BC MUSIC
Saved by @SAnngeri

Open Question to fellow investors tracking Music Industry.

A business like Universal which controls more than 1/3rd of all published music globally is selling for less than 6x FY20 Sales.

Why are Indian businesses like Saregama / Tips selling for 11x, 20x their sales?

 If I include all of the revenue generated by entire firm, its selling for ~4.5x FY20 Sales
Universal Listing Market Cap ~ 40 Billion USD
FY 20 Revenues ~ 8.87 B USD or 7.4B EUR

Catalogue of Music includes every international artist you can possibly name

Either Universal is grossly undervalued or Saregama/Tips are grossly overvalued.
https://t.co/aHzWSYtcUt
https://t.co/v0EMoCuYKX
https://t.co/wjqKL5M2f3
https://t.co/RWB0nGH1xN
https://t.co/wWJ2QlofiH
https://t.co/LiZaPqzv6H
https://t.co/UuWHbJf8hB

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Tar \u26a1
Tar ⚡
@itsTarH
It's the weekend!

Grab a cup of coffee, in this thread I will explain

1. What a cash flow statement is?
2. What does it tell you about a business?
3. How to analyze one?

Examples included various Indian companies.

Let's dive right in.


Cash flow statement is a financial statement published by a company every quarter and annually.

It comprises of all transactions that a company does in cash or cash equivalents.

*Cash equivalents are other liquid assets that can easily be sold for immediate cash.

This is what a typical cash flow statement looks like


Cash flow statement is important as it gives you transparency into how the company utilizes its cold hard cash generated by the business.

Because we are following actual cash, there are very few accounting tricks that can be employed in this section.

A cash flow statement has three main parts:

1. Cash Flow from Operations (CFO)
2. Cash Flow from Investing (CFI)
2. Cash Flow from Financing (CFF)

Let's dive into CFO in detail.

*CFI and CFF will be covered in a separate thread
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Tar \u26a1
Tar ⚡
@itsTarH
To see the bull case for #IEX one needs a bit of imagination on their side :)

Market always moves to the cheaper alternative, slowly at first, then all of a sudden.
IEX
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Tar \u26a1
Tar ⚡
@itsTarH
It's the weekend!

Grab a cup of coffee, in this thread I will explain

1. How to do Industry Research?
2. How to research a Company from scratch?
3. How to determine Margin of Safety and build an Investment Case?

Lets dive right in.


The most frequent question I get asked is - How should I research an industry or a trend?

A good question indeed and my answer to this is simple.

Read, Read and then Read some more.

The more knowledge you consume, the better you will be able to identify and link trends across industries.


But reading doesn't mean you need to pick a newspaper or start reading random articles over the internet.

Your reading and research needs to be structured.

This is where technology comes in to help and make our lives easier.

Today, algorithms run our world and decide what data you consume.

Be it Instagram posts, TikTok reels or YouTube videos.

So learn to trick these algorithms and use them to your advantage.
ALL , ITSTHLEARNINGS , HOW TO DO INDUSTRY RESEARCH
Tar \u26a1
Tar ⚡
@itsTarH
Niti Ayog is one of the best places to look at, if you want to learn more about the upcoming reforms, outlook on India for next decade and some of the most pressing economical issues of our generation.

Here is a recent one on EV charging infra.

https://t.co/BGoCTVnlRS
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Tar \u26a1
Tar ⚡
@itsTarH
It's the weekend!

Grab a cup of coffee, in this thread I will explain

1. What is a Yield Curve?
2. Why is it an important indicator of Recession?
3. Is an Economic Recession around the corner?

Lets dive right in!


Before we understand a Yield Curve, lets get some of the basic terminology out of the way

1. What is a Bond?

A bond is a fixed income financial instrument which represents a loan made by an investor to a borrower

The investor typically receives payment in the form of interest and a lumpsum (principal) on maturity

The interest rate on a bond is known as coupon rate.


There are many types of bonds like

1. Zero Coupon : Pays both interest and principal at maturity
2. Sovereign Bonds : Issued by a Government or a Quasi Government Institution
3. Corporate Bonds : Issued by corporate like banks, established companies etc.


Coupon (Interest Rates) on a bond are decided based on the issuer's credit rating

The higher the credit worthiness of the issuer, the lower the coupon rate

Credit Rating on a Bond is usually assigned by credit rating agencies like Moody's or Standard & Poor's (S&P)
GENERICLEARNINGS , ELI5 , ECONOMICS

More from Music

The Other Chris
The Other Chris
@TotherChris
Boxerman
----------
(Sung to the tune of Wellerman)

[A Musical Thread]


🎵
There once was a plan for an AFV
The name of the plan was the MIV
There’s more to the tail than you may know
Brew that bivvie boys, brew
🎵

(Hurr! 💪)

🎶
Soon may the Boxerman come
To bring us armour and tea and gun
One day, when the fightin’ is done
We’ll take our wheels and go
🎶

🎵
They must deploy two kay from shore
Fit two to a Herc or maybe more
We envied all that Soviet Cav
And soon was born MRAV
🎵
MUSIC
Julieta Ovalle
Julieta Ovalle
@julietaovallep
"Music, Sense and Nonsense: Collected Essays and Lectures", por Alfred Brendel.

Capítulo: “Conversations - On Schnabel and Interpretation with Konrad

En esta conversación de 1979, Alfred Brendel y Konrad Wolff, autor de “The Teaching of Artur Schnabel. A Guide to Interpretation”, discuten sobre ciertos puntos en los que Brendel no coincide con Schnabel.


Para Wolff, Brendel es el primer pianista desde Schnabel que ha gozado de plena autoridad en la interpretación de Mozart, Beethoven y Schubert. Además, en su opinión, su enfoque tiene mucho en común con el de Schnabel en los detalles de fraseo, tempo y dinámicas.


Sin embargo, hay varias opiniones en las que Brendel difiere de Schnabel. Para Brendel, las frases son como curvas que no necesariamente se miden por compases: “Very often for me the art of phrasing consists in forgetting about bars, ignoring bars and seeing large units”.


Por su parte, de acuerdo a Wolff, Schnabel veía las frases en función de la respiración y del énfasis al principio o al final: “he wanted to know how far he was to play before there was a breath (…), a phrase begins and then goes from there, or else it ends and goes to there”.
MUSIC
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Sourabh Sisodiya, CFA
Sourabh Sisodiya, CFA
@sourabhsiso19
One of all time favourite motivational song & I listen to it almost daily😊

Underrated song but a true nasterpiece with amazing lyrics & music👌🏻

https://t.co/Omhz4gyJqI

Let me know if you had heard this song before & how did you find it!

#music #inspiring
MUSIC
Howard Goodall
Howard Goodall
@Howard_Goodall
I'd like to say a few things in tribute to the brilliant musical director & vocal coach Kate Young, who died far too young last week. Even fellow musical theatre folk may not know what a trail-blazing talent she was, so here's my story of Kate (thread)/1

I first met Kate at a rehearsal for Wayne Sleep's 1983 touring dance show DASH, for which I was composer. What struck me first about her (apart from the poetic lilt of her warm, Edinburgh accent) was the impeccable care she was taking playing piano for dance rehearsals /2


(believe me, & I mean no disrespect to lovely dancers & choreographers but playing piano for dance sessions isn't called REPETITEUR for nothing and many repetiteurs switch to auto-pilot at the keys. Kate never did. Her playing was always immaculate)/3

We hit it off immediately & had long, ranty discussions about how we wanted to change musical theatre, like young people do. We had specific aims to do with the way singing was taught & shaped for the stage. /4

We wanted the singing to be much more text & meaning-focused, for actors to have the confidence to sing as well as trained singers & for the sound to be more nuanced, more plural in style & less belty & samey (tbh not sure we won that battle..) /5
MUSIC
Mr. Charles Isidi
Mr. Charles Isidi
@TheCharlesIsidi
I think Frank Edwards needs to hire a team to do major work sanitising and building a better digital experience for his music, his digital trail and everything else in between

I say this out of need to the larger lesson to creatives, i'd hate to restrict this to Christians alone

I love Frank Edwards, his songs form a huge part of my morning worship routine. But for the past two weeks, I've been looking for a song that I used to play a lot in my first/second year of uni and couldn't find it until I searched a random part of the lyrics and went as far as..

The 6th page on Google search. Yes, that's how badly I wanted it.

Even when I found the name of the song, the song was available as a lyric video on YouTube and published by someone entirely different from who I wanted to give streaming dollars to, that's if it counts for much.

Hit another bump. I want to subscribe, and I realise there's over 11 Frank Edwards on YouTube. Each with huge and growing subscriber numbers, that was worrying.

It was not until this morning I found one with 250k subscribers and I thought... Ah this has to be him.

I search on Google for Frank Edwards and his entire discography isn't listed on Google and it in fact worried me.

Now I am moving to upset because this is someone I love deeply and hate to see how there's so much low hanging fruit that he isn't taking advantage of.
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Anshul Pandey
Anshul Pandey
@Anshulspiritual
Rig Ved 1.36.7

To do a Namaskaar or bow before someone means that you are humble or without pride and ego. This means that we politely bow before you since you are better than me. Pranipaat(प्राणीपात) also means the same that we respect you without any vanity.

1/9


Surrendering False pride is Namaskaar. Even in devotion or bhakti we say the same thing. We want to convey to Ishwar that we have nothing to offer but we leave all our pride and offer you ourselves without any pride in our body. You destroy all our evil karma.

2/9

We bow before you so that you assimilate us and make us that capable. Destruction of our evils and surrender is Namaskaar. Therefore we pray same thing before and after any big rituals.

3/9

तं घे॑मि॒त्था न॑म॒स्विन॒ उप॑ स्व॒राज॑मासते ।
होत्रा॑भिर॒ग्निं मनु॑षः॒ समिं॑धते तिति॒र्वांसो॒ अति॒ स्रिधः॑॥

Translation :

नमस्विनः - To bow.

स्वराजम् - Self illuminating.

तम् - His.

घ ईम् - Yours.

इत्था - This way.

उप - Upaasana.

आसते - To do.

स्त्रिधः - For enemies.

4/9

अति तितिर्वांसः - To defeat fast.

मनुषः - Yajman.

होत्राभिः - In seven numbers.

अग्निम् - Agnidev.

समिन्धते - Illuminated on all sides.

Explanation : Yajmans bow(do Namaskaar) before self illuminating Agnidev by making the offerings of Havi.

5/9
RELIGION
Anu Satheesh \U0001f1ee\U0001f1f3
Anu Satheesh 🇮🇳...
@AnuSatheesh5
Yoga Ramar Temple
#Nedungunam
#TamilNaduTemples 🚩

Yoga Ramar Temple is located near Thiruvannamalai. Shri Rama is seated with eyes closed, without any weapons. Mata Sita  pointing to the feet of Rama telling that  everyone is safe at his feet. Lakshmana standing near Shri Rama


Hanuman is seen chanting Vedas obediently sitting before Shri Rama.

Sthala Puranam says that, Sukabrahma Maharishi had been doing Tapasya here, for the darshan of Sri Rama. Prabhu Shri Ram, pleased with his tapasya, came here after Rama Ravana yudham. Since Rama was returning


after the war, he did not have any weapons with him.

Another gopuram called Kili Gopuram is there for Sukabrahma Maharishi. There is a hill nearby called Dheergachala. According to Sthala puranam, Sri Padham of Prabhu Rama are found on the top of the hill


It is said that this is the place where Shri Rama gave darshan to Suka Maharishi. Nedumgunam means which shows all qualities of Shri Rama who is Maryadha purushottam. Shri Ramanavami is very famous here.

Jai Sri Ram
🙏🕉🙏
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Daoyu
Daoyu
@Daoyu15
@franciscodeasis https://t.co/OuQaBRFPu7
Unfortunately the "This work includes the identification of viral sequences in bat samples, and has resulted in the isolation of three bat SARS-related coronaviruses that are now used as reagents to test therapeutics and vaccines." were BEFORE the


chimeric infectious clone grants were there.https://t.co/DAArwFkz6v is in 2017, Rs4231.
https://t.co/UgXygDjYbW is in 2016, RsSHC014 and RsWIV16.
https://t.co/krO69CsJ94 is in 2013, RsWIV1. notice that this is before the beginning of the project

starting in 2016. Also remember that they told about only 3 isolates/live viruses. RsSHC014 is a live infectious clone that is just as alive as those other "Isolates".

P.D. somehow is able to use funds that he have yet recieved yet, and send results and sequences from late 2019 back in time into 2015,2013 and 2016!

https://t.co/4wC7k1Lh54 Ref 3: Why ALL your pangolin samples were PCR negative? to avoid deep sequencing and accidentally reveal Paguma Larvata and Oryctolagus Cuniculus?
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Amit Schandillia
Amit Schandillia
@Schandillia
[THREAD: HISTORY OF THE HINDU TEMPLE]
1/102
Four hours south of Aswan in Lower Nubia, right by the Nile, is a region dotted with temple complexes built more than 3,000 years ago. Some like the temples of Amada, Derr, and Beit el-Wali go as far back as 1500 BC.


2/102
A little further south, not far from the border with Sudan, is another complex dedicated to Ramses II, Hathor, and Nefertari in the village of Ipsambul, better known locally as Abu Sunbul and internationally as Abu Simbel. These go back to the 13th century BC.


3/102
Djeser-Djeseru, also known as the mortuary temple of Hatshepsut in Upper Egypt also dates to 1400 BC. Over 500 years older is the nearby Mentuhotep II, also a mortuary temple. Both were dedicated to the cult of Amun Ra, besides their respective pharaohs.


4/102
Far older is the Ġgantija complex of Malta. Going as far back as 3600 BC, this one comprises of two temples entirely made of stone and enclosed in a stone wall. From the figures therein, it's understood to be a site of some kind of a fertility cult worship.


5/102
Dating from the same period are the limestone megaliths of Ħaġar Qim and Mnajdra, both said to have once hosted ritualistic sacrifices as part of the same fertility cult worship as found in the Ġgantija complex. Malta has some of the oldest temple complexes in Europe.
RELIGION
Rudy Havenstein, listening to Nas all day.
Rudy Havenstein, liste...
@RudyHavenstein
I hate when I learn something new (to me) & stunning about the Jeff Epstein network (h/t MoodyKnowsNada.)

Where to begin?

So our new Secretary of State Anthony Blinken's stepfather, Samuel Pisar, was "longtime lawyer and confidant of...Robert Maxwell," Ghislaine Maxwell's Dad.


"Pisar was one of the last people to speak to Maxwell, by phone, probably an hour before the chairman of Mirror Group Newspapers fell off his luxury yacht the Lady Ghislaine on 5 November, 1991." https://t.co/DAEgchNyTP


OK, so that's just a coincidence. Moving on, Anthony Blinken "attended the prestigious Dalton School in New York City"...wait, what? https://t.co/DnE6AvHmJg

Dalton School...Dalton School...rings a

Oh that's right.

The dad of the U.S. Attorney General under both George W. Bush & Donald Trump, William Barr, was headmaster of the Dalton School.

Donald Barr was also quite a


I'm not going to even mention that Blinken's stepdad Sam Pisar's name was in Epstein's "black book."

Lots of names in that book. I mean, for example, Cuomo, Trump, Clinton, Prince Andrew, Bill Cosby, Woody Allen - all in that book, and their reputations are spotless.
EPSTEIN NETWORK