China becomes a net importer of Aluminium

Crackdown on factories in China driven by political rulings to curb emissions

Nalco delivers the highest grossing quarter ever

2+2 = 20 https://t.co/paEk76EaGT

https://t.co/eabqmzuU2v
VP Thread on Nalco
https://t.co/SpTcbmWUOg
Nalco's earnings have very high sensitivity to aluminum price. In fact, it’s earnings double for every US$400/t increase in aluminum price.

https://t.co/aqbthw1gFP
Aluminum Prices just ~14% away from their ATH of 3000+ USD/T
Aluminum Prices at 10yr High!
The wonders of Aluminum

https://t.co/RJ2rS2rCM1

More from Tar ⚡

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

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