Samir Arora

[Samir Arora @Iamsamirarora]

@balakoteswar But we all only go for big movies and there are not enough of them

[Samir Arora @Iamsamirarora]

While insisting in our investment thesis that Movie theatres have been disrupted by OTTs etc saw 3 movies in theatres in last month or so:

Toy story- BAD
Disclosure day- totally forgettable
The Odyssey-Good

[Samir Arora @Iamsamirarora]

@RishabhVir16528 It is

[Samir Arora @Iamsamirarora]

@eshers @unseenvalue That is why I said BuY not HOLD😀

[Samir Arora @Iamsamirarora]

Brilliant lines from @unseenvalue

..Markets do not punish you for being wrong. They punish you for staying wrong. Every investment thesis eventually collides with reality. A cost advantage erodes. Customer behaviour changes. A management team that once allocated capital well begins chasing growth for its own sake.

The question is never whether your thesis was right on day one. It is whether you notice, quickly enough, the day it stops being right.

Most portfolios do not suffer their biggest damage from poor ideas. They suffer from good ideas that were never re-examined.

(now my version: IF you or your fund manager continues to buy the same stocks again and again. examine whether it is conviction or just plain unwillingness to re-examine the idea).

[Samir Arora @Iamsamirarora]

For Indian family offices and high networth individuals who are investing more and more in PE funds (based on past returns, not so much in India but in US) the following headline is enough advice:

From Today's WSJ
Private-Equity Assets Stuck in ‘Zombie Funds’ Are at a Record High
(Funds are outliving their intended lifespans as fund managers struggle to sell the remaining assets)

[Samir Arora @Iamsamirarora]

@rahulnambiar I have enough funding available in singapore but I was trying to figure out if all these issues will prevent India from getting 50 60 billion through fcnr or not

[Samir Arora @Iamsamirarora]

What does that even mean- Singapore NRIs pay withholding tax to whom. You mean individuals deduct 10% tax and give to govt. That would reduce interest payment to the GIFT city based entity, not increase cost for NRI. Anyway looks like complete nonsense to me.

It looks that anyone negative on India currently tries to prove that FCNR and other flows not happening so that confidence is shaken and that is why you are getting new negative stories on this FCNR scheme every day.

[Neil Borate @ActusDei]

Today @sugataghoshET writes a pretty solid piece in ET. 1) Singapore NRIs have to pay 10% withholding tax if they take the loan for the leveraged FCNR product from a non-Singapore location like GIFT City. It can kill their return.
2) US NRIs have to pay full US income tax and US Net Investment Income Tax (a bit like a surcharge on investment income) apart from a 30% withholding tax on the interest they pay.
Europe, UK, Australia and Canada have their own taxes.
So your FCNR scheme boils down to middle-east mainly.

[Samir Arora @Iamsamirarora]

@balabr Thank you for your detailed response. Best

[Samir Arora @Iamsamirarora]

@balabr Does that mean that people in Singapore doing margin trading on Interactive brokers and other non SG brokers are withholding taxes on the margin loan they take- I do not think so

[Samir Arora @Iamsamirarora]

@rahulnambiar Individual is not sending out any money from Singapore for this interest paid for it will be netted against interest received. Anyway good to know- I better stick with SG banks

[Samir Arora @Iamsamirarora]

@dsharma9 your numbers are all wrong- do not worry. NRIs know what rates they are getting

[Samir Arora @Iamsamirarora]

This is a normal mistake that many make. This difference is because when companies pay you interest they take a tax deduction (and therefore save taxes) and that is why you are taxed instead. In equities the other side does not get to reduce her taxes only because you make some money or get dividends.

[Samir Arora @Iamsamirarora]

@shaileshs219 @_prashantnair If LLM companies see that that gives more comfort to the companies they may do that anyway or may be doing it already. Obviously they will have to give comfort to the large clients that there IP will not be stolen.

[Samir Arora @Iamsamirarora]

@ashish_350 ufffff

[Samir Arora @Iamsamirarora]

This is from the TechM call.
If anyone can help figure out the companies that are doing these deals or offering these deals, it would enormously help our long short fund.
Thank you

[Samir Arora @Iamsamirarora]

@muksharm I agree- but who are the others offering these deals

[Samir Arora @Iamsamirarora]

@bayalis He is CEO, talking on official conference call and not saying 70%- he is saying 70% to 80%.

[Samir Arora @Iamsamirarora]

@bayalis If it was the norm, why is the Management shocked and saying they will not do