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

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

<div class="content-highlight"><h2>The Creation Of A Unique Pure-Play Agribusiness</h2></div><p>Some 20 months after Dow Chemicals and DuPont completed their ‘Merger of Equals’ in August 2017 to create the world’s largest global chemicals company, DowDuPont (DWDP) has completed the process of breaking itself up into three separate parts.  The idea of the merger was to take the best parts of Dow and DuPont, cull the rest, and then create three best-in-class companies in their respective spheres of operation.  Following the spin-off of its <em>Material Science business</em> (essentially its commodity-based chemicals division) under the Dow name (DOW US) on April 1, 2019, DWDP spun-out its AgriTech business to create a pure-play agribusiness company called Corteva Agriscience (CTVA US)  via a tax-free distribution on June 1, 2019, with the stub housing the  Specialty Products division (a collection of technology-based materials, ingredients and solutions for an array of industries), to trade under the'old' new name E.I. du Pont de Nemours and Company or DuPont and ticker (DD US).</p><p>In this insight, we focus on Corteva, which offers investors a somewhat unique play on an industry driven by secular drivers of long-term demand growth albeit with a cyclical element to the business.</p><p>To be sure, uncertainty over its 2019 guidance as a result of the record rainfall causing planting delays in the key growing regions of the US represents a near-term overhang over the newly listed shares, but we think the worst case scenario is already reflected in the prevailing share price, which we reckon may be discount a cut in EBITDA guidance of as much as ~15% from prevailing guidance range. From a longer-term investment horizon perspective, Corteva offers, in our view, an attractive risk-reward profile given the aforementioned secular growth trends together with increased odds of an upturn in the North American agriculture cycle in 2020</p>

The Creation Of A Unique Pure-Play AgribusinessSome 20 months after Dow Chemicals and DuPont completed their ‘Merger of Equals’ in August 2017 to create the world’s largest global chemicals company, DowDuPont (DWDP) has completed the process of breaking itself up into three separate parts.  The idea of the merger was to take the best parts of Dow and DuPont, cull the rest, and then create three best-in-class companies in their respective spheres of operation.  Following the spin-off of its Material Science business (essentially its commodity-based chemicals division) under the Dow name (DOW US) on April 1, 2019, DWDP spun-out its AgriTech business to create a pure-play agribusiness company called Corteva Agriscience (CTVA US)  via a tax-free distribution on June 1, 2019, with the stub housing the  Specialty Products division (a collection of technology-based materials, ingredients and solutions for an array of industries), to trade under the'old' new name E.I. du Pont de Nemours and Company or DuPont and ticker (DD US).In this insight, we focus on Corteva, which offers investors a somewhat unique play on an industry driven by secular drivers of long-term demand growth albeit with a cyclical element to the business.To be sure, uncertainty over its 2019 guidance as a result of the record rainfall causing planting delays in the key growing regions of the US represents a near-term overhang over the newly listed shares, but we think the worst case scenario is already reflected in the prevailing share price, which we reckon may be discount a cut in EBITDA guidance of as much as ~15% from prevailing guidance range. From a longer-term investment horizon perspective, Corteva offers, in our view, an attractive risk-reward profile given the aforementioned secular growth trends together with increased odds of an upturn in the North American agriculture cycle in 2020

SpinTalk: Focus On Corteva Agriscience (CTVA US) - An Attractive Long Term Investment Proposition

DowDuPont Inc

SpinTalk: Focus On Corteva Agriscience (CTVA US) - An Attractive Long Term Investment Proposition