Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

Ricoh (7752 JP) - Long Term Structural Decliner with a Recent Boost in Inorganic Rev & Profits

Canon (7751) Buyback Almost Done, TPX Selldown to Come = Trade Vs Ricoh or Basket

Canon (7751) - OK 2023 Results, Better Guidance, Bigger, Longer, Slower Buyback

JAPAN FLOW: Foreign Investor Inflows Increased; Next Is Foreigners Vs Buybacks Vs GPIF

Assessing the Canon Buyback and Follow-On Performance

Canon NanoImprint. EUV Slayer or Damp Squib?

Gravity Works As WeWork Doesn't; Now Plan B

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/canon-inc" target="_blank" data-smartkarma-citation="entities:1:1" rel="noopener">Canon Inc (7751 JP)</a> has, as discussed in these pages, conducted 18 buybacks since the GFC. Every single one is ¥50bn. They are short and sharp. The longest? 23 days.</li>
<li>The most recent took 18 days, and was only 15% of ADV, significantly lower than the average of the last dozen at 23-24%.</li>
<li>This time, 3 days after the finished they launched another. The stock popped 5% the first day. There's a reason for that. Shareholder structure STILL matters a lot. </li>
</ul>



Canon Inc (7751 JP) has, as discussed in these pages, conducted 18 buybacks since the GFC. Every single one is ¥50bn. They are short and sharp. The longest? 23 days.
The most recent took 18 days, and was only 15% of ADV, significantly lower than the average of the last dozen at 23-24%.
This time, 3 days after the finished they launched another. The stock popped 5% the first day. There's a reason for that. Shareholder structure STILL matters a lot. 


Canon Strikes Again. One Buyback Done, Another Begins. Shareholder Structure STILL Matters