Quant Baby Quant

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[Quant Baby Quant @five_reds]

@madhuraja @ajayrotti They did a review earlier and it went up! So that is not ruled out either!

[Samir Arora @Iamsamirarora]

This weekend read The Halo Effect:

The core idea of the book is that when  a company is performing well financially, observers- journalists, investors, analysts- tend to retroactively describe its culture, leadership, strategy and people in glowing terms. When the same company later struggles financially, every previous attribute get recast as a flaw. The underlying reality may not have changed much  but our perception of the cause changes to match the outcome.

I think that India is currently suffering from a negative Halo Effect. Because the market has not done well and needs to be rationalized the observers are finding all possible flaws to try and justify the reasons in hindsight.

If we can separate the current performance from the – in this case negative- Halo, we can better understand whether this poor performance is temporary or something more permanent.

[Ashish Kacholia @LuckyInvest_ARK]

Absolutely agree, Sudhir Bhai. Esop taxation at exercise is bizarre because employees have to run helter skelter to borrow money to pay tax on illiquid shares or founders have to arrange for a loan. Investor wants co to get his money and not go for tax…so Esop grants also tend to get constrained.
Capital Gains Tax at Sale like all other income…this change is overdue to encourage employees take risk with founders for a big pay day
@PMOIndia @FinMinIndia

[Brent Beshore @BrentBeshore]

https://t.co/lI2H8K6rCU

[Niteen S Dharmawat, CFA @niteen_india]

"If you torture the data long enough, it will confess.” Ronald H. Coase

Now consider 6 year period from May 2020 till date. You will get 17.5% what you couldn't in 11 years.

Also, FD interest is taxed differently than equity. Post tax return will further change position.

So the truth may be somewhere in between.

[Cycle Chain Shankar @dakuwithchaku]

An Indian man fell in love with a lady from USA and got married. They had twins and we're living happily. One twin was 1 min elder to the other one. They decided to visit India for the Kumbh Mela. This is where there life changed and they lost one son. They tried for days but the son was not found. Heart broken they left for USA. The lost son was adapted by a person from Kerala and when he didn't find their parents was taken home with them. Being apart but twins both grew up and became chefs. They took part in Master Chef of their respective countries and won. Both of them invented a dish where they put veggies and other things on the bread but never named their dish and they were waiting for the right name. As they were winners in Master Chef and twins the world saw them and read their story and the parents also knew it was their list son. They rushed to India and thier meeting was on Master Chef Episode. Both of them made their signature dishes and brought along. They hugged and cried and submitted their dishes to the judge who couldn't believe they tasted the same. Ditto same flavours. The judges asked them to name the dish.

Both brothers thought that when they met the first words from the US living was 'Bro" and the younger one living in Kerela screamed "Chetta" (Means Elder Brother in Malayalam).

Hence they took both words BroChetta and named their dish Bruschetta. That's how the dish was named.

Follow me for more such deep insights from different parts of life which you'll not find anywhere on the internet.

[Mystic Wealth @MysticWealth11]

Attachment to possessions AND NOT possessions themselves is the SOURCE of MISERY

Paramhansa Yogananda

You can have detached billionaires , detached mendicant. And also Attached hedonic treadmill idiots (regardless of quantity).

@aniketkrishna

[Quant Baby Quant @five_reds]

@CliffordAsness - you would love this ;)

[Jeff Leathers @JeffLeathers]

For the first time ever, buy PE like you buy ETFs.

Announcing the IPO for $USPE

We’re proud to have @RobinhoodApp, @WeBullGlobal, @Public, and many others as selling group members in this historic IPO.

Private equity has outperformed public equity by 1,330% since 2000.*

But for too long, PE has been opaque, illiquid, and inaccessible.

Enabled by a change in regulatory policy, USPE brings institutional PE funds into an exchange traded structure.

No paperwork. No accreditation. No minimums. No lockups. No gates.

Just hit “Buy” or “Sell” like any other stock.

It’s one small tap for investors. One giant leap for PE.

We’ve reserved an IPO allocation for individuals on:
Robinhood: https://t.co/gkMasExacA
Other brokerages: https://t.co/YSsUo6pMgO

Disclaimers below**

[Patrick OShaughnessy @patrick_oshag]

My guest today is Paul Tudor Jones (@ptj_official), one of the greatest macro traders of all time.

He correctly predicted the 1987 stock market crash and shorted the Japanese bubble in 1990. For over 40 years, his flagship fund has had a negative correlation to the S&P 500. 100% of his returns are alpha.

He says today's market has so many similarities to 2000, "the easiest bear market I've ever seen in my whole life."

He makes the case for going long dollar-yen, why Bitcoin beats gold as an inflation hedge, and why he was wrong about Warren Buffett.

But what I'll remember most from this conversation is Paul's zest for life. He's 71 and still wakes at 2:30 every morning to trade the London open. He works out for two hours a day. He walks with his wife every evening. He travels the country chasing peak spring and peak fall. He's so excited about the songs picked for his funeral that he wishes he could be there to hear them.

Paul has lived five lifetimes in one. He's one of the most entertaining and interesting people I've met, and the conversation will leave you searching to be as passionate about what you do as he is about what he does.

Enjoy!

Timestamps:
0:00 Intro
1:00 The Kindest Thing
13:19 Trading vs. Investing
17:33 Lessons from Warren Buffet
22:24 The Existential Risks of AI
29:54 The Nature of Trading
31:46 Bitcoin
35:55 Bubbles
42:08 A Day in the Life of PTJ
46:00 Information Overload
47:07 Passion for Markets
50:49 The Robin Hood Foundation
54:18 The Workless World
56:03 Journalism
1:00:00 Principal Components of a Great Life
1:05:06 Kill Them With Kindness

[Dirt Cheap Banks @dirtcheapbanks]

Called the investor relations line for a community bank trading at 0.6x tangible book.

Rang six times.

“Yello?”

Sounds like a diner. Plates clattering. A coffee machine hissing.

“Hi, is this investor relations?”

“Hang on a sec.”

Phone gets set down on what I assume is a formica counter. Muffled “Earl, it’s for you, somethin’ about investors.”

“This is Earl. I’m the CFO. And the chairman. What can I do for ya?”
I can hear someone ordering hash browns.

“I’m looking at your net interest margin. It’s compressed 40 basis points since last year.”

“Yeah, deposit costs went up. We pay our depositors a fair rate. Half of ‘em are widows. I’m not gonna nickel and dime Maxine for her CD because Jerome Powell had a feeling.”

A waitress laughs at something.

Silverware drops.

“Your loan-to-deposit ratio is only 62%. That’s well below peers.”

“We don’t loan money to people who can’t pay it back. Novel concept these days. We turned down three commercial deals last quarter. One of ‘em went to a bank in Des Moines. They’ll learn.”

“What about share buybacks? You’re trading at 0.6x book.”

“Bought back 2% of the float last year. Quietly. Didn’t issue a press release. Don’t see the point of telling everyone you think your own stock is cheap. They can figure it out or they can’t.”

Someone yells “ORDER UP.”

“Listen, my eggs are getting cold. You got a number I can call you back at? Probably won’t, but I like to be polite.”

Click.

Stock’s up 3% today. Earl doesn’t know. Earl doesn’t care.

[Mark Minervini @markminervini]

Bitterness and spite feel like power, but they’re serious weaknesses—they’re self-destructive.
If you’re truly powerful, prove it.
Love your enemy. Forgive those who wronged you. Banish hate from your life.
Love yourself, and be thankful for being alive.
This is the path to real success—and your best chance at health, wealth, and happiness.

[Mark Minervini @markminervini]

If you are living an angry life, feeling like a victim, and you think you are hurting or spitting others by being unkind or apathetic, you are only depriving yourself of the fullness of life and you are living a lonely existence.
Forgiveness, gratitude and love will free you from the demons that haunt you and make you bitter. 😇🙏
Don't try it... live it and trust it.

[Samir Arora @Iamsamirarora]

Ridiculous.

You can learn from your own limited experience or from the vast experience of others by reading books.

As Charlie Munger said: "You don't have to pee on an electric fence to know it's a bad idea."
You can learn from experience of others.

Read (like most successful investors and others do).

[Quant Baby Quant @five_reds]

@WallStreetApes Boy! Would there be a scheme where one can borrow against some collateral and never having to pay it back! Hmm...

[Clifford Asness @CliffordAsness]

Because that’s why there is food.

[Clark Square Capital @ClarkSquareCap]

Anybody on fintwit looking to hire? Anybody on fintwit looking to be hired? Send me a dm.

About to launch a little project to give back to the community: fintwitjobs.

Would appreciate a RT for visibility!

[Atlas Thugged @AtlasXThugged]

Lee Kuan Yew on avoiding the mistakes of socialist Britain:

[Christian Ruf @pinpulleddrmf]

Veteran buried his eldest and it’s not looking good for his two others.

Posting for any connections, help that can be made while they fight for time.

[𝚃 @T_wontmiss]

24 years old.
Fully paid off Costco hotdog.
It's not "parents money".
It's not luck.
It's consistency.
It's discipline.
I grind EVERYDAY to live this lifestyle.