Bill Gates, Mark Zuckerberg, and all those you think dropped out of college, DID NOT DROP OUT OF COLLEGE. Get the facts right next time someone quotes that.
There's a concept called "LEAVE OF ABSENCE". Zuckerberg wasn't sure Facebook would work out. He took a leave of absence one fall, hoping to return to college for Spring if things didn't work out.
Bill Gates actually took a Leave of Absence, things didn't go as he wished, he came back for a semester, then took a semester off, and then another semester off, and things picked up and he didn't go back to college to complete the degree.
Some colleges give you 5 years, some give you 7 years, some more, depending on the college, university, and country. Those who actually "DROP OUT" like today's youth thinks, giving a middle finger to the university and bolting away - that rarely ever happens.
Especially, these billionaires didn't get there by taking hasty and stupid decisions like that, with unhedged risks. They protect their downside first. That's what Zuckerberg did when Peter Thiel came onboard, and he took a leave of absence to see if it will go somewhere.
So, next time you or someone you know says "Bill Gates dropped out. Zuckerberg dropped out. Why shouldn't I? I'll become a millionaire too!", smack them on their head, and out of their angelic fantasy.

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More from @theBuoyantMan

28 Oct
PVR weekly chart.

Looks like unseen volumes have come into PVR post april.

Usually such volumes are associated with institutions. Image
If you look at the big drop in march, the volumes aren't that high. Marginally higher than usual/average, but not significantly high enough to consider institutional selling.

But look at the circled region after april. That looks like institutional activity. Image
Two possibilities:

1. Institutions are betting on PVR as a contrarian bet and accumulating it.

2. Institutions are realising that PVR is junk and selling it to naive retail buyers.

Let's see what's happening.
Read 16 tweets
28 Oct
2 ways to earn money online:

1. Share your experience and help people save time:

Cutting learning curve, learning about potential mistakes, pointing towards the better sources of information to learn things from, preventing people from spending on useless workshops, etc.
2. Share your experience and help people save money:

Sharing cost effective ways to achieve x, cutting cost where possible without cutting quality, achieving x goal in less than average expected cost, preventing monetary losses due to avoidable mistakes, etc.
This sharing can be in the form of:

- E-Books
- Independent Courses
- 1-1 mentorship
- 1-many mentorship
- Video lectures
- Paid Slack/Discord channel membership
- Teachable/Skillshare/Udemy courses.
Read 4 tweets
27 Oct
Interpretation of Financial Statements - preliminary filters.

1. Looking for sustainable competitive advantage:

When looking for sustainable moat, you wanna see consistency - in earnings, in having low debt, in having growing earnings, low spending in capital expenditures, etc.
The longer the company has existed, and if it sells you the same product for years (like Coca Cola), it reduces production costs and other costs (R&D, Training, marketing) slowly as the company ages.

When costs are reduced, margins and profits increase.
2. What to look for in an income statement:

Let's take a look at Apple:

i) You want to see earnings grow at a steady pace. Take a look at the net income below. Image
Read 25 tweets
27 Oct
How to calculate average points per trade of a system:

Assume only 5 trades (for illustration purposes) in the system:

Trade 1: +300 points
Trade 2: -180 points
Trade 3: +70 points
Trade 4: -130 points
Trade 5: +100 points
- Total points made: (300-180+70-130+100) = 160 points
- Average points per trade: 160/5 = 32 points.

So, when I say in the example (in the thread linked above) that the system makes on average 200 trades a year, and 29-30 points per trade in BNF, what do I mean?

Average points made per trade in BNF over the 200 trades.

That's what I mean.
Read 6 tweets
27 Oct
If you really want to learn from someone on social media, you don't have to pay for their courses or any special access programs.

Like Ekalavya, you can consume with intent whatever your self-assumed Guru puts out in the form of content.
When you use a bit of common sense, reverse engineering, and connecting the dots as a practice with all that they post, you can figure out with 95-98% what they do, how they do it, why they do it, etc.
When I initially started moving towards systematic trading, I read all of @madan_kumar's tweet threads, blog posts, zerodha qna interview and its comments section, his threads on traderji forum, etc. Those have the best insights most of which he likely condenses in his workshops.
Read 10 tweets
26 Oct
Independent theaters are going to survive Covid better than the franchises like Inox and PVR.

Independent multi-screen, privately owned theaters are likely to be self-owned(including building) by the owner group and must have contained the damage during covid early on.
Theaters are going to co-exist with OTT. The side-effect of OTT would be a slight/marginal reduction in piracy.

But people are never not going to go to theaters. A movie like Interstellar, Tenet, Endgame, Fast and Furious 7, Kaithi, etc., deserve a theater watch.
So, theaters are here to stay. Just that, I feel that independent and privately owned theaters have a far better chance of survival than the publicly listed franchisee type theater groups. Interesting times ahead to be witnessed.
Read 5 tweets

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