The annual presentations by @benedictevans are amazing.🙌

So many great insights in the 2021 edition "The Great Unbundling". 🔟of my fav slides in the thread below, mixed with my comments.

ben-evans.com/presentations
1⃣ Differentiating Ecommerce penetration by category is important, as some of these smaller categories and leading Co's within might have a lot more growth left.
2⃣ The various parties in the Digital Ad space. The changes being brought by $AAPL, $GOOG, Gov regulation and being fought by $FB should be interesting to watch in the next few Qtrs, along with how the DSPs and SSPs navigate the environment.
3⃣ The falling Energy costs of Wind/Solar in comparison to Fossil fuels. Such a delightful trend to watch.
4⃣ The Smartphone enabled leapfrogging of 20th century infrastructure (in Payments & many other sectors), especially in Asia is so mindboggling. Huge trend changes in just 5 years.
5⃣ The Jio effect in India cannot be overstated. Democratizing data access at such a low cost for hundreds of millions of people is awesome.
6⃣ Reason why I'm not selling my $MELI shares anytime soon (yes, as long as the thesis holds and improves, I know). 👇
7⃣ "The future has arrived, it’s just not evenly distributed yet.” (William Gibson) is one of my favorite (indirect investing) quotes.

Before diving too deep into the Fin stmnts, it's useful to observe what's happening arnd the world & how it might impact our Co's in the future.
8⃣ Regulation is coming to Tech, in some shape or form soon.
9⃣ but it might be a bigger burden on the smaller Co's, if not carefully crafted.
🔟 Tech : From the fringe to the Core

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More from @RamBhupatiraju

5 Feb
🔟Lessons from my biggest Winners & Losers over time.

Sharing with few FinTwit friends
cc: @saxena_puru @TMFJMo @FromValue @dhaval_kotecha @reshoftc @richard_chu97 @adventuresinfi @7Innovator @investing_city

Open Q to all : What are 1-2 lessons from your biggest winners/losers? Image
Positions listed above (not recommendations)

Winners : $LULU $ISRG $V $MELI $SHOP $W $PINS

Losers : $GILD $STP $SDRL & $RIG
Another mistake we often do is selling Winners and great Co's often too soon, to lock in the profits.

Below is my thread on that topic, but it's only going thru those experiences that improved my process and enabled me to achieve better returns later.

Read 12 tweets
31 Jan
🔟Investing Philosophies I greatly admire. Learning from the best Investing Teams out there (that match your Philosophy/Strategy) and improving your own process is one of the best investing hacks. What are some others that you admire?

🔟of my principles at the end.
⬇️⬇️
1⃣ Buffett : Gotta start with the🐐

businessinsider.com/warren-buffett…
Read 19 tweets
30 Jan
Phenomenal compilation of summaries of🔟important Business/Finance/Investing books. h/t @EdelweissFin 👏
An excellent weekend read.👍

cc: @dmuthuk @Gautam__Baid @saxena_puru

edelweissmf.com/Files/Insigths…
Snapshots of the Key Takeaways of the books discussed.

1⃣ "A Piece of the Action" is an excellent book to understand the Finance Industry evolution in the US.

2⃣ The obvious classic "The Intelligent Investor".
3⃣ Ray Dalio's "Principles"

4⃣ Howard Marks' "The Most Important Thing"
Read 5 tweets
29 Jan
Excellent review of a very important book "7 Powers" by Hamilton Helmer. It digs deep into Competitive strategies of Companies that end up creating Moats and long-term shareholder value.👍

chrisstoneman.medium.com/notes-on-7-pow…
Main pts (Benefits & Barriers) for the 7 Powers.
1⃣ Scale Economies
2⃣ Network Economies
3⃣ Counter Positioning
4⃣ Switching Costs
5⃣ Branding
6⃣ Cornered Resource
7⃣ Process Power
If you're a long-term investor in individual Businesses, having deeper insights into the below are important.

✔️Relationship between the Business & their Customers
✔️How that translates to Economic value for the Business
✔️How the Co is beating Competition
Read 5 tweets
28 Jan
Now might be a good time to read Robert Shiller's "Irrational Exuberance".🧐

cc: @Gautam__Baid @saxena_puru @dmuthuk

✔️Natural Ponzi processes
✔️This time is different
✔️Compounding biases
✔️Herds and epidemics
✔️Rationalizing Irrational exuberance

minervareview.com/irrational-exu…
My fav parts.

1⃣
2⃣
Read 5 tweets
27 Jan
"Poor Charlie’s Almanack" about Charlie Munger is a phenomenal book that should be read by all investors at least once. Excellent summary of that book by @allenxcheng👏

cc: @dmuthuk @Gautam__Baid

Thread below with my fav content.

allencheng.com/poor-charlies-…
Topics in the article ⬇️
Key points ⬇️
Read 8 tweets

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