Elanco's divisons, Agri Stats, is at the heart of one of the largest class-action lawsuits in the country. If found guilty Elanco could face billions in damages. In this episode I interview Tim Ramey, analyst at Pivotal Research, who downgraded Tyson Foods in 2016 an lowered his price target from $100 to $40 after reading the accusations involving Agri Stats. Not only do we discuss TSN, but we look back at his time covering Herbalife, and his relationships with Bill Ackman, David Einhorn and Carl Icahn during that time period.

In this in-depth interview, Jason Varano, Executive Director at Nomura Securities who focuses on Special Situations / Risk-Arbitrage sits down to discuss NXPI/QCOM, AABA/BABA, DVMT/VMW, AKRX and a little CBS/VIAB (the interview was conducted July 26th, the day before the New Yorker article on Moonves) Time Cues: Open:  Why I'm short CBS 3:47:  NXPI/QCOM 16:47:  AABA/BABA 21:00 DVMT/VMW 27:00  AKRX 33:00 CBS/VIAB 35:00   5 QUESTIONS

I sit down with Michael Batnick, author of "Big Mistakes: The Best Investors and Their Worst Investments."   Some of Wall Street's greatest missteps are well documented:  Bill Ackman's attempt at activism in JC Penny, or Warren Buffet's go-around with Salomon Brothers are two famous examples.  However the great investors of the 19th, 20th and 21st centuries ALL have their own investment blunders.  Some went on to thrive after, while others called it quits.  Michael Batnick and I spend 30 minutes analyzing these infamous lapses in judgement, INCLUDING Mark Twain's (yes the writer!) attempts at venture capitalism (yes he passed on an investment in Alexander Graham Bell's telephone)

A recent change at the CMS (Center for Medicare and Medicaid Services) is going to revise the way medicare pays the HHA's (Home Health Agencies) starting in 2020.  One of healthcare's hottest subsectors has seen AMED rise 71% ytd, LHCG +40%, and EHC +38%.  However not all HHA's are created equal, and Spencer Pearlman of Veda Partners explains how EHC's revenue stream is MOST at risk.

Hedge fund manager Michael Samuels of Broome Street Capital explores the latest deal situation at Synaptics (SYNA) and examines what the future could hold for Hain Celestial Group (HAIN) now that Irwin Simon is out.  Lastly an NXPI update and answers to some twitter questions. TWITER:  @accordtosources

This week on According to Sources, I analyze why the Kraft Foods for Campbell Soup story seems to be fairly weak.  I explain how a lesson from the past can be a guide for trading Education Realty Trust (EDR).  And in my interview with Joshua Goldberg, we do a deep dive into trading Disney / Comcast/ 21st Century Fox, and revisit NXPI/Qualcomm   tweet me @accordtosources

Henrietta Treyz of Veda Partners joins According to Sources to discuss the important upcoming dates for clarity regarding ZTE sanctions.  She handicaps the odds for the Rubio/Schumer bill as it stands in the senate, and I give my take on trading NXPI   twitter:  @accordtosources email:  [email protected]