Thread by @sohamdas

Going to tweetstorm one of the most impressive guys I have met @Kuntalhshah #MAW @CFASocietyIndia

"experience is a great teacher, but she sends in terrible bills", started @Kuntalhshah #MAW @CFASocietyIndia

Mental Latticework.
Learn from financial history. Very low understanding and appreciation of the discipline. #MAW @CFASocietyIndia

#MAW
"Bubbles and crashes are tornadoes of financial markets" @CFASocietyIndia

Book Recco: "This time it's different"
"Zebra in a lion country"
The institutional imperative to fail agreeably @Kuntalhshah #MAW @CFASocietyIndia

Surprised @Kuntalhshah quotes Walter Bagehot.
This man is one erudite man
#MAW @CFASocietyIndia

Timelines of famous bubbles and catalysts:
1637: Tulip Mania
Price of "Gouda Tulip Bulbs" #MAW @CFASocietyIndia

Joint Stock Company, South Sea Bubble, Mississippi Bubble
Book Recco: "Mississippi Bubble:Memoirs of John Law"

Who's who of intellectual world is being paraded through, those who lost mini fortunes @CFASocietyIndia #MAW Newton, Charles Mackay...

LTCM, Schiller and The fallacy of Efficient Market Hypotheses
@CFASocietyIndia #MAW

Dot-Com Bubble of 2000s, and doubting of Warren #MAW @CFASocietyIndia

2008: Biggest lesson? Stress travels across asset classes #MAW @CFASocietyIndia

What went wrong in 29? Smoot-Hawley Act #MAW @CFASocietyIndia

Absence of countervailing measures by central banks expanded and deepened the crisis #MAW @CFASocietyIndia

#MAW "Bubbles and Crashes are like sequels to popular movies" @Kuntalhshah @CFASocietyIndia

"Outlandish venture get easy funding when money is easy" @Kuntalhshah @CFASocietyIndia #MAW

"Signs of conspicuous consumption and corruption are abound" @Kuntalhshah #MAW @CFASocietyIndia

"Photo chhapi, mala tangi" @Kuntalhshah @CFASocietyIndia #MAW

Signs of Excess and Extremism:
Top Signs and Bottom Signs #MAW @CFASocietyIndia

The 5Cs leads to bubbles, 5Ds are crashes #MAW @CFASocietyIndia

Measuring the current temperature:
"We are in the Goldilocks situation"
Elevated debt levels and rock bottom interest rates, implying very low policy room. #MAW @CFASocietyIndia

"unicorns are supposed to be rare, but they are now dime a dozen" #MAW @CFASocietyIndia

New networks follow Reed Laws, much more powerful models than Metcalfe Law #MAW @CFASocietyIndia @Kuntalhshah

Nature, Business and Psychological are all mean reverting #MAW @CFASocietyIndia

"We need to exercise caution ", warns @Kuntalhshah #MAW @CFASocietyIndia

Inflation can rise suddenly, fed tightening usually leads to crisis. #MAW @CFASocietyIndia

Clip from World War Z, talking about the 13th Man scene. #MAW @CFASocietyIndia

The tenth man, not the 13th. #MAW @CFASocietyIndia

"Avoid groupthink ", concludes and summarizes @Kuntalhshah #MAW @CFASocietyIndia

The impeccable @oraunak asks the best question to @Kuntalhshah "How did you sidestep previous crashes?" #MAW @CFASocietyIndia

"You got to responsible for your actions. Caveat Emptor" @Kuntalhshah #MAW @CFASocietyIndia

@oraunak asks when captains of the industry are themselves susceptible to such emotional upheavals, how do we sieve through them? #MAW @CFASocietyIndia

Business leaders are poor allocators of capital, says @Kuntalhshah #MAW @CFASocietyIndia

Thorndike book "The Outsiders" reccoed by @oraunak
He asks if we have any of our Singletons? @CFASocietyIndia #MAW

@Kuntalhshah sidesteps and refrains from a hero worship of success.
Calls Dr. Kurien, HT Parent #MAW @CFASocietyIndia

Are we seeing a bubble in quality, asks @oraunak? #MAW @CFASocietyIndia
"When the crowd shifts to a ship, that ship will sink", alludes @Kuntalhshah

Idea of embedded expectations #MAW @CFASocietyIndia by @Kuntalhshah

"A business is an unfolding movie" - @Kuntalhshah #MAW @CFASocietyIndia

"I want my companies to be like crab. Resilient and ready to feast at times of crisis" @Kuntalhshah @oraunak #MAW @CFASocietyIndia

There are all kinds of CEOs, penny pinchers, greedy, and gloom and doom guys.
It's a menagerie, says @Kuntalhshah at #MAW @CFASocietyIndia

"Your cost of capital is not the metric that you should be looking at. It's the return expectations of the marginal investor that matters" @oraunak @CFASocietyIndia #MAW

"The game you can play is that of duration"
@oraunak #MAW @CFASocietyIndia

"Current market is separating boys from the men" talking about NBFCs, says @Kuntalhshah #MAW @CFASocietyIndia

"You can't have Christianity without heaven and hell" @CFASocietyIndia @Kuntalhshah #MAW

"Anything not priced properly, will create unintended consequences" @CFASocietyIndia @Kuntalhshah @oraunak #MAW

"Bubbles are characterised by price hikes far steeper than what we have seen" concludes @Kuntalhshah #MAW @CFASocietyIndia @oraunak

HT Parekh and not Parent*. Auto correct error.