Krishna Hegde

FinTech, Markets, India, Food, Asia. Trust Only Data. Bengaluru Boy. Farmer.

[Krishna Hegde @PositiveGamma]

Perception is reality. Only till it isn't!

[Krishna Hegde @PositiveGamma]

@Karthik287 What is the trigger for rerating ?

[Krishna Hegde @PositiveGamma]

If you had purchased $NVDA shares 2 years ago & sold now, you would have earned a CAGR of less than 8%.

[Priya Karnik(priyak.eth) @karnik_priya]

With the launch of Project Faro, the @qivaliseu and Japan’s megabank initiative, major FIs are actively pursuing stablecoin issuance. Tracking their operational models will provide valuable insights into how these strategies shape the future of global digital settlement

[Krishna Hegde @PositiveGamma]

India has extended the credit guarantee scheme for micro-enterprises on terms that are more favourable that previously. Great for small finance banks & micro lenders.

While the extension was expected, the lower guarantee fee is a positive surprise.

[Krishna Hegde @PositiveGamma]

@izakaminska May be they should introduce GPUs as a line item in FX reserves? Between Gold & Bitcoin ? ;-)

[Izabella Kaminska @izakaminska]

Things I’m wondering tonight: Are we going to discover that the entire AI bubble was in part supported by Chinese demand for backdoor Nvidia chips and surplus dollar recycling into hyperscaler and Neocloud debt?

[Krishna Hegde @PositiveGamma]

@ajayrotti Analyst forgot to enable ROUNDUP(x,-1) in model. So, we have the precise $442 bn forecast.

[Krishna Hegde @PositiveGamma]

@ajayrotti Other states have ceded this revenue pool to F&O.

[Krishna Hegde @PositiveGamma]

@MattJMcClintock @dailydirtnap I also stopped paying dues a few years ago. Benefit was unclear.

[Krishna Hegde @PositiveGamma]

@dailydirtnap I wrote my CFA exams as a way to demonstrate to potential MBA internship employers that I was interested in finance (despite my pre MBA role being technology). It definitely helped.

[Kushal Bhagia 🇮🇳 @kushalbhagia]

In recent years @bitspilaniindia has been criticised a lot for becoming too expensive for the average Indian.

It should now also rightfully be praised for this power move - the Top 1000 BITSAT rankers will basically study there for free on scholarship.

Amazing news!

[Awais Ahmed @awaisahmedna]

300+ Indians have spent years of their lives building satellites and critical technology for this country. They deserve better than having their work and patriotism questioned by manufactured controversies.

I owe them a response. Here it is: https://t.co/vZnnwus4LP

[Krishna Hegde @PositiveGamma]

@pHequals7 TBH Hafta collection probably has better NRR & gross margin than most AI startups.

[Aashish P Sommaiyaa @AashishPS]

Sentiment is one thing, and market performance is yet another. I think if whatever has happened in small and midcap in Oct 2026 (the relative underperformance) continues for some more time, then sentiment for even domestic retail investors will start to worsen. The jury is still out on this.

As far as this being the worst sentiment ever for India, few occasions come to mind. First, in 2008, the mortgage crisis culminated in the global financial crisis emanating from the US. Their market declined 30%. Our market declined over 60%, A mini credit crisis of our own, especially in the real estate sector, followed by capital outflows and it was further followed by terror attacks in Mumbai and India's largest corporate scandal (i.e., Satyam). I heard some experts express utter dismay, "Why should FIIs ever return to India?" On a 1 trillion market cap, 16 billion of selling resulted in a complete meltdown. There is no domestic market, pathetic governance and there is no free float. It's a one-way street. FIIs have learned the hard lessons. They will never invest back into India.

Second, in 2013, India was already dealing with telecom spectrum allocation-related scams (2G), the coal scam, and what was called phone banking. That was followed by yet another corporate scandal, which is related to the National Spot Exchange, and ended with India being classified as part of the Fragile Five because of poor external macro and lack of competitiveness of the economy. In August 2013, Nifty was a full 1,500 points lower than the peak made in Jan 2008, and the rupee went all the way down to the 67-69 range from about 50 a couple years earlier.

Finally, in 2020, in March, when the markets declined with the onset of COVID-19, India was the worst-performing market in the initial decline, nearly 40%. What was the narrative?
- Extremely humid tropical climate
- High density of population
- Extremely poor medical infrastructure
- Poor hygiene and social protocols
India would be the worst-affected economy in the world.

We all know too well what happened after each of these occasions. I have seen India being called a basket case at least three to four times in my 27 years.

I am not too proud about it or sanguine about it, but it serves investors well not to get carried away by extreme narratives.

[Krishna Hegde @PositiveGamma]

@madhavchanchani Chinese demand gets manifested through other markets - esp South East Asia.

[Krishna Hegde @PositiveGamma]

Ven. Borelle Seeladassana was a colleague of mine a long time ago. I am proud of how he has pursued spiritual knowledge at incredible depth and is now sharing it with the world.

[Gajendra Singh Shekhawat @gssjodhpur]

On the auspicious occasion of Abhidhamma Day, I am honoured to share this special message from Ven. Borelle Seeladassana of the Sihanada International Meditation Community, Sri Lanka, expressing appreciation for Hon’ble PM Shri @narendramodi Ji’s leadership and the Government of India’s efforts to preserve and promote Buddhism across the world.

The message highlights India’s initiatives in strengthening the global Buddhist community through spiritual diplomacy, the sharing of sacred relics, and the preservation and promotion of our rich Buddhist heritage. It also celebrates the deep civilisational and spiritual bonds between India and Sri Lanka, united by the timeless wisdom of Buddha Dhamma.

My heartfelt gratitude to PM Shri @narendramodi ji for his visionary leadership and his guiding mantra of “Sabka Saath Sabka Vikas” which inspires India’s commitment to fostering mutual respect, cultural understanding and stronger spiritual ties with the global Buddhist community.

#AbhidhammaDay #BuddhaDhamma #IndiaSriLanka

[Krishna Hegde @PositiveGamma]

@pHequals7 @Gravito841 The SBI Cards rerating over the years has made a full segment unsexy I hear ....

[Krishna Hegde @PositiveGamma]

@ponnappa TIL! Thanks.

[Krishna Hegde @PositiveGamma]

Japanese companies seem to have been hit by a way of hacks last week. Looking at company announcements in English, can spot 5 in just the first screen & there are more as you scroll down.

https://t.co/iMBAMgkCyA

Given headlines from last week, expect many companies globally to have serious cybersecurity breaches - they may not all have disclosed at this point.