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

Denso – Thoughts On The Cross-Holdings Sell-Down

Koito Mfg (7276) - New Medium Term Plan, BIG Buyback, Even Bigger Shareholder Returns Planned

Koito Mfg - Stock Over-Pops on New MTMP/Buyback; There Will Be Overhang

Huge Denso (6902) Secondary Sale by Toyota Group - Admiral Ackbar Says "It's A Trap!"

Quiddity Advisors

Equity Capital Markets

<ul>
<li>15 minutes after I published what I thought was a <a href="https://www.smartkarma.com/insights/huge-denso-6902-secondary-sale-by-toyota-group-admiral-ackbar-says-it-s-a-trap" target="_blank" rel="noopener">considered analysis</a>, Denso dumps the details. I thought it might be a trap. It looks like a trap.</li>
<li>A holistic view of the three different documents here suggests, indeed, "It was a trap". </li>
<li>This giant offering is not bearish overhang but likely tilts bullish with greenshoe support, a large buyback, a new cross-holding reduction policy, and the follow-on effects from that.</li>
</ul>


15 minutes after I published what I thought was a considered analysis, Denso dumps the details. I thought it might be a trap. It looks like a trap.
A holistic view of the three different documents here suggests, indeed, "It was a trap". 
This giant offering is not bearish overhang but likely tilts bullish with greenshoe support, a large buyback, a new cross-holding reduction policy, and the follow-on effects from that.


Denso Offering, Buyback, and New Cross-Holding Reduction Policy - It WAS a Trap

Denso Corp

Denso Offering, Buyback, and New Cross-Holding Reduction Policy - It WAS a Trap