Murray Stahl Episode 100: Four companies about to become more than four

Description:
Stahl's July 2014 Spin-Off compendium covers Alliant Techsystems, ADP, Energizer, and Harbinger Group, each with a business that a parent shareholder might not want to keep. That mismatch is the condition his firm's 1996 spinoff study linked to a mispriced first trade. A section on emerging markets as an asset class warns against buying buckets without underwriting what's inside.

Series: https://investingodyssey.substack.com/s/stahl-from-the-start