STRATEGIES / EVENT & SIGNAL

LENS 05 · EVENT & SIGNAL · 2 STRATEGIES

Events the filings disclose

Two screens built on disclosures rather than valuation: corporate events that published research treats as informative, and insider behavior with documented signal value.

Special Situations

IN THE TRADITION OF JOEL GREENBLATT'S SPECIAL-SITUATIONS RESEARCH

Spin-offs, restructurings, tender offers, and other corporate events the filings disclose — situations where the tradition documents that forced or inattentive ownership can misprice the pieces.

STAGE 1 LOOKS FOR

Event flags from recent 8-Ks and proxy filings, with size and liquidity guards.

STAGE 2 READS FOR

The event mechanics from the primary documents: who is incentivized to do what, the timeline, and what the filings say each piece looks like.

HORIZON · EVENT WORKOUT REFRESH · 30 DAYS

Insider Cluster Buying

IN THE TRADITION OF THE ACADEMIC INSIDER-TRANSACTION LITERATURE

Multiple distinct insiders purchasing within a window — the cluster pattern the literature documents as more informative than any single transaction. The filings say who, when, and how much.

STAGE 1 LOOKS FOR

Form 4 cluster signals: several distinct non-ritual purchases inside a window, sized meaningfully against holdings.

STAGE 2 READS FOR

Context for the cluster from the filings: what the insiders can see, disclosed headwinds the purchases contradict, and financing red flags.

HORIZON · SIGNAL WINDOW · QUARTERS REFRESH · 21 DAYS

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