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It has been exactly 3 years to "how fund managers .." was released. The book took a lot of time to write. Here is a short thread about how it happened ..

 2/n the idea came from @kan_writersside who got me in touch with Dibakar Ghosh at @Rupa_Books .. we discussed the idea that it has been 2 decades to the fund management industry and it deserves a book. A lot was written about about Bharat Shah, Prashant Jain and S.Arora..
3/n but there was not much information about investment philosophies and the overall environment of the mid 90s and later on. Kanishk and Dibakar wanted a broader book for everyone and not just the stock market reader. We went to work
4/n we decided to write about the dotcom boom and bust where it all started. The start fund managers came from there. In Feb 2000 IT index had a pe multiple of 420 and the market cap of the sector was 34% of the market. Banks were 5% and some analysts were still bullish
5/n prashant Jain was one of the few fund managers who was out of the sector in November itself and was quietly watching the index go up. There were others but the legend of Jain was at the top of the mind because it is believed he refused to meet the CFO of a big IT company ..
6/n peak of the market. It was a time of stories..numbers and lots of tears. What hurt us was the retired people who invested money in the market at the top of the cycle. @vikaasmsachdeva had so many stories that it would require another book
7/n after the bust the market did not move anywhere till the listing of TCS. Then a new crop of fund managers came in. Now this new gang talked about midcap. After 2005 it was the age of Madhu Kela, Sunil Singhania , Anup Bhaskar and Kenneth Andrade
8/n these guys were different. They looked at small companies differently than large companies. With a little bit of risk they knew they can make a lot of return. These guys knew when to get out of these small cap stocks. They became super stars
9/n while this was on, Parag Parikh and Rajeev Thakkar were quietly building an investment philosophy if value investing that they will swear by forever. Parikh passed away in 2015 but he left his legacy in the form of an investment style is working well
10/n then there is Ken Andrade who wrote a piece called dot kaun questioning the growth of software business. His sparring partner was Vetri S. Ken was to later on become a big midcap fund manager where he would take contra positions in stocks of future. Page industry is one
11/n what I like about Ken is his music collection. And also the fact that his head is full of awesome GDP and rural data. He is a man with the memory of an elephant ..he also was the big one to move into PMS
12/n technically Bharat Shah was the first one when he moved from Birla to ASK. All the stars of the dotcom boom are interestingly still holding fort. Then there is S.Naren. a voracious reader. A fan of checklist of Atul Gawande. He built a fund management house that is lean
13/n smart. He does that with the checklist rules. AND then there is Siva of Franklin. He is again a simple guy who made it big only on clean low beta performance. Gave high returns with the lowest risk. Avoided software in dotcom and infra in the 2008 GFC. Apparently he is a
14/n he is a history buff and collects artifacts. He also moved out of the industry at the peak of his career. A moved from IDBI in Mumbai to Chennai to work with Franklin only because his family was there. He was very of companies wanting to be empires
15/n the real game changer was Sanjiv Shah of Benchmark who started the first ETF. The idea was new in 2000 and he was ridiculed for that. But he was cool and rational. He also started the Bank Nifty ETF was was the biggest fund in 2007. Shah was sure that low cost funds will
16/n take over the market. He was right. AFTER 2008 it has been the world of the index funds and ETF. There are many reasons why most active funds will not do well in the future and the principle reason is cost and competition to price stocks. The details are there in the book..
17/n and there is Mahesh Patil. Who is one of the few fund managers who listens more than talk. He was one of the earliest in Bajaj Finance. A special mention. . Chandresh Nigam who believed that India is a growth market and not a value market. So many smart people out there who
18/n can only make the market efficient. Thanks for reading the thread. The book is still available at https://t.co/vcd9n2z7XA.And many thanks to @ms89_meet for doing those wonderful investment threads. And also @InvestBooks who single handedly did so much for this book
Then there is @anishteli and @passivefool who keep me updated in all things investing and mutual funds. Anish was one guy who appreciated the standard deviation chart in the last chapter and has urged me to update it regularly. Thanks guys 🙂 n/ends

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Dr Adam Rutherford
Dr Adam Rutherford
@AdamRutherford
I see that there is a lot of chat about ancestry and indigeneity, two complex and profoundly misunderstood concepts. Here’s a thread 1/N - I have written about these ideas extensively, in two books;

Ancestry rapidly becomes a matted web rather than a tree. Claims of ancestral purity are absurd. We are descended from multitudes, and don’t bear DNA from actual ancestors after very few generations. (fig. from @Graham_Coop


With both ancestry and indigeneity, the pertinent question is ‘when?’ If you claim ancestry from a certain group of people, then you are timestamping when you consider these ancestors to be important (to you). 3/N

Similarly, with claims of indigeneity, there is no agreed time when this kicks in.

There are a few places that have been populated by human in recent history, and so logical claims of an indigenous people make more sense, e.g. the Māori of New Zealand were the first humans to live on Aotearoa from the 12th C.
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J Malone.
J Malone.
@malone_j71
Aboriginal self-government - legal and constitutional issues 1995 Ottawa, Canada- Royal Commission on Aboriginal Peoples #Metis


Aboriginal self-government - legal and constitutional issues 1995 Ottawa, Canada- Royal Commission on Aboriginal Peoples- pg141. - papers argues that it is logical and sensible to consider persons of mixed ancestry of all kinds to be within sec. 91(24) jurisdiction and that the


Metis are included within the fiduciary relationship owed by the crown to the Aboriginal peoples. (pg142) The recognition of Metis as one of the "aboriginal peoples of Canada" in section 35 of the Constitution Act 1982, reinforces this federal practice. "It is concluded that


sec 91(24) includes persons of mixed ancestry." pg143- "the Guerin case suggests that the federal gov. may be breaching its fiduciary obligations if it refuses to initiate legislation needed to acknowledge the existence of certain Aboriginal peoples or to meet basic economic


or social needs." https://t.co/90gG3LeCFC -
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Guerin v. The Queen, [1984] 2 SCR 335
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iNk #EndSars
iNk #EndSars
@nwaoma007
1./ Dear Funto,

Please leave my husband alone.

Depending on your personality, you think you know me. You assume you understand the situation. Gbenro has probably told you that we have a difficult marriage. He’s explained to you that I don’t understand him.

2./ He’s said that the children are all we have in common and that as soon as they are old enough, he will divorce me. Sigh. How old is old enough? Do you know the ages of our children ? Our children are all teenagers. He won’t leave. He is as committed as I am to this marriage.

3./I am not the things you may think I am. I am a suburban housewife in loose terms but that’s probably the only thing you have correct.
Has Gbenro told you that the money belongs to me? Did he explain to you that although he is the CEO of the company that I am in fact the owner

4./ of the shares that keep him in that position? Has he explained to you that he can’t take a decision without me? That I am MBA Harvard, Class of 2006?

Why am I a suburban housewife? This is the life I have chosen. I decided early on that I want to stay at home

5./and raise my children. I can afford that luxury.

You wonder why I stay at home and allow Gbenro to get away with his infidelities? Why don’t I walk away? In your opinion; you know you wouldn’t stand for it. He wouldn’t dare it with you? These are your thoughts? Am I correct?
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Library Mindset
Library Mindset
@librarymindset
If you're still in your 20s, read this:

1)


2)


3)


4)


5)
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Ishwari Murudkar
Ishwari Murudkar
@IshwariMurudkar
दोन वर्षांपूर्वी जेव्हा मी ‘लीन इन’ हे पुस्तक वाचले होते तेव्हा मला कधीच वाटले नव्हते की ह्या पुस्तकाचा माझ्यावर कायमचा परिणाम होईल.
“खरोखर समान जग असे आहे की जेथे महिलांनी आपले अर्धे देश आणि कंपन्या आणि पुरुषांनी अर्धी घरं चालवतील. “
- शेरिल सँडबर्ग.


अध्याय वाचताना मला जाणवलं की प्रत्येक महिला जिला तिच्या आवडीनिवडींशी कोणतीही तडजोड न करता स्वत: चे करियर बनवायचे आहे, तिच्यासाठी हा manifesto आहे. या वास्तववादी पुस्तकाची लेखिका शेरिल सँडबर्ग आहे. प्रामाणिक बोलं तर मी त्यावेळी तिचं नाव कधीच ऐकले नव्हते.


काही खुलासे करणारे तथ्य शोधल्यानंतर मी तिच्या संदर्भात अधिक माहितीसाठी थोडा इंटरनेट सर्फ केलं. हार्वर्डमधून इकॉनॉमिक्सची पदवी घेतली व पदवी पूर्ण झाल्यावर तिला कॉलेजमध्ये वुमन इन इकॉनॉमिक्स नावाची एक संस्था स्थापित केली. एका वर्षासाठी वर्ल्ड बँकेत काम केले आणि कुष्ठरोगास आळा


घालण्याच्या एका कार्यक्रमाअंतर्गत त्यांनी भारतातही प्रवास केला. नंतर हार्वर्ड येथे एमबीए केले आणि वर्षभर मॅककिन्से आणि कंपनीबरोबर काम केले. माझ्यासारख्या भारतीय महिलेसाठी, तिने आपल्या पुस्तकात लिहून दिलेल्या कामाच्या ठिकाणी महिलांच्या वागणुकीच्या साध्या साध्या निरीक्षणाद्वारे

निश्चितच एक आदर्श म्हणून काम केले. मला वैयक्तिकरित्या कळले की पुस्तकात नोंदवलेल्या बर्‍याच अज्ञात, नकळत वर्तन तथ्य सत्य आहेत. त्यापैकी काहींचा समावेश आहे की महिला ज्या प्रकल्पात काम करतात त्या कोणत्याही प्रकल्पात पुढाकार अर्थात initiative घेत नाहीत,
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हिमालय पर्वत की एक बड़ी पवित्र गुफा थी।उस गुफा के निकट ही गंगा जी बहती थी।एक बार देवर्षि नारद विचरण करते हुए वहां आ पहुंचे।वह परम पवित्र गुफा नारद जी को अत्यंत सुहावनी लगी।वहां का मनोरम प्राकृतिक दृश्य,पर्वत,नदी और वन देख उनके हृदय में श्रीहरि विष्णु की भक्ति अत्यंत बलवती हो उठी।


और देवर्षि नारद वहीं बैठकर तपस्या में लीन हो गए।इन्द्र नारद की तपस्या से घबरा गए।उन्हें हमेशा की तरह अपना सिंहासन व स्वर्ग खोने का डर सताने लगा।इसलिए इन्द्र ने नारद की तपस्या भंग करने के लिए कामदेव को उनके पास भेज दिया।वहां पहुंच कामदेव ने अपनी माया से वसंतऋतु को उत्पन्न कर दिया।


पेड़ और पौधों पर रंग बिरंगे फूल खिल गए और कोयलें कूकने लगी,पक्षी चहकने लगे।शीतल,मंद,सुगंधित और सुहावनी हवा चलने लगी।रंभा आदि अप्सराएं नाचने लगीं ।किन्तु कामदेव की किसी भी माया का नारद पे कोई प्रभाव नहीं पड़ा।तब कामदेव को डर सताने लगा कि कहीं नारद क्रोध में आकर मुझे श्राप न देदें।

जैसे ही नारद ने अपनी आंखें खोली, उसी क्षण कामदेव ने उनसे क्षमा मांगी।नारद मुनि को तनिक भी क्रोध नहीं आया और उन्होने शीघ्र ही कामदेव को क्षमा कर दिया।कामदेव प्रसन्न होकर वहां से चले गए।कामदेव के चले जाने पर देवर्षि के मन में अहंकार आ गया कि मैने कामदेव को हरा दिया।

नारद फिर कैलाश जा पहुंचे और शिवजी को अपनी विजयगाथा सुनाई।शिव समझ गए कि नारद अहंकारी हो गए हैं और अगर ये बात विष्णु जी जान गए तो नारद के लिए अच्छा नहीं होगा।ये सोचकर शिवजी ने नारद को भगवन विष्णु को ये बात बताने के लीए मना किया। परंतु नारद जी को ये बात उचित नहीं लगी।
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Kelly Ellis
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So, I want to talk about how sexual harassment and fair pay are linked at Google (and beyond), because I think that's an angle that isn't being highlighted enough in the coverage of these walk-outs. I'm going to frame it largely around my personal experience there. Thread.

When I was sexually harassed by the director of the area I was working in, I was afraid to report it because I was worried that "getting him in trouble" would result in the subtle retaliation of missed leadership opportunities.

I wanted to continue working on the team I was on, because I'd gained a lot of very deep knowledge and expertise in that area, as well as reputation and camaraderie with the other folks working in that area. I didn't want to make the situation more "difficult."

To get promoted at Google, several need to happen: 1. you need opportunities for ownership and leadership above your current level (basically, opportunities to show you're working at the next level you're trying to get promoted to). The work you're "assigned" has a big impact.

2. You need glowing reviews from peers, *at or particularly above the level you're hoping to get promoted to.* Basically, you need people a lot more senior than you to say you're doing awesome work.
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Novid Houellebecq (That's Hollaback)
Novid Houellebecq (Tha...
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I want to explain what happened to tumblr overnight. And why Twitter as reached it's dream (or have come ever so close to it)

Yahoo, who bought Tumblr years ago, used to have a huge adult presence on the early net. They allowed adult groups and what not.

However, people and bots (just like now) misused the service, and Yahoo were forced to make a choice. They made private the groups (and later closed them down and sold some of it to other companies) and then ended their chatrooms on yahoo messenger...

after a incident with one of the chatrooms vid cams. The damage was done, Yahoo Messenger lost a lot of people - and with the closing of the groups - backpage and Craigslist came more important.

Now backpage is no more and Craigslist is slowly passing away. Tumblr had a semi strong community, but once 2014 came around and both porn, and political bots exploded the quality started to go down,
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\uc2e0\ub150\uc758\uc0ac\ub098\uc774
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@Belposto_korea
What does Gold- Backed mean?
The Chinese Elders have been accumulating gold for hundreds of years. They are gold-rich. Some of their gold was loaned to the Central Banking System so that it could fund the rebuilding of Europe after the many war-torn years from World Wars I and II

BTW they never returned it but used it to start their financial empire to enslave humanity. This is the Central Bank Banking System./2

Maybe this is why one of the conditions to use their gold for the QFS is the demise and full disclosure of the Central Bank banking system before the RV can take place./3

The Elders have caves of hidden gold and are now using it to gold-back the currencies in the QFS for every country in the world. It is important to understand that the QFS and the money it is about to release is all brand-new currency./4

It was designed by the Alliance to fund the new financial system that will reset all Currencies of the world to Gold-Backed currency./5
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Corey Haines \U0001f4a1
Corey Haines 💡...
@coreyhainesco
I think I'm giving up on mainstream marketing content.

I'm giving up on social media consumption too.

So little substance.

Need to devote more time doing. More time creating.

Who needs another "5 ways to boost growth" post? I click and am disappointed every time. Not again.

I don't want to poop on content marketing, but marketers need to step it up.

Or at least, founders need to know that doing something is not always better than doing nothing.

Why is content marketing not as effective as it used to be? An innumerable amount of factors...

But one things for damn sure.

Things have to change.

Two of the chief sins:
1. Unoriginal research/story/study/etc
2. Not having anything more to add that's meaningful

Why blog/podcast/vlog/etc about something that's already been said? Already been done?

Do we really need another interview with founder of x hot startup? Do we really need another ultimate guide about facebook ads?

Not all content is like this...

Sometimes, you get an occasional piece that truly leaves you better off than you were before. That doesn't make you want to skim.

An original case study. A first time interview with a founder. An honest account of an experiment. An explanation of a change, shift, or realization.
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