--- title: Spin Offs Are Popular. They Can Also Be Dangerous - Boyar Value Group description: "\"Everyone thinks spin offs are an easy way to make money and they're not, \" says Jonathan Boyar, managing director of Boyar Value Group. \"You have to be very careful and outline the different things to look for to see if a spinoff is attractive.\"" image: https://www.blog.boyarvaluegroup.com/hubfs/Imported_Blog_Media/Barrons-new-picture.jpg --- [Skip to content](https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/newsroom/spin-offs-are-popular-they-can-also-be-dangerous#main-content) [![logo](https://www.blog.boyarvaluegroup.com/hs-fs/hubfs/Boyar_October2018%20Theme/Images/logo.png?width=110&height=70&name=logo.png "logo")](https://boyarvaluegroup.com) [![logo-inverted](https://f.hubspotusercontent10.net/hubfs/2333817/GiantFocal_Marketplace/March/logos/logo-inverted.svg "logo-inverted")](https://boyarvaluegroup.com) - Boyar Family of Companies #### Boyar Family of Companies Whether uncovering a new idea for our research subscribers, managing pension funds, or handling accounts for individual investors, our research-driven insights help both professional and individual investors pursue their investment goals.  [![Boyar\_Logo\_Asset\_Management-May-31-2023-08-39-05-3251-AM](https://www.blog.boyarvaluegroup.com/hs-fs/hubfs/Boyar_Logo_Asset_Management-May-31-2023-08-39-05-3251-AM.png?width=539&height=200&name=Boyar_Logo_Asset_Management-May-31-2023-08-39-05-3251-AM.png)](https://www.boyarassetmanagement.com/) Boyar Asset Management focuses on investing in the equity securities of intrinsically undervalued companies. 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They Can Also Be Dangerous [Jul 14, 2026 The Boyar Value Group’s 2nd Quarter Letter 2026](https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/the-boyar-value-groups-2nd-quarter-letter-2026) [Apr 21, 2026 The Boyar Value Group’s 1st Quarter Letter 2026](https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/the-boyar-value-groups-1st-quarter-letter-2026) [Jul 21, 2026 "I'll Take Manhattan": How John Catsimatidis Built a $4 Billion Empire](https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/john-catsimatidis) - [Tweet](https://twitter.com/share) The Boyar Value Group was recently cited in an article about spinoffs that was featured in *Barron’s.* Below is an excerpt from the article as well as a link to the entire piece (subscription may be required). For investors, spinoffs—turning a division into a publicly traded company by issuing newly created stock—can unlock value. Theoretically, it allows the pieces of a corporation to trade at higher valuations than they do trapped inside the company, where they might not fit together properly. In practice, they can be complex, and in some cases, detrimental to long-term shareholder returns. *“Everyone thinks spinoffs are an easy way to make money, and they’re not,” says Jonathan Boyar, managing director of Boyar Value Group. “You have to be very careful and outline the different things to look for to see if a spinoff is attractive.”* Boyar has a point. For activist investors, spinoffs can bring substantial gains. A 2019 study by the Boyar Value Group analyzing nearly 250 spinoffs over a 10-year period found that a spinoff’s largest returns happened between seven and 12 months, reaching maximum returns of 7.1% after one year of completion. Long-term investors do less well, as returns tail off after that, with the average spinoff in Boyar’s study underperforming the [S&P 500](https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.barrons.com%2Fmarket-data%2Findexes%2Fspx&data=05%7C01%7Camalia%40boyarvaluegroup.com%7C56e2bb2f2bd44b0c082808da44b72f5f%7C032a423802ec49ac9176e54d1d27235e%7C0%7C0%7C637897850826067014%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=IHUPRDiFr9LVYy%2FyQLJ6xKCbfi80647mQdIcpQeBHL4%3D&reserved=0) by 2.7% a year on average. *[**Click Here To Read The Full Article**](https://www.barrons.com/articles/stocks-spin-offs-danger-51652893641)*               This information is not a recommendation, or an offer to sell, or a solicitation of any offer to buy, an interest in any security, including an interest in any investment vehicle managed or advised by Boyar Asset Management (“Boyar”) or its affiliates. . 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All rights reserved. | [Terms of Use & Legal Information](https://boyarvaluegroup-4595129.hs-sites.com/terms-of-use-legal-information) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "dateModified" : "2024-10-01", "datePublished" : "2024-10-01", "headline" : "Spin Offs Are Popular. They Can Also Be Dangerous", "image" : [ "https://4595129.fs1.hubspotusercontent-na1.net/hubfs/4595129/Imported_Blog_Media/Barrons-new-picture.jpg" ], "mainEntityOfPage" : { "@id" : "https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/newsroom/spin-offs-are-popular-they-can-also-be-dangerous", "@type" : "WebPage" } } ``` ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Jonathan Boyar", "url" : "https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/author/jonathan-boyar" }, "dateModified" : "2023-09-11T16:39:38.777Z", "datePublished" : "2022-06-01T19:38:17.000Z", "headline" : "Spin Offs Are Popular. 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