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

Daito Trust Construction (1878) - Big Buyback, Dense Register, 120% Payout This Year

Joyful Honda (3191) - Repeats Its ASR In Double the Size

Joyful Honda Conducts Japan's First* Official ASR - And It Remains Cheap on an MBO Framework

Quiddity Advisors

Event-Driven

<ul>
<li>Back on 30 October, <a href="https://www.smartkarma.com/entities/daito-trust-construct-co-ltd" target="_blank" data-smartkarma-citation="entities:10503:1" rel="noopener">Daito Trust Construct (1878 JP)</a> announced a large earnings, a new Shareholder Return policy, a higher payout this year, and a big buyback. </li>
<li>It said the buyback period would start two days later, but they did not specify the method (<a href="https://www.smartkarma.com/insights/daito-trust-construction-1878-big-buyback-dense-register-120-payout-this-year" target="_blank" data-smartkarma-citation="insights:116772" rel="noopener">Daito Trust Construction (1878) - Big Buyback, Dense Register, 120% Payout This Year</a> </li>
<li>Today they announced a ToSTNeT-3 purchase for "the whole size", which is accompanied by a "Japan-style ASR." Know your details.</li>
</ul>


Back on 30 October, Daito Trust Construct (1878 JP) announced a large earnings, a new Shareholder Return policy, a higher payout this year, and a big buyback. 
It said the buyback period would start two days later, but they did not specify the method (Daito Trust Construction (1878) - Big Buyback, Dense Register, 120% Payout This Year 
Today they announced a ToSTNeT-3 purchase for "the whole size", which is accompanied by a "Japan-style ASR." Know your details.


Daito Trust (1878) Doing a ToSTNeT Buyback Which Is NOT a ToSTNeT Buyback...  Unless It Is.