In the current episode, we talk about lotteries. Do they ever have positive expected values? Does this week's? Also, we go deeper into the potential for a Shire (NASDAQ:SHPG) deal with Baxalta (BXLT).
Disclosure: I am/we are long BXLT.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Additional disclosure: Chris DeMuth Jr and Andrew Walker are portfolio managers at Rangeley Capital. Rangeley invests with a margin of safety by buying securities at deep discounts to their intrinsic value and unlocking that value through corporate events. In order to maximize total returns for our investors, we reserve the right to make investment decisions regarding any security without further notification except where such notification is required by law.