September 29, 2021 — The much-ballyhooed expectation of an antitrust crackdown within M&A has yet to commence in earnest.

However, in September, the Surface Transportation Board’s (STB) unfavourable ruling against Canadian National Railway brought the bidding war for Kansas City Southern to an abrupt halt.

While it would have been…


September 24, 2021 — The SPAC market seems to have finally reached its equilibrium point as the total number of SPACs outstanding remained flat over the past month.

The 26 IPOs issued, raising $4.8 billion, since the release of the August SPAC Monitor were offset by the 26 deSPACs, with…


August 31, 2021 — Traditionally, investors have pondered three major considerations when allocating capital.

What is the expected return?

What is the estimated risk?

How does it fit within my portfolio?

The Investment Case For Bitcoin

While bitcoin represents a relatively new asset class, recently, it has outperformed nearly all…


August 25, 2021 — Three major themes have become top of mind for merger arbitrageurs: the U.S., China and meme stonks.

What concerns deal investors regarding the U.S. is their antitrust enforcers, the Department of Justice (DoJ) and the Federal Trade Commission (FTC). Specifically, two events have spooked arbitrageurs regarding…


August 24, 2021 — Six months ago, the SPAC market was about flying taxis, innovative electric vehicle charging and futuristic battery technology.

Now that the party has turned into a hangover, the SPAC market now represents plain-old discounted Treasury bills.

Specifically, buying a SPAC at $9.60 or $9.70 is analogous…


July 22, 2021 — In a world starved for yield, SPAC arbitrage stands out as one of the most attractive low-risk strategies to generate yield.

Since peaking at 1.75% in March, the 10-Year U.S. Treasury yield has fallen to just 1.25%. To most investors, an interest rate of 1.25%, …


June 29, 2021 — In the context of rock-bottom corporate bond yields, merger arbitrage continues to stand out as an attractive strategy for investors seeking to generate yield.

Investment-grade BBB corporate bonds yield just 2.3% and non-investment-grade CCC and lower junk bonds yield 6.7%.

As discussed in last month’s Merger…


Even as the tech-heavy NASDAQ Index his new all-time highs, tech-focused SPACs remain primarily ignored by the market.


June 1, 2021 — In their younger years, Berkshire Hathaway’s Warren Buffett and Charlie Munger were both aggressive hedge fund managers, with each running an investment partnership on behalf of wealthy clients.

Warren and Charlie, Hedge Fund Pioneers

Buffett launched his hedge fund, Buffett Partnership Ltd., in 1957. He established…


May 28, 2021 — Merger arbitrage yields have reset to a “new normal” in the post-Covid environment.

Before March 2020, merger arbitrage yields averaged 5%, representing a 300 basis point risk premium to T-bill yields.

Currently, merger arbitrage yields are approximately 8.0%, and with T-bill yields near 0.0%, …

Julian Klymochko

Founder and CEO of Accelerate Financial Technologies. Learn more at AccelerateShares.com

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store