Virtual meeting to condole passing of Indian jurist and former Attorney General for India, Soli Sorabji

Lalit Bhasin, President of SILF: The law reports are full of the monumental cases in which Soli appeared... during his seven-decade tenure as a lawyer.

#SoliSorabjee

Attorney General KK Venugopal speaks, recounts of the large number of cases in which he and Sorabjee and appeared in together.

#SoliSorabjee

AG Venugopal: When I think of Soli, one would imagine a legend of the law, a great jurist, an attorney general twice over... and above all a lawyer who was innovative and part of the evolution of the Constitution of India

#SoliSorabjee

AG Venugopal: According to me, his success in SR Bommai.. is one of the feathers in his cap...The judgment as a deathblow to the abuse of power by the Centre...

#SoliSorabjee

AG Venugopal: I was appearing (at the time) for Karunanidhi during the height of emergency ...

The allegation that he had taken a bribe was sufficient to dismiss the government in a State, Venugopal recalls.

Delhi High Court begins hearing plea concerning #COVID19 situation in the national capital.

Hearing before Justices Vipin Sanghi and Rekha Palli.

#OxygenCrisis #OxygenShortage

@CMODelhi @MoHFW_INDIA

Any orders passed by the Supreme Court: Court

It is listed today. As of now I have no instructions: ASG Chetan Sharma

It will be taken up once item 301 is over : Counsel

We will proceed. Did the meeting take place : Court

Yes, it did. Mr Mehra is appearing before Surpreme Court: Adv Satyakam urges Court to take up the matter little later.

Maharaja Agrasen Hospital, adv Alok Aggarwal: We have ICU beds and emergency beds. We don't charge emergency patients for oxygen. There is a notice to Hospitals saying we have to attend to all emergency patients within 10 mins and give them oxygen and medicines.

There is no one who is able to tell us there are people supposed to go if we can't admit them. We are full. They can't keep on occupying emergency area.. I can't kill a person because I've to admit another patient : Aggarwal

1/n
SSB Scam: Here are the evidences to show as to the involvement of senior officers in this Scam since so many years. The concerned GTO wrote to the Comdt pointing out the illegality and favouritism. Comdt didn't do anything since it was the case of the son of DG Recruiting.

2/n
Having failed to get any positive response from the Comdt, Selection Centre, the GTO then wrote to the then COAS, Gen Dalbir Singh bringing out the impropriety on the part of all concerned including the DG Recruiting whose own son was being favoured for TA Entry.

3/n
The COAS responded through his AG who assured that necessary corrective actions were being taken but he didn't stop the entry of the son of the DG Recruiting who was getting favoured. The AG offered to meet the GTO at Allahabad & then met him also the very next day there.

4/n
Astonished to see the award of PVSM to the said DG Recruiting inspite of a clear cut charge of fraud against him, the GTO again wrote to the COAS questioning the award of PVSM. However, neither any reply was ever received nor the illegal entrant was stopped from joining TA..

5/n
The GTO didn't stop here. He then sent an email to the new COAS, Gen Bipin Rawat (now CDS) about it.The result,the GTO was threatened. Fed up with continuous attempts of the senior officers to hush up the matter, the GTO resigned & his resignation was accepted within no time.

Here's a list of 50 books...

every one of them is a page-turner.

[thread]

1. A Night to Remember: The Classic Account of the Final Hours on the Titanic by Walter Lord

2. Say Nothing: A True Story of Murder and Memory in Northern Ireland by Patrick Radden Keefe

3. On Wings of Eagles: The Inspiring True Story of One Man’s Patriotic Spirit — and His Heroic Mission to Save His Countrymen by Ken Follett

4. Annapurna: The First Conquest of an 8,000-Meter Peak by Maurice Herzog

5. A Thousand Hills: Rwanda’s Rebirth and the Man Who Dreamed It by Stephen Kinzer

6. The Perfect Storm: A True Story of Men Against the Sea by Sebastian Junger

7. Barbarians at the Gate: The Fall of RJR Nabisco by Bryan Burrough and John Helyar

8. Kitchen Confidential: Adventures in the Culinary Underbelly by Anthony Bourdain

9. Killing Pablo: The Hunt for the World’s Greatest Outlaw by Mark Bowden

A children's book explanation of what's happening:

1. If you are "smart money" you are allowed to take your $1 and leverage it up to $15+

2. You can now buy $15 of stock AND if you promise to short companies, you can short $15 of stock as well

3. In finance language, this means that you are $30 "gross" ($15 of longs + $15 of shorts) but $0 net (+$15 of longs -$15 of shorts). This makes everyone feel good because it feels like you are taking zero risk...but in reality, your $1 is exposed to $30 of risk.

4. Now you go around and tell your friends about both your longs and your shorts and when you do it at a restaurant vs on Reddit, its called an "ideas dinner".

5. You also publish your longs on a quarterly lag via an SEC rule. You don't have to tell anyone about your shorts.

6. Now the less cool people who weren't invited to the ideas dinners, start copying your longs based on your report.

7. You realize that publicizing your shorts is also a good idea so instead of only selling stocks, you also BUY options (puts) which has to be reported.

8. Now everyone can see both your longs and your shorts and if you have a hot hand, you can likely predict that the cool people from the dinner as well as the less cool people monitoring your filings will copy you.

9. But then an outsider notices that the math is way off!

Market PE at 40 and yet the market is not falling, why? Getting asked this question multiple times. Here's a thread covering ‘very basic’ premier on valuation for my retail investor friends.

Do hit the ‘re-tweet’ and help us educate more investors (1/n)

For us to be able to comprehend the situation, we need to understand 4 very basic valuation matrixes
(1) Trailing EPS
(2) Forward EPS
(3) Trailing PE
(4) Forward PE

Formula

EPS = Profit After Tax / Number of outstanding Shares
PE = Market Price / EPS (2/n)

So what's a trailing EPS?

So in March 2020, RIL generated a Profit after tax (PAT) of 39,354 cr. The number of outstanding shares of RIL is some 676.21 cr. which means the 39,354 cr of PAT belongs to the 676.21 cr. shareholders, right? (3/n)

That also means that per share, RIL earned Rs. 58.20 (39,354/676.21). This 58.20 is called the trailing (TTM) EPS. Trailing means past, already done. (4/n)

So RIL earns 58.20 rupees per share but you pay 58.20 * 33.16 = 1930, 33.16 times more to buy 1 share from the market, that 33.16 is called the Price/Earnings (PE) ratio. This is again trailing as 58.20 EPS is trailing. (5/n)

In 1959, a Swedish engineer at Volvo patented what would become one of the greatest inventions of all time

Volvo stood to make billions

But after a meeting with Volvo's President, he decided to give it away for free - and it changed the world

Here’s how that meeting went 🧶👇

1) After receiving his mechanical engineering degree from a University in his hometown of Härnösand, Sweden, Nils Bohlin joined aircraft maker Saab to work on ejector seats.

For 16 years, he continued to focus on safety and was eventually designing complete pilot rescue systems.

2) Nils was anchored to the idea of safety above all else, and brought this same mentality to a welcoming team at Volvo.

There, he focused his attention on all the driver and passenger safety systems, starting with seatbelts.

3) Seatbelts weren’t a standard feature in cars at the time. Upgrading would get you seatbelts consisting of a simple lap band, like those used in airplanes today.

While better than nothing, these two-point seat belts didn’t adequately protect the human body in collisions.

4) “I realized both the upper and lower body must be held securely in place with one strap across the chest and one across the hips”

In just one short year of applying his aircraft safety experience to cars, Nils invented the V-Type three point safety belt.

How Amazon makes money?

[ Amazon's business model decoded😃]

@dmuthuk @unseenvalue @FI_InvestIndia @Vivek_Investor @drprashantmish6 @caniravkaria

🧵👇

1/ A person named Jeffery earns 100 dollars per month and has an expenditure of 120 dollars monthly. He has a very good reputation in the society. So, he takes a loan of 1k dollars for a month and this 1k cash is invested in new business ventures.

2/ For the next month, he pays his liability back by taking a loan from another person for 1.5k dollars. The loan of 1k is paid back and the remaining 500 dollars are invested in another business venture.

3/ By the end of the month, he earns 150 dollars through his old and new business ventures but has a total expenditure of 200 dollars. He again is in a deficit of 50 dollars. To pay back his 1.5k dollar loan, he takes a loan for 2k dollars

4/ This cycle goes on and on. Jeffery keeps on taking bigger loans to repay the previous loan and the leftover extra loan is invested in bigger ventures which produce more expense than income.