1/ Today is Winter Solstice. We
WAKE UP to the DARKEST DAY of the Year.

#Suven – Journey of my first 50 bagger…

I bought #Suven first in Apr 2013 around Rs 20…today after almost 7.5 years, its Rs 1000 (Suven pharma 920 adjusted for bonus + Suven Life 80)..CAGR of almost 68% for 7.5 years. I am fortunate to hold it throughout the journey and

1/n

add on multiple occasions on way up. Like to share my experience in this thread for everyone’s benefit..

First time I bought because I like the management focus on R&D. It had chosen the most difficult therapeutic area in pharma which is CNS and it was investing the cash

2/n

flow it used to earn from CRAMS. It also used to write off all the R&D expenses in the P&L instead of capitalizing it in BS. That gave me lot of comfort about management quality.

I kept on adding as funds keep coming. I remember giving a public presentation on Suven in

3/n

Mumbai at one analyst meet in Nov 2017 when it was trading at Rs 160. There was a huge call option embedded at that time in the form of SUVN-502. That would have been the blockbuster molecule if succeeded with market potential of $10 Bn plus..result was due in Dec 2019,

4/n

I loaded around 250-300 knowing the value of CRAMS business itself is more than 300.

SUVN-502 failed in phase-II trials, stock was down 15% from 300 to 250 in a single day, I added heavily. it was largest allocation in my portfolio because I knew the value of CRAMS business

5/n

"The engineers on my team just want to code. They don't want to have anything to do with product. They just want specs. What do I do?"

1/n Are you asking them do to X *and* do their "day job" as defined by their managers (and frankly your roadmap) ?

If so, start there...

2/n Do they have a reason to believe that doing X will in any way improve the quality of the product and make their lives easier? Have they ever seen X "work" ?

Show don't tell.

3/n Is there average day/week a quagmire of unnecessary meetings, wading through tech debt, struggling to get *anything* to work ... and jumping through process hoops to prove their worth?

If so...no they will not have bandwidth.

4/n How do incentives work on the engineering team? Maybe they want to help, but their "grade" is determined by something altogether different.

"I'd love to, but I am on the hook to deliver [some project] this quarter to make a good impression..."

Talk to eng management.

5/n Have they had any time to practice?

Or did they get thrown into the deep end the first time they were given a shot ... expected to brainstorm on demand, be as vocal as practiced PdMs and designers, and "participate" !

Make it safe to practice. Reasonable expectations.

From @jack:

Starting now, we are changing the way we do things at Twitter. Even though we have been following policies we created, that we thought were good and necessary, it just hasn’t had the desired effect of promoting good discourse. Effective immediately, we are changing.

The basic principle that now guides us is that instead of trying to manipulate discourse, we are opening it up, and making ourselves more transparent and accountable, and resisting attempts at censorship of us or our users.

Further, we have been fundamentally operating under the false premise that we, our our news and fact-checking partners, are smarter or better at understanding information than you, our users, are. This is a vain fiction, and we will drop this pretense.

We have long known that we are not just another social media site, but the place where citizens, governments, and organizations communicate with each other, for essential purposes. We have a great responsibility to the public to be open. So, we change to improve.

First: we will no longer proactively delete any content, except for: private information harming a person other than who posted it (e.g. doxxing, revenge porn, etc.), and any content we are legally required to remove.

Morning. The #TexasFreeze continues & grid operator ERCOT is still reporting >31,000 MW of thermal generation capacity out as of 9AM CT. Down slightly from a peak of 34,000 MW reported yesterday afternoon (https://t.co/jNMR4ibyY0) but still >40% of thermal capacity in state!

Wind power is currently producing about 4,000 MW, or 2/3 of the ~6,000 MW that ERCOT was counting on wind to contribute during winter peaking events. Solar is coming online now and helping during daytime, exceeding the <300 MW it is counted on for in system planning.

Main story continues to be the failure of thermal power plants -- natural gas, coal, and nuclear plants -- which ERCOT counts on to be there when needed. They've failed. Of about 70,000 MW of thermal plants in ERCOT, ~25-30,000 MW have been out since Sunday night. Huge problem.

ERCOT started directing electric utilities (like Oncor or Austin Electic) to start rolling blackouts or involuntary emergency load shedding at 1:25am on Monday morning, with 10,500 MW shed during that late morning. That's ~2 million homes worth of load

Throughout Monday, many thermal power plants remained offline, as freeze-offs + fuel shortages in gas pipelines forced large numbers of natural gas plants offline. Many coal plants likely struggled as well w/frozen coal piles, but breakdown of thermal outages by fuel type unclear

Some familiar figures are pushing the absurd and defamatory claim that Ken Loach supports Holocaust denial. The story of this bogus talking-point, which relies upon multiple layers of falsehood and guilt-by-association, makes for a revealing case-study. 1/

It dates back to the 2017 Labour conference. In a NYT op-ed, Howard Jacobson claimed that “a motion to question the truth of the Holocaust was proposed” from the conference floor—a crude fabrication, which the NYT sanctioned in its pages. 2/

If you follow the link supplied by Jacobson or his editors, you’ll see that he was wrong on 3 counts: it wasn’t a motion, it wasn’t at the conference, and it wasn’t in favour of Holocaust denial. Quite the hat-trick! 3/

At a fringe meeting, granted no official status by Labour, an Israeli-Jewish speaker, Miko Peled, had said that he didn’t think Holocaust denial should be a criminal offense (which it is in some European countries). 4/

This is a perfectly reasonable position to hold—that opinions, no matter how wrong-headed or morally objectionable, should not be a matter for the criminal law—and of course it does not mean that Peled himself questions the truth of the Holocaust. 5/