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

A/H Premium Tracker (To 25 July 2025):  "Beautiful Skew" Raging Onward

A/H Premium Tracker (To 1 Aug 2025):  HUGE SOUTHBOUND Buying Helps Beautiful Skew but Premia Up

A/H Premium Tracker (To 8 Aug 2025):  Premium Hs Unwind, Again. Beautiful Skew Flavour Continues

A/H Premium Tracker (To 4 July 2025):  "Beautiful Skew" Continues as SB Buys Wide Spread Hs

HK Connect SOUTHBOUND Flows (To 18 July 2025); Volumes Strong, Net Buying Decent, Meituan Hot

A/H Premium Tracker (To 11 July 2025):  "Beautiful Skew" Continues - BIG AH Premia Compression

HK Connect SOUTHBOUND Flows (To 11 July 2025); Volumes Up, Net Buying Up, Non-Bank Financials Hot

Quiddity Advisors

Event-Driven

Guangzhou Automobile Group / Event-Driven

<ul>
<li>AH premia flat again among liquid names but "beautiful skew" of wide premia converging more than narrow premia continues bigly. It still pays well to be long wide H discounts.</li>
<li>Weeks ago I said, "It has paid to be long the H on those H/A pairs with the biggest H discounts. I would continue to ride that trend." Ride on.</li>
<li>The data tables below update on a daily basis in the <a href="https://www.smartkarma.com/tools" target="_blank" rel="noopener">Tools</a> section of Smartkarma. The <a href="https://www.smartkarma.com/tools/quiddity/south-flow-monitor" target="_blank" rel="noopener">SOUTHBOUND Flow Monitor</a> and <a href="https://www.smartkarma.com/tools/quiddity/ah-shares-monitor" target="_blank" rel="noopener">AH Monitor</a> are both there free for SK readers.</li>
</ul>


AH premia flat again among liquid names but "beautiful skew" of wide premia converging more than narrow premia continues bigly. It still pays well to be long wide H discounts.
Weeks ago I said, "It has paid to be long the H on those H/A pairs with the biggest H discounts. I would continue to ride that trend." Ride on.
The data tables below update on a daily basis in the Tools section of Smartkarma. The SOUTHBOUND Flow Monitor and AH Monitor are both there free for SK readers.


A/H Premium Tracker (To 18 July 2025):  "Beautiful Skew" Continues Some More