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

Another Semi-BIGLY Buyback at TOC: STILL an MBO Candidate

TOC's BIGLY Buyback Makes It a Takeout Target

Quiddity Advisors

Event-Driven

<ul>
<li>7 years ago I wrote a big piece titled <a href="https://www.smartkarma.com/insights/toc-s-bigly-buyback-makes-it-a-takeout-target" target="_blank" data-smartkarma-citation="insights:18711" rel="noopener">TOC's BIGLY Buyback Makes It a Takeout Target</a>. I thought the shareholder structure and buyback plans looked like a creeping takeover. </li>
<li>In December 2017, Effissimo had sold a very large stake back to the company. I wrote in March 2018. 10mos later they did another and I wrote <a href="https://www.smartkarma.com/insights/another-semi-bigly-buyback-at-toc-still-an-mbo-candidate" target="_blank" rel="noopener">again</a>.</li>
<li>Since then they've bought back a bit more. Today they are buying back another 5%. It still looks like a potential takeover.</li>
</ul>


7 years ago I wrote a big piece titled TOC's BIGLY Buyback Makes It a Takeout Target. I thought the shareholder structure and buyback plans looked like a creeping takeover. 
In December 2017, Effissimo had sold a very large stake back to the company. I wrote in March 2018. 10mos later they did another and I wrote again.
Since then they've bought back a bit more. Today they are buying back another 5%. It still looks like a potential takeover.


TOC (8841) Buyback Makes One Wonder When The Takeout Comes

Toc Co Ltd

TOC (8841) Buyback Makes One Wonder When The Takeout Comes