Thread by @_ThirdSide_

For all you brainy chaps who are buying Bharti Airtel in the hope of an end to the price war, please do remember that you are buying the company at its PEAK Market Cap #Nifty

Oh! did I mention that the current PEAK market cap of Bharti Airtel already factors in an end of price competition with Jio (as if it ended today) BUT has the competition ended? And, what's the Jio management repeatedly saying? #Nifty #BigShort?

Final nail in the coffin on why Bharti is the #BigShort. Not only is its peak market cap already factoring an end of competition without any sign of it. It has also been selling assets so one needs to look at proportional EBITDA. Peak market cap for FY13 EBITDA in FY21. 😂#Nifty

On Bharti Airtel, just FYI my Revenue & EBITDA estimates for forthcoming 2QFY20 results (without Ind AS 116 adjustment) 20,535Cr (1.9%YoY) and 8,520Cr (48%YoY) respectively. After Ind AS 116 adjustment, EBITDA estimate is 7,007Cr (11%YoY)

Also, just to be very clear, these are NOT RECOMMENDATIONS. PLEASE DO YOUR OWN WORK. Merely highlighting a fundamental view on the stock

Continuing on the thread on why Bharti Airtel is such a great short. Investing-101 underscores that thou shall not sell your winners to fund your losers but see what's been going on. Also, a sale in desperation doesn't fetch the best price. Its value destruction! #Nifty #BigShort

There are many ways to highlight that not only Bharti Airtel is a sub-par asset when it comes to performance (has burned 35,000Cr cash since FY08) but is also massively over-valued. Even a return to its peak cash flow generation justifies only half its market cap at best #Nifty