Scroll Down To Watch Video Detail...
symphony financial partners was set up by david baran and kazuhiko shibata. david has been living in japan for over 20 years and is fluent in japanesefounders' expertise included equity trading, arbitrage, corporate advisory and m&a.unique strategy: unlocking value through catalysts. why japan isn't an asset class.hedge funds reap profits as many global investors have left.best opportunity: listed company with high probability for m&a activity.avoiding value trap by creating catalysts to unlock value. improved legal framework led to steady increase in m&a activity in japan over last 10 years.cheap financing available as japanese banks discovered m&a as profit center.japanese firms are so cash rich that often banks lend against cash.more mbos, average premium is 50% (!) and sometimes triple digit. sinfonietta: achieving substantial returns in low risk asian macro portfolio.having traded japan through bubbles, bust and deflation gives managers unique edge what to do when "all assets go bad" and correlate. bright outlook for sfp value realization fund as japanese management cooperates to unlock shareholder value.sinfonietta: "geared towards a disorderly market", set up to always consider tail risk and at least be neutral in falling markets.bearish view on asia - "white swans are everywhere:- small reduction in risk assets (withdrawals) can lead to large price changes- historical volatility and volumes includes now gone prop desks - a risk not priced in.
