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Devil's Advocate IN @jaganmsna
, 3 tweets, 1 min read Read on Twitter
A must read on EVs. Sobering and down to earth view on how EV disruption may pan out .
bloomberg.com/opinion/articl…
If EVs are to become mainstream through subsidies (as the Bloomberg write up argues) then we can safely say that EV revolution will go only as fast as Government capacity to increase money supply goes. And it will never be a high ROE game - 1
And EVs will take off early only in countries where guvt has surplus revenues or high Tax to GDP ratio (like Gulf, Europe, Russia). India will not see much traction on EVs. Incumbent Autos in India will stick on for quite some time IMO.
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More from @jaganmsna see all

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A simple sample to understand Value Investing !! 👇👇
So, here it goes . Year 2000, a fancied stock in fancied sector vs a government company in a little liked sector . Next 7 years, who outperformed ? That is contrariness explained ! - 2
Roll over to 2018. We have the same Bharat Electronics in some Commodity /Utility/Capital Goods/Auto/Financial sector businesses.
We have same Visual Soft in several "Quality" Consumption businesses.
So what happens to both sides, in the next 7 years ?
You decide !!
Read 3 tweets
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A PE of huge size invested in an Indian stock (during bull run) and that made many small investors invest. The stock has now collapsed. Now where is the fault : PE fund or the small investor ? Think.
(Thread continues)
The Name is not relevant , be it OE fund or the stock. The PE fund is headquartered abroad and has 100 billion $ AUM. This investment would be not even 0.01 % of their AUM !
Now consider our LIC. AUM of over 400 billion USD and 70% of it in debt (to Guvts). Now they invest some 2 billion $ in IDBI bank to help owner (Guvt) do investors go and buy IDBI bank next day ? No, we condemn LIC !
Why not same for PE funds and their India bets ?
Read 5 tweets
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Some data on Copper usage in an EV in this tweet !
Looks to me that biggest deterrent to EVs capturing market share may be availablity of reasonably priced Copper !!
Having said this : I believe that once EV demand market for Copper becomes established, a lot of Copper usage in other demand markets (power transmission lines etc) will switch to Aluminum. This is already happening but will be on bigger scale.
Net Net, EV will lead to large demand increase on some commodities - Copper, Aluminum (for making lighter vehicles to reduce payload), Lithium.
Lot of plays over there. Huge cost swings on this inputs will make adoption not as easy as people imagine to be !
Read 3 tweets

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National parks face years of damage from government shutdown on.natgeo.com/2F6OGiL
One of the Trump administration's first moves was an attack on the national parks. I first wrote about it in January 2017.
Anyone who follows me knows thast for the past two years, I've been taking my kids to national parks every chance I get -- under the assumption that they'd be destroyed or sold off during Trump's term. Breaks my heart that this theory bore out. theglobeandmail.com/opinion/articl…
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⚠️ WARNING ⚠️ How Low Will The Dow Go⁉️ Stock market crashes to 22,000 after ⁦@stevenmnuchin1⁩ spooks investors. @realdonaldtrump told Mnuchin to call the banks. JFC -AMATEURS ‼️
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📉Market manipulation?
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1/OK, I should really write another thread about university-centric regional development, because I think people often make some (very understandable) mistakes when thinking about this issue.
2/The biggest myth, I think, is that universities help regions by educating locals as undergraduates.

Skeptics of universities say: "But most of the people who graduate end up leaving."
3/In fact, most of what a university does for a regional economy is NOT about educating local kids.

Educating local kids is good for the nation, but doesn't help a region much.

The way a university helps a region is through RESEARCH.

bloomberg.com/opinion/articl…
Read 16 tweets
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bloomberg.com/opinion/articl…
gefira.org/en/2018/11/16/…
Steve Bannon is smuggled into the Oxford Union through the snowflake mob
Police officers in full riot gear were needed to get him inside
(Video)
dailymail.co.uk/news/article-6…
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