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1/21 Thread on the Terms of Reference (lifted from the Press Release for those who haven't read it yet). @BerryCathal @GCraughwell @RACO_DF @ARCOIreland @pdforra


2/21 In addressing the detailed tasks as provided for in its ToR, the Commission will have regard to immediate requirements while also seeking to develop a longer term vision for beyond 2030.

3/21 This is against a backdrop of the high-level Defence goal which is to provide for the military defence of the State, contribute to national and international peace and security and fulfil all other roles assigned by Government.

4/21 This fits within the broader context of the protection of Ireland’s defence and security interests nationally and internationally.

5/21 The Commission’s approach should aim to ensure that the @DefenceForces will remain agile, flexible and adaptive in responding to dynamic changes in the security environment, including new and emerging threats (such as from climate change) and technologies.
OK, it can be avoided no more.

This is perhaps the most complex 🧵 on #Brexit I've ever attempted. But this issue really matters.

Business, possibly even lives, depend on getting this stuff right.

It is about the complexity of Brexit delay, and what to do about it.

1/25

If negotiations had gone to plan, it would have worked thus:

1️⃣ 🇬🇧&🇪🇺 agree a Deal, politically
2️⃣ That is then turned into a legally ratifiable text
3️⃣ Both sides then ratify - on 🇪🇺 side Member States and the EP, 🇬🇧 side the Houses of Parliament
4️⃣ Deal in force 1.1.2021

2/25

The problem: we do not have 1️⃣ yet.

And with just over 16 days to go - including 🌲 - we do not have time for 2️⃣ and 3️⃣ and hence no 4️⃣.

We *might* have time for 2️⃣ - and that could prove to be significant (see tweet 7 below), but definitely not 3️⃣ on 🇪🇺 side.

3/25

*Essential* problem: by having spent so long talking (I think 🇬🇧 tactic has been to run down the clock -
https://t.co/8EJZAJZHqz ) the path to a normal ratification is now ⛔️.

Now ratification becomes harder - legally, politically, practically - with every passing hour.

4/25

The most obvious stumbling block is...

🥁🥁🥁

... the European Parliament!

Parliamentary sovereignty, eh? A topic for another time.

Anyway, the EP has said it will not vote on a Brexit Deal this
We've already established that $INTC is about to lose serious market share in the PC market but truth be told, Intel's most important segment is probably what it terms as the "Data Center Group", it's data center business. So what are Intel's prospects there? Let's do a deep dive


While Intel's CCG segment (the PC segment) is fairly stagnant, The Data center segment (henceforth DCG) has been growing nicely for years. 2019 revenue are ~50% above 2015 and the segment has shown nice growth 2020 so far


So what has enabled an old mature co like $INTC to suddenly grow so fast in a major segment?
It's kind of obvious, isn't it? the CLOUD.
The DCG segment actually contains 2 very different activities - Traditional data center and hyper cloud

And while it's hyper cloud business was booming, it's traditional data center business was stagnating.
We estimate that between 2014-2019, Hyper cloud grew at ~30% CAGR with Traditional data center operating without growth


So it's pretty easy do see that the future of $INTC lies in its hyper cloud business. We've established that it faces a bleak future in PC and traditional data center, well, let's just say it's not a growth business.
buffalo uses dominion scoreboard software so not really


DEAD PEOPLE SCORED FOR BUFFALO!

A truck delivered off a suitcase full of points at halftime from Canada for Buffalo.

#StopTheSteel !!!!

I’ll be submitting sworn affidavits from Steelers fans than they saw the Buffalo rigging the game but I want to emphasize that I’m not under oath.
1/x Vanna joined the wheel of fortune on this day in 1982,& 38 years later she’s stronger than ever...Friday’s into the Mon of qrtrly OpEx in particular aren’t a time to trifle w/her...As called for, the market continues to try & shake out weak hands from overextended positioning


2/x by both HF & Retail, but ultimately these moves are no match for our fair lady’s charming flows during this window, & should continue to support this market through 12/16 w/ qrtrly Vixperation & the Fed upon us....As I highlighted Fri, the minor correction in price/time that

3/x we got down to the 20 day, w/precise technical support at that level, paired w/ increasingly positive Dark Pool (DIX) demand was a textbook buy signal, given the timing...Despite all of this, the real story is not these positive flows nearly as much as the continued reflexive

4/x IVol compression...This is the holiday gift that keeps on giving. Along w/ continued targeted short Vol, massive calendar expansion & dispersion opportunities continue to print $ with VRP >94th % of occurrences & post 1/8 Vol still at a floor... This $ train doesn’t show any

5/x sign of stopping yet, as I expect Ivol oversupply should continue to be the dominant force through at least 12/16 & once we get through 12/21 without incident, likely beyond...W/ lots of imbedded potential energy still in the VRP to fuel more vanna/charm flows in the month to