Liked this article - What Has Living a Year With SARS-CoV-2 Taught Us? - The Wire Science
Will try to find and read their book.
Lot of panic is spread by the reports of shortage of remdesivir (which itself has a very narrow use for covid), requests for blood plasma which is not proven to be effective at all. I feel in such times patients families are unnecessarily made to endure and procure injections etc just to show some activity is happening.
Financial Literacy 15 | Psychology and Finance by Mr. Sanjoy Bhattacharyya
âEven with nearly 40 companies, only 8 survived. And just those 8 gave us superlative returns over 20 years. If you valued the entire 40 companies in 1997, the return even with a low survival rate translates to 17.7% a year in 24 years â a 50x return.â
This article shows the true power of compounding and how even with little investments we can have huge returns overtime. Even small investors like us can get returns if we just hold on to good companies with good managements and let compounding do its work.
The full collection of the
NOMAD INVESTMENT PARTNERSHIP LETTERS TO
PARTNERS
Fund was managed by Nick Sleep and Qais Zakaria
2001 â 2014
Another good interview of Barbara Ann Bernard
THIS IS THE COLLECTION WRITTEN BY ME ON ZOMATO: https://twitter.com/manujindal2803/status/1388456226753716226?s=20
Interesting talk on the use of asset allocation in reducing volatilityâŠ
While scouring the internet for buffetâs thoughts on inflation I hit jackpot.
Includes his thoughts over many years on the topic.
http://csinvesting.org/wp-content/uploads/2015/01/Buffett-inflation-file.pdf
Drivers of Disruption | Michael Mauboussin
Tips: Watch for 30 minutes â unfortunately in Q&A host took guest to stock market discussion than Industries & Companies discussion.
Abstracts:
A. Number of synapses will grow in child from 0 to 2 yrs and then gradually decreases till adult age and than its stable.
As per author same happens with industries.
As e.g. US Auto industries:
From 1895 to 1920 there will be 70-80 companies which gradually decreasing till 1960 (about 10-20)
E.g. US Personal Computer industries:
From 1976 to 1987 there were 100 companies which gradually decreasing to 4-5 companies in 1992. However revenues of those remaining companies increased; which is something like winners takes all.
E.g. Electric Vehicle:
Itâs stared from 1995 and at present in 2020 there are 100 companies.
B. US companies going from Tangible to intangible investments.
In 1980 US has 5% companies with negative net income (author taking about free cash flow â Operating cash is positive, post investment itâs negative cash flow); currently about 50% companies has negative net income. E.g. initially Wal-Mart has negative free cash flow for 15 yrs.
Intangible investment includes: Software. R & D, Training etc.
Microsoft: 2020, NOPAT was $ 48 B, out of that itâs investment is $ 10 and $ 38 us FCF.
In 2020, MST spent 44 B = 19.3 B in R & D, 19.6 B in Sales and 5.1 Admin exp
Hence itâs generating lots of intangible assets.
C. Interesting characteristics of tangible and intangible assets
Tangible assets are rivalry (means used by one person at a time; pen in your hand).
Also tangible assets are excludable (limited usages)
E.g. Rival & Excludable (Cloths or own car)
Rival & non-Excludable (Bike sharing or public transportation)
Non Rival & Excludable (Software or patents)
Non Rival & Non Excludable (Open source software)
D. 4 Character of intangible assets:
Scalability: High upfront cost but low incremental costs (Software or music)
Network effects: Social media (Whatsapp or telephone)
Sunkenness (Submerged): Tangible assets retain more resale. Like real estate retains its value longer. Whereas non-tangible may loss value drastically.
Spillovers: Intangible assets are easily imitated (Copied)
Synergies: Innovation arises from combining existing technologies
Implications for investors:
Earning relevance for Top spenders are negligible vs 30% earning relevance for bottom spenders. It means market reacts less of earning for top spenders.
Traditional measures like PE or PB fails to see large disruptions.
EndâŠ
Very interesting insights on Vaccine producers and the current context on Covid mgmt 
A very good read indeed. Recommend to read it slowly and chew on it.
Always a stellar thought process from Manish Chokhani âŠgood watch 
The double-edged sword slays again!
In 2012, Bill Hwang, a former hedge fund manager, pleaded guilty to wire fraud and settled insider trading charges.
But he started over in 2013, using $200 million to create Archegos Capital Management â a so-called family fund.
He turned that $200 million into some $20 billion, betting big on a portfolio of high-flying media and tech stocks. And thenâŠ
In the last week of March 2021, all the billions evaporated into zero.
The French have a saying: plus ça change, plus câest la mĂȘme chose
Meaning: the more things change, the more they stay the same.
I just wonder if financials in India are not already priced for all growth of future and are valued many times over their global counterparts.
https://twitter.com/disciplined_inv/status/1396131675327901700
Quick summary of Sunil + Saurabh discussion for those interestedâŠ
Officially, about 3.5 million have already died due to Wuhan virus as on date. Some experts say the numbers are under-reported and the real number could be 2X to 3X. This is truly a horror unleashed on the world.
The following is a very informative and fascinating article. A must read for all those who are interested in knowing more about the origin of the virus and the âculpritsâ involved.
Introduction to Biotechnology: (3:55)
Genomics & Diagnostics: (19:32)
CRISPR/CAS9 and Precision Medicine: (38:52)
Bioprinting: (1:09:45)
Rallis & Agribiotech: (1:18:06)
Vaccines, CDMOs: (1:34:34)
Monoclonal Antibodies: (1:41:44)
Peptides: (1:47:13)
Age Reversal: (1:52:57)
COVID 19 Vaccines: (2:05:03)
Stelis - demerger opportunity: (2:20:06)
Laurus Bio: (2:30:13)
Syngene: (2:36:25)
Industrial Biotechnology: (2:39:30)
Praj Matrix: (3:20:39)
Investment Cheatsheet: (3:50:02)
Q&A with Sajal Kapoor: (3:55:00)
Prashant Jain âŠgood pertinent thoughts
This can help in my opinion
