My ex-boss. I remember him. I looked up to him. Until one fine day he turned out to be a bigot. Of course he became bolder after...well you know when. And he found he had good company. Over time, I went silent on that WhatsApp group. And now that group has gone silent as fuck. Then there are people I looked up to on Twitter from back in the day. I've been here long enough. Yeah, I un-followed most of them. There is this one markets guy but I muted him yesterday because, well, he was muted in past few days except for platitudes.

My name and address were used for a loan, without my knowledge or consent. I am now being chased by @MobiKwik to repay this loan. Here's what happened. On 13th March, a CIBIL enquiry for a loan was done on my account by Whizdm Finance. My mistake to have ignored it then.

Markets are at all-time highs. I think this is why. Thread. Three things are getting 'factored in' (fancy word for assumed) by investors: a) Modi 350+ in May 2024 b) India GDP at 7%+ for foreseeable future and c) US Fed rate cuts (and RBI) start next year. These are big assumptions.

This was personal. #Pathaan was deeply personal for anyone who loves movies. Here’s why. The kinda hatred piled on @iamsrk is something most of us would have wilted under. Matlab boss. Ruh kaap janti..

The case for buying a house. Hear me out, don't block me. This is an alternate view. House = home, for consumption, self-use. I'm not referring to investment homes.

Shit that no finfluencer tells you on YouTube. Nothing is guaranteed in investing. Only the rate of interest on an SBI FD and a G-Sec is guaranteed by the Govt.

In praise of a job. Myth 1 'jobs suck': People survive and grow out of bad jobs, usually learning something good. And usually? it's the people (around you) who suck, not the job. Which brings me to..

Income - expenses = savings (and investment). Simple tips for all three. Income: salaried job? check your appointment letter, CTC in detail. Max out tax savings using PPF, NPS, etc. keep track of perks, benefits, etc (medical, HRA, leave allowance).

India's biggest consumer finance story of the past decade (F11-21) wasn't startups. It was Bajaj Finance.
Loan book CAGR: 35%
PAT CAGR: 33%
Avg ROE: 20%
Share price CAGR: 111%
VC money: 0
Market cap: US$50bn
(Source: @MarcellusInvest, @BSEIndia) Some learnings:
1. Markets will pay for growth
2. Markets will pay for quality
3. Markets will pay for scale
4. Markets will overpay for high quality + high growth at large scale because...

#longread @indianexpress full page interview with @mybmc Boss Iqbal Singh Chahal (ISC). Here's what stood out to me. indianexpress.com/article/india/… Thread: Oxygen: On Apr16th night, 150 ambulances shifted 168 patients from hospitals short of oxygen to jumbo beds (3600 beds empty, of which 850 beds with O2). No lives lost. "After the operation, I couldn't sleep at all" after which..

Everything that people say about mobs and hatred on Twitter is 100% true. No platform organises hate like Twitter. Thankfully Twitter also helps. And that's what's important right now. Help. So you can keep hating. But remember: help or hate is a choice. Choose well. This is the second day I'm getting pure hatred. Some want my family dead. And that's ok. These are extraordinary times. Their hatred for me is well placed. That's ok.

VERIFIED
21/April, 9.12pm
DELHI
Jyoti Khosla
Age: 65 years
Address: below minto bridge, Gandhi market
Is Covid positive, has a patch in the lungs, low oxygen levels, has a history of diabetes and kidney problems. Needs icu urgently!
Contact: +91 98181 85775 cc @PBnrg @ShutterCrazy

RKD buying Premchand Roychand's bungalow is such a magnificent Bombay Mumbai story. This city really is about money and dreams. Both are big bulls. Both have their fortunes tied to the stock market. PC made it big during the Backbay Reclamation scam, RKD origins date back to Harshad Mehta.

Hottest investment class of next decade in India is startups and it's a pity that retail won't get any piece of the action unless they're founders. more here:

https://twitter.com/b50/status/1368062743568293888

Thread from a conversation with, well, someone who doesn't want to be named. "The amount of money that will flow into startups in India is being wildly underestimated. It will be 1000x public money going into stock markets. I pity retail investors."

"I create nothing, I own" - Gordon Gekko, Wall Street (1987) Do you believe in God, Mr. Le Chiffre?

No. I believe in a reasonable rate of return.

(Casio Royale, 2006)

What portfolio gives you sound 'sleep at night'? A portfolio that consists of great companies. How do you define great? Great financial performance because stock prices follow profits and cashflows. What is great financial performance? India's nominal GDP growth is around 12% (7% real + 5% inflation) so a great company should be able to deliver around 10% growth *every year*. And...

I get the outrage against WhiteHat Jr but sorry guys. Society (us!) says:
IIT-IIM = success
Foreign education = success
Startups = success
Coding = success
Which parent doesn't want his/her kid to be successful? Have you even seen the tons and tons of money that startups attract? And coding is critical in startups. Which parent doesn't want his/her kid to be successful?

Liquidity, return of capital, return on capital are the three basic things that drive any investment decision. Hear me out. Liquidity is access to your money when you want it 24x7. Examples: an FD is extremely liquid, a liquid fund takes one day, PPF is locked in, an investment in your friend's startup is locked in.

Ok a quick thread on equity research since so many people have jumped into equities. Good news? equity research today is more freely and more widely available than ever before. Bad news? most of it is mediocre. There's a reason why they're free.

So you shifted to stocks after you got frustrated with mutual funds? Ok, I hope you.. understood the difference between trading and investing, long term and short term, luck and skill