BC GENERALLEARNINGS

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Nithin Kamath
@Nithin0dha 5 years, 7 months ago 841 views

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We have a habit of looking west and thinking what they do must be right. With all the craziness going on in the US capital markets, I thought it will be a good time to share some of the reasons why India is way better in terms of capital market regulations. 1/n

In US, hedge funds can leverage unlimited & run positions worth hundreds of $billions bringing in systemic risk. In India, no one can hold overnight positions more than ~5 times leverage (SPAN+Exposure for F&O, VAR+ELM for stocks). Even intraday leverages are now capped 2/n

In US your stock holdings are held by the brokers (held in book or street name, also the reason for the large stock lending market). If a broker goes down, your securities is at risk as well. In India, they sit in your Demat with NSDL/CDSL, ring-fenced from any broker risk 3/n

In the US your broker has an option to send the order placed on the trading platform to the exchange or a high-frequency trading firm that pays for the order. As you’d guess most orders are sent to HFT firms. In India, all order matching has to happen on the exchanges 4/n

In US a broker can act almost like a bank. Hold your funds for as long, take risk & lend them to other clients as well. In India, a broker can lend only their own funds and not client funds. Also, all unutilized funds need to be returned back once a quarter to the client bank 5/n

In US exchanges earn mostly from selling data feed. The more you pay the better quality of data, creating a non-level playing field with retail usually getting lowest quality data. In India, exchnges earn mostly from transaction fees & everyone has access to same quality data 6/n

US regulator has no restriction in terms of how large short positions can get on a stock (140% of free float in $GME 🤯). In India 20% of free float is the maximum speculative position that can be built using F&O or SLB. 7/n

A couple of posts if you want to read the above in detail

https://t.co/f42KrfMgd3

https://t.co/3HvfgwD7RS n/n

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Story of Thumba Poo and Shiva

Thumba poo is a tiny white flower which grows in all areas. These flowers are used for treatment for sinus. Small children who have polyps in Nose are told to crush tumbha leaves and apply in nose part.
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Mahadeva. Thumba flowers were not taken for Shiva Pooja. Saddened to this Thumba prayed sincerely and Mahadeva appeared before her.
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“We don’t negotiate salaries” is a negotiation tactic.

Always. No, your company is not an exception.

A tactic I don’t appreciate at all because of how unfairly it penalizes low-leverage, junior employees, and those loyal enough not to question it, but that’s negotiation for you after all. Weaponized information asymmetry.

Listen to Aditya

"we don't negotiate salaries" really means "we'd prefer to negotiate massive signing bonuses and equity grants, but we'll negotiate salary if you REALLY insist" https://t.co/80k7nWAMoK
— Aditya Mukerjee, the Otterrific \U0001f3f3\ufe0f\u200d\U0001f308 (@chimeracoder) December 4, 2018

And by the way, you should never be worried that an offer would be withdrawn if you politely negotiate.

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So when it first appeared in Normandy, the Sherman Firefly and it's meaty 17 pounder represented an ideal combo of reliable chassis, great gun and devastating firepower right?

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Truth is a bit more complex. /1
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Deliveries of Firefly to units only commenced in April 1944,
just a few weeks before Overlord & left minimal time for familiarisation.

Armoured Regiments mostly utilised Fireflies on a basis of 1 per troop of 4 tanks. /2

Finally each armoured regiment troop had access to integral, meaty, anti-tank firepower capable of dealing serious damage to any German AFV likely to be encountered. /3

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[See image below] /5