Ep 405. Merger Arbitrage: Spirit Airlines vs. Albertsons

Potential merger arbitrage situation between Spirit Airlines and Albertsons, analyzing benefits and obstacles of owning these companies. Exploring the probabilistic Kelly Criterion in investing and shorting the market. Comparison of Spirit Airlines and Albertsons, discussing cheap valuations and downside risks. Delving into the concept of merger arbitrage and evaluating asset quality. Exploring KKR's history and their profitable yet reputation-damaging supermarket deal.