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

Rakuten (4755 JP) - A Tricky Offering But Lots of Non-Fundamental Long Demand

Rakuten (4755) - TSE Neglects Its Ad Hoc Powers - Less Bigly Index But Biglier Non-Index

Rakuten Bank (5838 JP) - Attractive Versus Domestic Neobank Peers, with Added Technical Support

Rakuten Bank (5838) IPO - Post-IPO Trading Volume Decay and RB's Place Among Banks (Part 3)

Rakuten Bank (5838) IPO - New Price Is One To Take (Part 1)

Rakuten Bank (5838) IPO - Let's Go! (Part 2)

Gravity Works As WeWork Doesn't; Now Plan B

Quiddity Advisors

Event-Driven

<ul>
<li>Rakuten Bank priced its IPO low and then immediately bounced. Earnings came in as forecast, and the forecast next year did too. Highish PBR, high ROE, not-so-high-PER on low ROA.</li>
<li>The stock fell on 16 May after Rakuten Bank announced its capital raising. That was probably a knee-jerk reaction, and had no reason. </li>
<li>Next week sees the TOPIX inclusion. And the Real World Float has gotten smaller since the offering. And some of those people aren't going to sell near-term.</li>
</ul>


Rakuten Bank priced its IPO low and then immediately bounced. Earnings came in as forecast, and the forecast next year did too. Highish PBR, high ROE, not-so-high-PER on low ROA.
The stock fell on 16 May after Rakuten Bank announced its capital raising. That was probably a knee-jerk reaction, and had no reason. 
Next week sees the TOPIX inclusion. And the Real World Float has gotten smaller since the offering. And some of those people aren't going to sell near-term.


Sumitomo Mitsui Financial Group (8316 JP)

Mitsubishi UFJ Financial (MUFG) (8306 JP)

Rakuten Bank - Big TOPIX Inclusion Next Week