Phantom😎

Markets | Memes | Movies | Masti
(In that order)

[Sahil Kapoor @SahilKapoor]

Tejas Shah of Avendus Spark shared his framework to value FMCG businesses in the 5th Anniversary Edition of DSP Netra - Process Knowledge

1. No single lens is sufficient. The right method depends on the business, the cycle, and what you’re trying to measure.

2. TINA factor: Re-rating of FMCG stocks is largely a macro phenomenon, driven by the market's broader risk-on/risk-off positioning rather than sector-specific earnings performance alone

12 out of 18 large cap consumption stocks suffered valuation multiple derating over the last 7 years.

NIFTY FMCG Index have underperformed the NIFTY Index over the last 7 years (FY19-26).

[Jyothi Varma @djkvarma]

Years ago, I was on the sell-side. Some scars heal. Others become datasets.

The most important question on an earnings call is not about margins, guidance, or capex.

It is: “Am I audible?”

We analyzed 989 India earnings calls, 7.7M words, and 26,972 analyst question loops from Q4FY26.

The result: a slightly obsessive, AI-generated-but-human-debugged map of what corporate India actually talked about.

Middle East risk. Raw material anxiety. AI everywhere, revenue nowhere.

And the sell-side still doing what it does best: politely saying “help me understand” when it means “I don’t believe you.”

Read it here: https://t.co/zLNVs2VkfN

Disclosure: this post was AI-generated. Sadly, the memories of asking three follow-ups after “just one quick question” are entirely human.

[Phantom😎 @phantomfunda]

Interesting

[Anthropic @AnthropicAI]

The US government, citing national security authorities, has issued an export control directive to suspend all access to Fable 5 and Mythos 5 by any foreign national, whether inside or outside the United States, including foreign national Anthropic employees.

The net effect of this order is that we must abruptly disable Fable 5 and Mythos 5 for all our customers to ensure compliance.

Access to all other Claude models is not affected.

We apologize for this disruption to our customers. We believe this is a misunderstanding and are working to restore access as soon as possible.

Read our full statement: https://t.co/bwn0sximKZ

[Phantom😎 @phantomfunda]

If Christopher Nolan's films make perfect sense to you, you're probably ready for this interview. 😄

https://t.co/oj2o6zBR06

[Pragati Aggarwal @PragatiAggarwa8]

5 Years of DSP Netra.
5 asset classes.
Released on the 5th.

This edition, built on years of learning.

[Phantom😎 @phantomfunda]

A story worth telling, told exceptionally well. Top-notch production and performances, with the sheer audacity of the vision matched by flawless execution. Definitely Worth a binge watch !

https://t.co/T6gDLn2LyP

[Phantom😎 @phantomfunda]

Modern Day Ramsay Bros - Dario - Altman ! Horror specialists !

[Vivek Sen @Vivek4real_]

ANTHROPIC CEO DARIO AMODEI: “50% OF ALL TECH JOBS, ENTRY-LEVEL LAWYERS, CONSULTANTS, AND FINANCE PROFESSIONALS WILL BE COMPLETELY WIPED OUT WITHIN 1–5 YEARS.”

[Phantom😎 @phantomfunda]

“S&P 500’s long-term average return is ~10%, yet it has rarely delivered annual returns between 8–12%.” — Howard Marks on @nikhilkamathcio
The average is calm. The journey oscillates between greed and fear.

[Phantom😎 @phantomfunda]

Perseverance in numbers -
0 to 7 to 77 to 207
#WBResult2026

[Phantom😎 @phantomfunda]

Not too far out, white-collar productivity won’t just be what you produce with AI, but how efficiently you produce it.

- By output per AI token consumed. Tokens will be the new cost center.

[Mangalam Maloo @blitzkreigm]

Titan in Focus

MD Ajoy Chawla’s first strategy outlook post taking over!

He speaks about his vision, growth, categories that’ll lead, strategy with BeYon and a lot more!

Do watch it, I await your feedback!

@CNBCTV18Live @TitanCompanyLtd #FMCGisLife

https://t.co/1YqVDUrYwH

[Phantom😎 @phantomfunda]

Crude (115) + US$ (94) north of 200 - territory we’ve never seen before !

[Phantom😎 @phantomfunda]

Crude at $105+. FIIs pulling out ₹50K+ Cr in April so far!
And yet—when the market decides to run, it runs.
Because its primary job isn’t reasoning… it’s humbling the consensus ! :)

[Phantom😎 @phantomfunda]

Their life wisdom is far more underappreciated than their investing wisdom !

[Ronit Pereira @CAronitpereira]

“If you want to ruin your life, spend it trying to change your spouse’s behaviour.”

- Charlie Munger. 2013

[Phantom😎 @phantomfunda]

...look at what our neighbor is doing ...but why bother. Let's focus on the dress code controversy of our retail cos. India is suffering from massive 'Growth ADHD' !

https://t.co/9tHueyqLso

[Phantom😎 @phantomfunda]

Mamla Legal Hai S2 is writing at its finest - the range of themes, emotions, and nuance are truly top-tier.
Every dialogue, sarcasm or serious, feels sharply crafted and intentional. And full credit to the casting team, even the monkey seems perfectly cast
@NetflixIndia

[Phantom😎 @phantomfunda]

Hello Baccho on Netflix is a simple and inspiring story. A must watch.