Shashi Kant

Student of Mr. Market! GARP Investor!A decade into Equity Research, Multi-disciplinary aficionado. Tweets are neither endorsement nor a recommendation.

[Reads with Ravi @readswithravi]

“Knowledge isn't free. You have to pay attention.”

— Richard Feynman

[Math Lady Hazel 🇦🇷 @mathladyhazel]

Here is a beautiful list! 125 free math textbooks, written by the mathematicians who teach the courses and shared on their own university pages. No sign-up, no paywall, no pirated copies. From high school algebra to graduate analysis. 👇

https://t.co/RHYaBMiKF1

[Harsh Gupta Madhusudan @harshmadhusudan]

This book has grown on me. Still don’t agree with everything obviously but I remember reading it, nay perusing it, two decades ago basically with the intent to disprove or discredit it. The very title “state directed development” was like a red flag to my young libertarian self.

[Amit Kumar Gupta @amitgupta0310]

@EkanshMittal_KW Chemicals peaked out in 2021, 5 yrs of time and price correction now in most names. FY28-31 can be good given how capacities are there. Demand is an unknown but margin expansion can come with operating leverage.

[Ekansh Mittal @EkanshMittal_KW]

A lot of stocks peaked out in 2021-22 instead of 2024 and have gone through massive de-rating

Some are trading around 2019 valuations in terms of earnings, price to book

This basket of stocks, especially those that have created growth capacities might do well over the next 3-4 yrs

[Aswath Damodaran @AswathDamodaran]

As Anthropic's IPO nears its target date, it it worth remembering that IPOs get priced, and that as a young company with growing revenues and big losses, that pricing will be based on metrics that are buzzy and unfamiliar, from eyeballs in the dotcom era to users in the social media decade to ARR with AI companies...https://t.co/5DXmDGcSTf

[Shankar Sharma @1shankarsharma]

" Indian Reserves are not a war chest. They're a powder keg"

" Equity Markets don't owe you anything: a profit; a return of your capital. And definitely not a Return on your capital. They don't you a living. But they have made excellent livings for all the folks involved in selling equity products to small investors. "

" Equities aren't for the masses. Returns are sparse for years, volatile , sudden and sporadic, little predictability. Hence, they are meant ONLY for the Classy".

" I have always believed and said that stock market isn't for general janata/ awaam. It's a game for pros, and should remain with pros or with people already wealthy through other means"

" It's time the Govt. belled the MF equity cat: Govt is disincentivising Gold because it's a drain on FX.
Well, we import around $60 billion of gold pa.
And through SIPs, we have allowed knife through butter exits to Foreign Capital of around $50 billion last 12 months, around $80 billion last 24 months. Both gold and SIPs are resulting in massive similar dollar outflows so penalise ONLY gold?"

" In my recent article in Business Standard, I analysed that in 35 years since 1991, our external resilience percentile rank has moved from 42 to 45. It's a tragedy that we still exhibit every characteristic of a classic Emerging Market: extreme dollar shortage, crashing currency, rising rates, firefighting at any global crisis "

My interview to Mint today.

[Anup Soans @anupsoans]

Almost every single modern processed/packaged food is a direct contributor to metabolic disorders and NCDs

Yet, hardly any major call-out by the medical fraternity 👇⚕️🩺🏥🚨📣

[The Scientific Lens @LensScientific]

Every known physical process involves four fundamental interactions. The strong interaction binds quarks and nuclei. The weak interaction changes particle identities and enables beta decay. Electromagnetism builds atoms and chemistry. Gravity organizes planets, stars, and galaxies.

The first three are described by quantum field theory. Gravity is described by general relativity. Bringing all four into one consistent framework remains one of physics’ deepest unsolved problems.

[Vala Afshar @ValaAfshar]

KOBE BRYANT’S 10 RULES:

Get better every single day
Prove them wrong
Work on your weaknesses
Execute what you practiced
Learn from greatness
Learn from both wins and losses
Practice mindfulness
Be ambitious
Believe in your team/yourself
Learn storytelling

[Shyam Sunder @ShyamNation]

"Premium" in India is a scam. At best, it means it is sold in a nice showroom or has differentiated packaging. A premium product could actually be worse than the regular variety because not enough people have bought and reviewed it.

[Congruence Advisers @CongruenceA]

Introducing a new series of posts on our substack

"Antithesis: Why we did not invest in a stock, though we saw potential?"

Too much content today putting a positive spin on stocks, but not much analyzing stocks critically

First stock in the series - Entero Healthcare

[The Scientific Lens @LensScientific]

Scalars, vectors, matrices, and tensors are different ways of organizing numerical information. A scalar is a single value, a vector is an ordered list, a matrix uses rows and columns, and tensors extend this idea to higher-order arrays.

These structures are the basic language behind much of modern mathematics, physics, engineering, and computing.

[Fundoo Professor @Sanjay__Bakshi]

“Used actively and with intention, AI is more than a functional productivity tool. It advances what a single person can take on: a young professional fluent in digital tools for research, analysis, and execution can now do work that once needed a team

Think of AI as a huge, tireless brain holding answers to almost any question. But what to ask, within which constraints, and what to look for in the answer, is the part only the human can direct. Framing the right problem requires giving AI the right history and concerns. The quality of the answer is, in the end, governed by the quality of asking. For curious minds, that is an ever‑present opportunity: to expand learning, go deeper across topics, and follow an idea further than was ever possible before.”

[Anirudh Sharma @anirudhnsharma]

Incredible things happen when small teams own hard problems.

We needed to track thousands of objects in orbit. Adding more telescopes wasn’t the right way to solve, we need something more. So five people, including three interns, went back to first principles to solve for the scale problem.

A few months later, MOSAIC is watching the sky from the Himalayas.

Kudos to the team. This is what a generation of builders looks like. 🇮🇳

[Dr Arvind Virmani @dravirmani]

India's 🇮🇳 democratic, market economy will produce, a million deep tech startups. That's how we will compete with PRC 🇨🇳 and USA 🇺🇸 . Have faith, have patience, and trust our young entrepreneurs.

[Yug @Yug8912]

India's Defence Minister George Fernandes has this infamous story where he literally packed the Babus in flight to Siachen glacier because they were sitting lameduck on files for procurement of snow scooters for soldiers.

Similarly, Nirmala Sitharaman on record stated how Govt wanted to exempt income upto 12 lakhs much earlier but senior Babus resisted.

Indian Babus are the infamous Deep State who have throttled every possible development, growth story of the Republic. They had the biggest hand in keeping this country poor, dirt.

[Ian Cassel @iancassel]

From 1967 and 1995, Steinhardt Partners compounded capital at 24.5% CAGR (Net) compared to 10.96% for the S&P 500 Total Return Index. To put in further context, Warren Buffett took over Berkshire in 1965. Berkshire’s performance from 1965 to 1995 was a 23.6% CAGR.

Steinhardt was a fundamental stock picker, but he was short-term. He was also a top-down macro trader. He also shorted. He was so different. He didn’t fit in a box. He was a savage.

https://t.co/MSKKBHqph8

[Suhaas Bhat @bhat_suhaas]

As models get better and better at mathematical proofs, I've been thinking about this classic blog from Terence Tao, on the stages of mathematical maturity, from pre-rigorous (intuitive, unable to use formalism) to rigorous (able to use formalism to manipulate mathematical objects), to post-rigorous (intuitive understanding of mathematical objects, formalism is effectively subconscious).

My impression is that models today, although seemingly excellent at proving mathematical theorems, are still in the rigorous stage, and are doing more formalism manipulation than intuitive mathematics. And I wonder whether RL-ing on lean proofs can lead to models that think "intuitively" about math. Does this match the understanding of folks in the field? And if so, is there a way to precisely define what "mathematical intuition" would look like in a model?

Blog: https://t.co/4W8t9JMx4w

[The Math Flow @TheMathFlow]

Six segments, six lengths, six curves - one turning radius.