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

Japan Apparel Diversification: TSI Tries New Markets

TSI Holdings (3608) - New Year, New Buyback, Still Good, Still Cheap

TSI Holdings (3608) - Yet Another Big Buyback; Still Good, Still Cheap, Now W/ Engagement Investors

Big Apparel in Trouble: TSI Wins on E-Commerce but Closes More Brands

Fashion E-Commerce Has Watershed Year in 2020

Adastria: Japan's “Apparel Market to Shrink by 30% in Next 6 Years”

Quiddity Advisors

Event-Driven

<ul>
<li>TSI Holdings has long had a lot of cash and securities but a dearth of income. It's still that way.</li>
<li>Earnings were pretty good, but forecasts disappointing. The MTP is much more aggressive. </li>
<li>The company has an EV/Revenue of 0.03x and EV/EBITDA of 0.5x. THEN it has a lot more interesting stuff hidden away. This could double or more in two years.</li>
</ul>


TSI Holdings has long had a lot of cash and securities but a dearth of income. It's still that way.
Earnings were pretty good, but forecasts disappointing. The MTP is much more aggressive. 
The company has an EV/Revenue of 0.03x and EV/EBITDA of 0.5x. THEN it has a lot more interesting stuff hidden away. This could double or more in two years.


TSI Holdings (3608) - That Old Gem - Lots of Visible Cash, and Lots More Invisible Cash

Tsi Holdings

TSI Holdings (3608) - That Old Gem - Lots of Visible Cash, and Lots More Invisible Cash