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

The Magnality of the Marvelous Milton Merger Makes a Moribund March To Metaphysis (It's Mirific!)

Asia-Pac Weekly Risk Arb Summary: Sydney Aiport, Beijing Capital Land, IGO/Western Areas

Marvelous Milton Making Its Move - New 30yr Highs On Both Stocks

Milton-WHSP Merger Index Implications and the Marvelous Arb

Milton's Marvelous Arb Meanders Along... Marvelously

Quiddity Advisors

Event-Driven

The Marvelous Milton Arb continues to be Maaaahvelous, darling, though you wouldn't know it to see the price evolution. The Simple Arb is, as I write, trading at a 3.8% spread.I expect that is because people do not see how marvelous this is. <iframe src="https://www.youtube.com/embed/5gbDgptNlvA" width="560" height="315" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="allowfullscreen"></iframe>That is their loss.I am sure Smartkarma readers know how mahvelous this situation is.Last week we got the monthly <a href="https://www.asx.com.au/asxpdf/20210802/pdf/44yx7t2blf4t29.pdf" target="_blank" rel="noopener">NAV update for July 2021</a> suggesting a A$5.53. The Quiddity model for the NAV was a little bit less than half a penny higher, though it is possible And as of this morning, we have more detail on the <a href="https://www.asx.com.au/asxpdf/20210805/pdf/44z1f0732j455j.pdf" target="_blank" rel="noopener">Milton-WHSP Merger Schedule</a>. That matters because there continues to be delicious optionality on this situation. Both active managers and passive managers holding WHSP can benefit. MLT Hodlers should HODL. And as always, there is much more explication below the fold. <hr>The original piece with the fancy arithmetic in the Marvelous MLT Merger Model is described in <a href="https://www.smartkarma.com/insights/milton-merger-is-a-most-marvelous-arb" target="_blank" data-smartkarma-citation="insights:53464" rel="noopener">Milton Merger Is A Most Marvelous Arb</a>.The index treatment is in <a href="https://www.smartkarma.com/insights/milton-whsp-merger-index-implications-and-the-marvelous-arb" target="_blank" data-smartkarma-citation="insights:53551" rel="noopener">Milton-WHSP Merger Index Implications and the Marvelous Arb</a>.The followup showing more marvelousness (is that a word?) is in <a href="https://www.smartkarma.com/insights/milton-s-marvelous-arm-meanders-along-marvelously" target="_blank" data-smartkarma-citation="insights:54765" rel="noopener">Milton's Marvelous Arb Meanders Along... Marvelously</a>.

The Marvelous Milton Arb continues to be Maaaahvelous, darling, though you wouldn't know it to see the price evolution. The Simple Arb is, as I write, trading at a 3.8% spread.I expect that is because people do not see how marvelous this is. That is their loss.I am sure Smartkarma readers know how mahvelous this situation is.Last week we got the monthly NAV update for July 2021 suggesting a A$5.53. The Quiddity model for the NAV was a little bit less than half a penny higher, though it is possible And as of this morning, we have more detail on the Milton-WHSP Merger Schedule. That matters because there continues to be delicious optionality on this situation. Both active managers and passive managers holding WHSP can benefit. MLT Hodlers should HODL. And as always, there is much more explication below the fold. The original piece with the fancy arithmetic in the Marvelous MLT Merger Model is described in Milton Merger Is A Most Marvelous Arb.The index treatment is in Milton-WHSP Merger Index Implications and the Marvelous Arb.The followup showing more marvelousness (is that a word?) is in Milton's Marvelous Arb Meanders Along... Marvelously. 

Washington H. Soul Pattinson and Co. Ltd (SOL AU)

The STILL MARVELOUS Milton Arb Confirms Its Schedule - Much Marvelousness to Come

Milton Corp Ltd

The STILL MARVELOUS Milton Arb Confirms Its Schedule - Much Marvelousness to Come