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

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mitsubishi-estate-co-ltd" target="_blank" data-smartkarma-citation="entities:566:1" rel="noopener">Mitsubishi Estate (8802 JP)</a> reported Q2 earnings today. Domestic revenue and OP in the commercial property and residential businesses were down. International and investment management businesses were up A LOT.</li>
<li>Most of the gains in international business were capital gains, but overall, H1 results were in line with full-year guidance. Condo deliveries are completely in H2. </li>
<li>The company also decided on a ¥100bn buyback. Headline says up to 70mm shares or 5.29% of shares out ex-Treasury. It'll be 20+ smaller. Details, however, matter. </li>
</ul>



Mitsubishi Estate (8802 JP) reported Q2 earnings today. Domestic revenue and OP in the commercial property and residential businesses were down. International and investment management businesses were up A LOT.
Most of the gains in international business were capital gains, but overall, H1 results were in line with full-year guidance. Condo deliveries are completely in H2. 
The company also decided on a ¥100bn buyback. Headline says up to 70mm shares or 5.29% of shares out ex-Treasury. It'll be 20+ smaller. Details, however, matter. 


Mitsubishi Estate (8802) - Buyback Announced and Long-Term It's a Soft Squeeze.