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

StubWorld: Stay Long Digital Garage (4819 JP)

[Japan M&A] EQT+DG Up Their Kakaku.com (2371 JP) TOB Price by 15% to ¥3450; Bain Needs To Bump

[Japan M&A] Bain Overbids EQT by 2+% and 5.5+% Depending on KDDI Agreement. Market Wants More

[Japan M&A] Likely Bain/LY Overbid for Kakaku.com - STILL Not a Done Deal

[Japan M&A] Bain/LY Show Their Cards on Kakaku.com (They're Good Cards Brent)

[Japan M&A] EQT Launches TOB on Kakaku.Com (2371) But This Isn't A Done Deal

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/digital-garage-inc" target="_blank" data-smartkarma-citation="entities:13747:1" rel="noopener">Digital Garage (4819 JP)</a> got very exciting when an activist got involved. The less so when that activist sold its shares to <a href="https://www.smartkarma.com/entities/resona-holdings-inc" target="_blank" data-smartkarma-citation="entities:6841:1" rel="noopener">Resona Holdings (8308 JP)</a> at a fat premium.</li>
<li>DG lost its driver. Perhaps Resona is a longer-term catalyst but it's unclear. Given they are down 60% so far, they may be looking for new blood. Hayashi-san is 66.</li>
<li>Now Digital Garage's big equity affiliate stake asset will turn into cash. This is real value. It has been but this deal will double (or more than double) BVPS.</li>
</ul>



Digital Garage (4819 JP) got very exciting when an activist got involved. The less so when that activist sold its shares to Resona Holdings (8308 JP) at a fat premium.
DG lost its driver. Perhaps Resona is a longer-term catalyst but it's unclear. Given they are down 60% so far, they may be looking for new blood. Hayashi-san is 66.
Now Digital Garage's big equity affiliate stake asset will turn into cash. This is real value. It has been but this deal will double (or more than double) BVPS.


[Japan Event] Digital Garage (4819) Is The Wrong Price