BC TRADING
Saved by @Alex1Powell

0/ We've highlighted FinTech infrastructure co's like BR, FIS, JKHY, MA, V, ICE, NDAQ, etc. as companies w/ a variety of moats that have led to dominant mkt share & outperformance despite being 50+ years old on avg.

$FISV had their investor day yesterday and laid out the why.

 1/ $FISV highlights the fact that they have #1 market share in core accounting processing for $1-$50B FI’s; they are doing $1.0B in global e-Commerce revenue, and have more than $30B available for capital allocation over the next 5 years (read more M&A for FinTech co's)
2/ They have global reach with clients in more than 100 countries, more than 1,000 products & services, 10,000+ FI clients, & 6M merchant locations.

All while being #1 as a core account processor, merchant acquirer, bill pay, P2P payments, etc...
3/ This business model + market positioning has led to incredibly strong outperformance since inception ~35 years ago with cumulative $FISV shareholder returns of +42,171% vs. the $SPY at 3,327% & Nasdaq at 4,355%.
4/ $FISV has grown via a series of acquisitions over the past 30 years most recently the $22B tie up w/ First Data.

They highlight the progress on the deal & new goals post integration.

M&A is a skill & FISV has it financially; tech integration leaves something to be desired
5/ They highlight 4 key pillars (all of which they claim #1 market share)
(i) Merchant Solutions
(ii) Integrated Banking
(iii) Digital Payments
(iv) Card Payments
6/ Given the unparalleled size & scale they have unique access to data which should in theory inform new products / use-cases for their end clients.

They conduct more than 12,000 financial tx / second & reach nearly ~100% of US households
7/ In 2020 even the leader in FinTech infrastructure boasts about being "nearly all in the cloud" which shows how far the industry has to go.
8/ $FISV is very much focused on the future of banking / open banking which requires multi-industry distribution of financial services / products enabled by cloud & open APIs
9/ The Next-Gen Banking core requires:
(i) Flexible API Service Architecture
(ii) Security & Fraud Tools
(iii) Third Party Integrations
(iv) Data & Analytics

This is a slide I imagine a number of BaaS companies look to emulate in future decks.
10/ $FISV also provided some healthy market share data.

They believe $90B was spent in '20 by Financial Institution on IT which is projected to grow at a 6.3% CAGR through '24.

For those that believe FinTech B2B infrastructure is saturated thats a portion of the pie
11/ $FISV has their own land & expand strategy and sees another $4.7B of opportunity for add-on solutions.
12/ $FISV is the #1 issuer processor with unparalleled leadership in card payments. They have 1.4B accounts on file across 6,000 clients, and 80 countries.

With talks of @Marqeta going public next year this will be an interesting comp for this business line.
13/ They highlight their model is for large issuers w/ a single platform that delivers debit, commercial cc, prepaid, installment loans, private label, & general purpose accounts.

This is part of the oppty co's like Marqeta & Galileo saw $FISV won't entertain the startup.
14/ On the payment side $FISV highlights the growth in payment revenue, RTP, Bill Payment, P2P transactions, and A2A transfers all as part of a large but ever growing mkt opportunity.
15/ $FISV pegs a $1.0B+ revenue opportunity for digital payments. Their NOW Network currently serves 7 of the top 10 U.S. financial institutions.
16/ $FISV's growth plans for payments are focused on:
(i) Omnichannel Capabilities
(ii) Horizontal Commerce Solutions
(iii) Leading Technology
(iv) Payments Innovation
(v) Local Execution
(vi) Integration Advantages
17/ Besides growth domestically there are significant opportunities ex-US in APAC, LatAm, India, and SE Asia, all areas where $FISV has a strong market presence & will continue to invest / buy given the growth pot'l.
18/ Like most companies in this market $FISV talks up their recurring revenue opportunity as subscriptions are eating the world (@pipe)
19/ $FISV expects to grow top line at 7-9% / year and EPS at 15-20% / year.

Yet it currently trades at ~22.5x EPS and 16.5x EV/EBITDA effectively market multiples.

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1. Overconfidently reach for returns
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1/n

Nearly everyone starts with a lack of respect for how hard it is to consistently make money trading.

That leads them to pass over high-probability sources of returns in favor of more marginal ideas.

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2/n

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(I've extended back a bit with mutual fund prices.)

3/n


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You'd have 4x your money from 1997 to 2015.

It makes sense. It's harnessing two big sources of risk premia (equity + duration).

It diversifies across 3 macro assets that tend to outperform in different econ environments

4/n

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5/n
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despite the warnings of top law enforcement officials

and NOBODY is talking about this.

(2/25) First, a little about me. I used to be a licensed sexual assault crisis counselor, counseling victims admitted to one of three Minneapolis emergency rooms.

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@InvestmentBook1
Knowledge sharing initiative Book 4: "The interpretation of financial statements" by Benjamin Graham.

This book was published around 1937 by investing legend Ben Graham. Ben is also regarded as the guy under whom the great Warren Buffett started his investing journey.


This book teaches financial statement analysis in a very simple manner. It also focuses on the key relationship between P&L, B/s & Cash flow statements of a company.

Here are key takeaways from the book 👇👇

1.B/s shows how much a company owns (assets) & owes (liabilities) at a particular point in time mostly prepared on a semi-annual & annual basis.

2.Assets=Tangible (PP&E, inventories, accounts receivable, cash)+intangible Assets (trademark, lease rights, goodwill)

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4.Tangible assets are written down through depreciation & intangibles are written down through amortization or impairment

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6. Depletion gets applied in commodity businesses like cement, mining, and crude oil.
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@AdityaTodmal
12 TRADING SETUPS used by professional traders:🧵

Collaborated with @niki_poojary

Here's what you'll learn in this thread:

1. Capture Overnight Theta Decay
2. Trading Opening Range Breakouts
3. Reversal Trading Setups
4. Selling strangles and straddles in Bank Nifty
6. NR4 + IB
7. NR 21-Vwap Strategy

Let's dive in ↓

1/ STBT option Selling (Positional Setup):

The setup uses price action to sell options for overnight theta decay.

Check Bank Nifty at 3:15 everyday.

Sell directional credit spreads with capped


@jigspatel1988 2/ Selling Strangles in Bank Nifty based on Open Interest Data

Don't trade till 9:45 Am.

Identify the highest OI on puts and calls.

Check combined premium and put a stop on individual


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To be used when the market opens above yesterday's day high

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