Is HDFC undervalued ?

Market capitalisation of HDFC is 3,10,478 Crores. But HDFC houses listed holdings worth 2,19,437 Crores and several unlisted businesses.

FY20 profit was 21,435 Crores. Setting aside the holdings, HDFC is trading at a PE of 3-4.

Let's dig deeper. A thread.

1) OBSERVATION: The frequencies are changing. I would have to assess stats on the electromagnetic field to see its fluctuations. All I know is, I am highly sensitive to energy/frequencies, and they are changing, because…

2) 2 Weeks ago, my dog was effected by it as well. He is hearing things that aren’t technically audible. I can tell by his body language and sounds. One week ago I began feeling a pressure in my head and ears. It wasn’t painful at all, but it was intense for a bit.

3) It reminded me of taking off in an airplane a bit. I felt like I was in a vacuum. It went on and off for a couple of days. I’ve picked up on frequencies and high pitched sounds (not audible to most) for 30 years, and today my right ear began to ring for longer than usual.

4) This is nothing unusual for me, with exception of the duration. This happens often with me. No, it’s not tinnitus. Only this time, when I spoke, there was reverb creating a high pitch in my ear from my voice. This lasted for about 30 minutes. It did not hurt, just annoying.

5) So yes, the frequencies are changing. What this means exactly, I am unsure of at the moment. Some will say electromagnetic fields, others will say ascension, and some will say pole shift. I honestly can’t say at this very moment.

Important paper from Google on large batch optimization. They do impressively careful experiments measuring # iterations needed to achieve target validation error at various batch sizes. The main "surprise" is the lack of surprises. [thread]

https://t.co/7QIx5CFdfJ

The paper is a good example of lots of elements of good experimental design. They validate their metric by showing lots of variants give consistent results. They tune hyperparamters separately for each condition, check that optimum isn't at the endpoints, and measure sensitivity.

They have separate experiments where the hold fixed # iterations and # epochs, which (as they explain) measure very different things. They avoid confounds, such as batch norm's artificial dependence between batch size and regularization strength.

When the experiments are done carefully enough, the results are remarkably consistent between different datasets and architectures. Qualitatively, MNIST behaves just like ImageNet.

Importantly, they don't find any evidence for a "sharp/flat optima" effect whereby better optimization leads to worse final results. They have a good discussion of experimental artifacts/confounds in past papers where such effects were reported.

For fun I made a Robinhood account. It took me 5 minutes to sign up, get approved and transfer funds for trading...

Here's some details... Read on.

...it took me another 5 minutes to get qualified for options.

If I share a sign up I get "free shares" and I can share as much as I want up to 500$ worth.

The main UI has a prepopulated "list" of stocks/crypto to watch and links to news.

Clicking a stock opens a "trade" button that looks like this.

Notice options is first, buy second.

Options took me to an approval process (which took about a minute) and now away I go trading Baba options.

Buying stock looks like this. It emphasizes fractional shares.