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Ram Bhupatiraju
@RamBhupatiraju 4 years, 3 months ago 645 views

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Phenomenal article/compilation on "The Biggest Mistakes Investors Make". h/t @manualofideas @JMihaljevic 👏

cc: @dmuthuk @Gautam__Baid @saxena_puru

My fav pts in the thread below

Lot of great points on the importance of having a strategy, process, discipline, patience, self-reliance, awareness of risk, biases/emotions, learning from mistakes & more.

More ⬇️

Some more ⬇️

The last year has delivered great results to many Portfolios but Market conditions are always changing and it's important to ensure the Process and Portfolio are built to withstand whatever the Market throws at it in the short-term and sustain & succeed for the long-term.

"Even as learning from past mistakes is easier said than done, there is no path toward improvement unless we attempt to learn from our mistakes — and those of others."

/END

More from Ram Bhupatiraju

Ram Bhupatiraju
@RamBhupatiraju

"6 Rules From 6 of the World's Top Investors" - Nice article with some good lessons for long-term investors.

1⃣ Let Winners Run
2⃣ Do the Research
3⃣ Have Conviction
4⃣ Patience Is Key
5⃣ Be Wary (of random advice)
6⃣ Look

1⃣ Let Winners Run : "Be patient with winning trades; be enormously impatient with losing trades."

Although this is in reference to trading, it applies well to long-term investors also. Be patient and don't take quick/small gains when you're invested in wonderful companies..

..acquired at decent prices with lot of growth ahead.

At the same time, if the thesis is broken and you no longer believe in the Company which has been a loser in your Portfolio, don't stay invested with a hope of coming out even.

2⃣ Do the Research : "First, look at the quality of the company, then at the price. Looking at the quality of a company requires that you read financial statements, listen to conference calls, and vet management.

Then, only after you have confidence in the quality of the company, should the price be evaluated.

If a company isn't a quality company, don't buy it just because the price is low. Bargain-bin companies often produce bargain-bin results."

Ram Bhupatiraju
@RamBhupatiraju

"Poor Charlie’s Almanack" about Charlie Munger is a phenomenal book that should be read by all investors at least once. Excellent summary of that book by @allenxcheng👏

cc: @dmuthuk @Gautam__Baid

Thread below with my fav

Topics in the article ⬇️

Key points ⬇️

Mental Models suggested ⬇️

On Constant learning ⬇️

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Ram Bhupatiraju
@RamBhupatiraju

Phenomenal compilation of summaries of🔟important Business/Finance/Investing books. h/t @EdelweissFin 👏
An excellent weekend read.👍

cc: @dmuthuk @Gautam__Baid @saxena_puru

https://t.co/Nl4eWteJKK

Snapshots of the Key Takeaways of the books discussed.

1⃣ "A Piece of the Action" is an excellent book to understand the Finance Industry evolution in the US.

2⃣ The obvious classic "The Intelligent Investor".

3⃣ Ray Dalio's "Principles"

4⃣ Howard Marks' "The Most Important Thing"

5⃣ "Thinking Fast and Slow" is a good book on Behavioral Finance.

6⃣ Another obvious classic "One Up on Wall Street"

7⃣ "The Little Book of Behavioral Investing" is another good behavioral finance book.

8⃣ "The Black Swan" by Taleb. A very important book about unpredictability and cautioning against over-relying on Models/predictions.

9⃣ "The Millionaire Next Door". I haven't read it, but hear it's a good personal Finance book.

🔟"Nudge" about improving decision making.

Ram Bhupatiraju
@RamBhupatiraju

My Monthly Learning Calendar for Investing.🗓️

If I had 1 hour per day (for non-Company related research), this is what I would do.

Going thru specific topics on specific days should help streamline the reading/learning process w/o causing too much information overload.

Investing in individual stocks is more than just company specific research.

It's about having a broader perspective on many topics including Investing principles/philosophy/history, Industry trends/landscapes, and thoughts/deep dives from other reliable sources.

I'm grateful to all these awesome folks that put out such quality content.

Also separate h/t to all the folks I follow on Twitter (list always growing, albeit slowly). You posts diversify and enrich my feed & learning.

Disclaimers :

Below thread has the resources listed by topic (and not by calendar days).

The below is NOT a ranking of resources. Just a listing of my current fav resources based on specific topics.

Descriptions on why I like each resource is not listed here (due to the huge #). You can find that info for most of these resources in my current pinned tweet.

Ram Bhupatiraju
@RamBhupatiraju

One of the best Investing blogs I recently came across. h/t @StableBread 👏

Five of my fav articles⬇️

@dmuthuk @saxena_puru @Gautam__Baid

1⃣On Moats
Network Effect
Intangible Assets
Switching Cost
Economies of Scale
Low Cost Provider
Toll
Cultural

2⃣Crucial Investment Principles You Need to Have
Capital Appreciation
Buy Low, Hold, Sell High
Recognize/Avoid Spec Bubbles
Ignore Noise
Stock Market=Pendulum
Diversify Your investments. Don't overdo it.
DCA
Understand Share Price Value
LT Tax

3⃣How to Read and Analyze Any 10-K Annual Report

Business Summary
Risk Factors
Selected Financial Data
Management's Discussion and Analysis
Financial Statements and Supplementary Data
Notes to Consolidated Financial

4⃣The Beginner's Guide to Dividend Investing

Dividend Yield
Dividend Growth Rate
Dividend Payout Ratio
Ability to Pay Back Debt
Net Debt to EBITDA Ratio
Return on Equity
Credit

5⃣How to Calculate the Intrinsic Value of a Company Like Warren Buffett

Owners Earnings
Growth Rate
Discount Rate
Calculate Intrinsic Value
Scenario Analysis
Margin of

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J. Tuominen
@CapcentResearch

THREAD, PM EXIT STRATEGY

I sometimes get the question “At what price do I liquidate my PM portfolio?” The short answer is:

A) I´ll never sell all of it

and

B) I don´t have a PT. I could start selling at $1900 or at $100000, it depends.

For the longer explanation, 👇

Albert Einstein once famously said “Everything is relative”. I find that quote very useful in the world of investing as well.

First off, my preferred style of investing is more influenced by macro than micro (macroeconomics vs company specific).

That means I often buy a commodity, an ETF or a basket of companies operating in the sector of interest.

I frequently look at certain ratios, or said another way, instrument X relative to instrument Y.

By analyzing historical data, I´ve set up different “ratio milestones” for when history tells me to start unwinding the ratio. As these milestones are triggered, I sell 25% of the relatively stronger instrument. For every additional 10% skew in the ratio, I sell another 25% etc.

This means I´ll never pick the absolute top nor the bottom, but I should extract much of the value while keeping my emotions out of it.

An example where this principle is adopted is shown in the Gold/Silver ratio -graph below.

John E Deaton
@JohnEDeaton1

RIPPLE’S DUE PROCESS CLAIM:
In @Ripple’s Answer it asserted a defense that the SEC should be barred from claiming #XRP is a security today because it violates Due Process and principles of Fair Notice. Previously, I discussed a similar concept called the doctrine of equitable

estoppel. I explained the law protects a party from being harmed by another party's voluntary conduct. That conduct may be ACTIONS, INACTION, SILENCE, or ACQUIESCENCE. Although the SEC never declared XRP a non-security, for EIGHT YEARS it openly traded in unison with #ETH and

#BTC. During this time, some from the SEC, including Clayton, commented that #BTC and/or #ETH were not securities. For 8 years the SEC’s actions, inaction, silence and acquiescence implied that XRP was also NOT a security. Let’s review a few of the SEC’s actions, inaction,

silence and/or acquiescence related to #XRP. (1) During the period of time the SEC claims XRP was a security, the SEC granted Ripple permission to take a minority stake in MoneyGram (MGI). Ripple invested $50 million purchasing approximately 9% of MGI. The SEC approved this

purchase of MGI with the full knowledge that Ripple would encourage MGI to use XRP as a cross-border utility token related to remittances. The SEC allowed the use of this so-called illegal security to be utilized not just by Ripple, but by MGI. The SEC admitted to this knowledge

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Ram Bhupatiraju
@RamBhupatiraju

Some Excellent articles on Financial Ratios and Analysis.
h/t @discover_ci 👏

1⃣ Profitability

2⃣Liquidity

3⃣Leverage

4⃣Asset Management

5⃣Financial Analysis: What It Is and Tips for Getting it Right.

✔️Determining a Company’s Key Performance Indicators
✔️Collecting Company Financial Statements & Calculating Financial Ratios
✔️Analyzing Operating Results & Financial

Tochukwu Ezeukwu
@Towchukwu

It is counterintuitive but, if you have N100 to invest, (a) the N100 should be a proportion of a larger income, then (b) of the N100, always reserved N25 for downturns, no matter how good it's going with the N75.

Ram Bhupatiraju
@RamBhupatiraju

Excellent article on Investor psychology & Market cycles based on Howard Marks' "Mastering the Market Cycle".

cc: @dmuthuk @Gautam__Baid

My fav pts 👇

Excellent pts 👇

✔️Mania and risk
"The combination of feedback loops and irrational exuberance, where newfound expectations and enthusiasm, encourages investors to bid up and rationalize extraordinary growth in asset prices.

By contrast, during periods of fear and pessimism, many face difficulties with identifying potential future value beyond the immediate-term.

An understanding of where attitudes to risk sits within the current investor psychology cycle can be a useful knowledge advantage.

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Anshul Pandey
@Anshulspiritual

THE IMPORTANCE OF DEVI BEEJ / BIJA MANTRA.

Once Suutji in his discourse with King Janmajeya repeated the words of Vyasji regarding the pronounciation of the word ऐ. Vyasji had heard the importance of this word in a meeting of all important saints at Naimisharanya.

There this story was discussed.

In that gathering of such great sages, Rishi Jamdagni asked a question to all the eminent luminaries. He wanted to know which diety is the most revered and gets satisfied easily with our prayers. So Lomash rishi replied that Devi

Bhagwati was one such diety. She will be satisfied and is ready to grant you a boon even if you just say the first letter of her beej mantra. In this context he narrated the story of Satyavrat. The story is as follows.

There lived a Brahmin named Devdutt in Kosal.

He was childless. He arranged for an elaborate yagya for a intelligent son to be born. He invited all the eminent rishi's to conduct this Yagya. Rishi Suhotra, Pael, Brahaspati Yagyavalka were assigned different tasks. Rishi Gobhil was asked to sing the Saamved.

He sang the verses very well, but he had to take respite in order to breathe between two verses. This angered devdutt. He spoke his thoughts to Gobhil rishi.

The rishi got very angry as devdutt did not realise the practicalities of singing. He cursed devdutt that

Pulp Librarian
@PulpLibrarian

Many readers have asked me "why do so many pulp covers feature women in ripped red blouses standing in swamps while a man fights off an unusual animal attack?"

The answer is artist Will Hulsey...

Will Hulsey was the undisputed king of the animal attack pulp cover. You name it, he'd paint it attacking you in a pool of stagnant water.

Very little is known about Will Hulsey, but he worked on a number of men's pulp magazines in the 1950s and early 1960s including Man's Life, True Men, Guilty, Trapped and Peril.

Their audience was ex-GIs: during WWII the US Council of Books in Wartime had given away over 122 million books to American servicemen to read; this led to a post-war surge in paperback and magazine sales amongst these newly enthusiastic readers.

As a result the 1950s saw a raft of men's pulp magazines being published to tap into this market - almost 200 different titles!

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Suhas S. Hardutt
@HarduttSuhas

WHEN GH0RI TOOK TO HIS HEELS WHILST FIGHTING A HINDU QUEEN

THE BATTLE OF KASAHRADA (Kayadara)
1178 AD

Strategy! Bravado! Glory!

(Thread)

The narrative set by left historians about one of their favorite poster boys "Gh0ri" is that he went unchallenged upon entering the Indian subcontinent with one king falling after another.(1)

They conveniently deleted this event. Why? An agenda aimed at making us feel weak and inferior against the invaders in an attempt to glorify them. Simple strategy: To destroy a civilization tamper their history.(2)

Gh0ri defeated Prithviraj Chauhan at the 2nd Battle of Tarain in 1192 and laid the foundation of Delhi Sultanate. What is not well known is the fact that 14 years before he won this battle, he was defeated by the queen of Gujarat "Naiki Devi"!(3)

In 1173 Md Gh0ri had conquered the Ghaznavids in Afghanistan. A ruthless, persistent and deceptive Gh0ri was successful in conducting massive raids deep inside Indian territory.(4)

Jonathan Ware
@ReassessHistory

Rhino Barges

One of the dullest, coolest, more bizarre and fascinating pieces of kit used in Normandy.

Which NO ONE REALLY CARES ABOUT.

BUT I DO AND YOU SHOULD TOO.
/1

#WW2 #SWW #History

Planning for Overlord and Neptune had a serious snag, how to get troops from LSTs onto the beach as simply ramming them onto the beaches and dropping the ramp was known to damage the exceptionally vulnerable LSTs and felt to be unsustainable in the mid to long term. /2

LSTs were essential in sustaining Overlord's progress and were a subject of major headaches in the planning phase, and a real subject of friction when it came to launching additional amphibious operations such as Dragoon.

A single LSTs loss represented a capability nick. /3

So, logic dictated, we don't really want these remarkable but rare and highly valuable vessels constantly doing beach landings, we want something to act as a medium between ship to shore, and in came the (mostly) American designed Rhino. /4

I fucking love Rhinos.

Seriously.

Graceful lines of pure industrial pedigree.

Modular.

LOOK AT IT. /5

$\u0936\u094d\u0930\u0940\u092e\u093e\u0932\u0940 \u0939\u093f\u0924\u0947\u0936 \u0905\u0935\u0938\u094d\u0925\u0940$

श्रीमाली हितेश अवस्थी...
@HiteshAwasthi89

#Thread
12 Most Powerful Hanuman Mantras

Hanuman ji is the Hindu God of strength, valor, agility, and wisdom. He is considered as the incarnation (avatar) of bhagwan Shiva. Hanuman ji is the symbol of devotion and dedication. He is the greatest devotee of Prabhu Shri Ram. 1/n

Hanuman ji is known by several names such as Bajrangabali, Mahabali, Maruti Nandan, Pawanputra, Mahaveer, and Anjaneya. Hanuman ji is the son of Bhagwan Vayu, the wind god.

God Hanuman played a prominent part in rescuing Mata Sitafrom the bondage of demon King of Lanka, Ravana.

One can worship Hanuman ji by chanting Hanuman Mantras. There are many different types of Hanuman Mantras, each fulfilling a specific purpose. Hanuman Mantras help to beget the blessings of Mahabali Hanuman for success. 3/n

Let’s explore these powerful Hanuman Mantras one by one. Here’s the list for you:

1. Hanuman Moola Mantra
!! Om Hanumate Namah !!
ऊँ हनुमते नम:

You can chant the “Hanuman Moola Mantra if you usually face problems and obstacles in your life.4/n
#hanumanjanmotsav

However, the Human Moola Mantra is also a very powerful success mantra.

It’s a Kaarya Siddhi Mantra.

It is highly advised that all those who usually face obstacles and problems in their life should chant the Hanuman Moola Mantra. 5/n
#hanumanjanmotsav