And they said don't worry, it's just teething problems
First they came for the 🐟
And John Redwood said the 🇬🇧 fishing industry would adjust
And they said don't worry, it's just teething problems
And there the Minister wrote a letter saying 🇪🇺 was wrong, when his officials knew 🇪🇺 was right
They're still waiting
We do not recognise the numbers, the 🇬🇧 Government says
They cannot even send the potatoes to Northern Ireland
So they set up operations in 🇪🇺 countries, something 🇬🇧 Department for International Trade acknowledged was a good idea
So they put on half a dozen 🇮🇪-🇫🇷 ⛴ routes to avoid 🇬🇧 altogether
And so the boss of the 🏴🏦 "warns" 🇪🇺 they are being unfair, but has no solution
No one knows who will do the jobs these people did once the economy recovers somewhat post-COVID
However you look at it, this makes *no sense*
It's not if you're pro-Brexit or not. It's about having a sensible view of the economic future of the country. Where is it?
/ends
More from Jon Worth
It all revolves around parliamentary sovereignty, Tory party shenanigans, and Johnson's need to survive and if that contradicts with doing the right thing
Bear with me - this is messy but important
1/12
Why will it be hellish?
We *know* that there will be a vote on Coronavirus Tier system on Tue 1 Dec, with the system to come into force from the end of 2 Dec
There *might* be a Brexit Deal at the start of next week as well, and Johnson having to OK it or not
2/12
Coronavirus first
I am not well placed to judge whether the Tier system is right (don't @ - reply me about that), but it's enough to say there are 3 grounds for critique
- do lockdowns work?
- does THIS lockdown system work?
- has my town/region been harshly treated?
3/12
Those are enough grounds for plenty of parliamentary opposition on the Tory benches, and on opposition benches too.
Labour could easily justify voting against in that some of the judgments on Tiers are not strictly based on the science
But what does voting *against* mean?
4/12
Were the vote lost, there would be little or no actual practical consequence regarding the Coronavirus restrictions - as discussed with Adam Wagner the government would almost certainly table Regulations using its emergency powers
Yes they could table new regulations and could use the emergency procedure so that parliament doesn't have to vote on them until 4 weeks later. So the govt has a lot of leeway (legally if not politically)
— Adam Wagner (@AdamWagner1) November 27, 2020
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
Pretty clear again speaking to Mep's they won't countenance debating or ratifying any EU-UK trade agreement before December 31st #Brexit
— Shona Murray (@ShonaMurray_) December 15, 2020
Mep's are pretty annoyed at the very suggestion that it would be provisionally applied and the ratification would be a simple rubber stamp.
More from Finance
I credit Fintwit for my learnings.
Here's 10 key concepts every investor must know:
1. $$ needed to retire
2. Researching a business
3. Reading annual reports
4. Reading earnings calls
5. Criteria of a multi bagger
(Read on...)
6. Holding a multi bagger
7. Economic moats
8. When to buy a stock
9. Earnings vs cashflow
10. Traits of quality companies
Here's my 10 favourite threads on these concepts:
1. How much $$ do you need to retire
Before you start, you must know the end game.
To meet your retirement goals...
How much $$ do you need in your portfolio?
10-K Diver does a good job explaining what's a safe withdrawl rate.
Hint: It's NOT
1/
— 10-K Diver (@10kdiver) July 25, 2020
Get a cup of coffee.
In this thread, I'll help you work out how much money you need to retire.
2. Research a business
Your investment returns are a lagging indicator.
Instead, your research skills are the leading predictor of your results.
Conclusion?
To be a good investor, you must be a great business researcher.
Start with
1/ Thoughts on Research Process
— Mostly Borrowed Ideas (@borrowed_ideas) September 27, 2021
I was invited to present my research process at a college in the US. I am sharing all ten slides here. pic.twitter.com/z0tjZcogfH
3. Reading annual reports
This is the bread and butter of a good business analyst.
You cannot just listen to opinions from others.
You must learn to deep dive a business and make your own judgments.
Start with the 10k.
Ming Zhao explains it
\U0001f9d0How to Read 10Ks Like a Hedge Fund\U0001f9d0
— Ming Zhao (@FabiusMercurius) May 7, 2021
\u201cFundamentals don\u2019t matter anymore!\u201d I\u2019ve heard this a lot lately on Fintwit.\U0001f644
But, for those who\u2019ve diversify beyond $GME and $DOGE, here\u2019s a primer on what metrics fundamental buy-side PMs look at and why:
(real examples outlined)
\U0001f447 pic.twitter.com/tLlNRvpnDK
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