AlphaSituations-Event/Catalyst Driven Research, AlphaSituations

Robert Sassoon

Robert Sassoon has been an equity analyst for more than twenty years focusing primarily on global special situations. Robert has worked in research for several large sell-side institutions, including Credit Suisse, Natwest Capital Markets and Societe Generale. During his career, he has achieved top 5 rankings in various analyst surveys, including the Extel and Greenwich surveys.

In 2017, Robert founded AlphaSituations, an idea-generating investment research service with the goal of delivering a unique portfolio of ideas to drive client growth and returns by uncovering compelling and highly profitable value propositions as well as lucrative shorter-term trading situations arising from select dislocating corporate restructuring events and catalysts. Currently, the main geographical focus of the research is North America. Since its establishment, AlphaSituations has delivered a track record of outperformance with a hit rate of winners of more than 70% of its portfolio of ideas generating annualized average returns of 20%.

In January 2022, AlphaSituations was contracted  by Water Tower Research,  an investor engagement and stakeholder communication platform to provide coverage of Special Situations.

AlphaSituations-Event/Catalyst Driven Research

SpinTalk:Bausch Health Companies- Restructuring Broadens,Considerable Value Still Left On The Table

SpinTalk: The Bausch Corporate Overhaul Is More Illusory Than Substantive At Least for Now

SpinTalk: Why Bausch Health Companies' Planned Eye Care Spin-Off Promises a Major Value Re-Rating

AlphaSituations

Since its establishment, AlphaSituations has delivered a track record of outperformance with a hit rate of winners of more than 70% of its portfolio of ideas generating annualized average returns of 20%. In January 2022, AlphaSituations was contracted by Water Tower Research, an investor engagement and stakeholder communication platform to provide coverage of Special Situations

Event-Driven

On August 16, 2020, we published an insight looking into the potential impact of  the decision by <a href="https://www.smartkarma.com/entities/bausch-health-companies-inc" target="_blank" data-smartkarma-citation="entities:941:1" rel="noopener">Bausch Health Companies (BHC US)</a> to spin off its largest revenue generator, the Eye Health business (Bausch &amp; Lomb), into an independent publicly traded entity. Although details behind the proposed transaction at the time were sparse, our initial assessment was that the proposed corporate restructuring event along with the company's debt reduction efforts  promised to be a substantiallly value creating one. For further details,  please refer to the insight - <a href="SpinTalk:%20Why%20Bausch%20Health%20Companies'%20Planned%20Eye%20Care%20Spin-Off%20Promises%20a%20Major%20Value%20Re-Rating.%20Read%20more:%20https://skr.ma/fpJFD" target="_blank" rel="noopener">SpinTalk: Why Bausch Health Companies' Planned Eye Care Spin-Off Promises a Major Value Re-Rating.</a> 
Since then, BHC has indeed enjoyed a major elevation in its share price, up by more than 90% from the published share price (i.e., $17.48)  in our insight,  bringing it to trade in our then assessed target range of $28-$34, at $33.43. However, there have been further developments since the publication of that insight, notably the ramping up of interest from activists. This has encouraged us to revisit the situation and to review our initial valuation thesis.
Our conclusion is that there is likely to be substantially more value in the BHC's restructuring than we had initially assessed.

On August 16, 2020, we published an insight looking into the potential impact of  the decision by Bausch Health Companies (BHC US) to spin off its largest revenue generator, the Eye Health business (Bausch &amp; Lomb), into an independent publicly traded entity. Although details behind the proposed transaction at the time were sparse, our initial assessment was that the proposed corporate restructuring event along with the company's debt reduction efforts  promised to be a substantiallly value creating one. For further details,  please refer to the insight - SpinTalk: Why Bausch Health Companies' Planned Eye Care Spin-Off Promises a Major Value Re-Rating. 
Since then, BHC has indeed enjoyed a major elevation in its share price, up by more than 90% from the published share price (i.e., $17.48)  in our insight,  bringing it to trade in our then assessed target range of $28-$34, at $33.43. However, there have been further developments since the publication of that insight, notably the ramping up of interest from activists. This has encouraged us to revisit the situation and to review our initial valuation thesis.
Our conclusion is that there is likely to be substantially more value in the BHC's restructuring than we had initially assessed.

ActivistTalk: Why We Think There Is Even More Value In Bausch Health Companies Pending Restructuring