BC MUSIC
Saved by @SAnngeri

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.
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Tar \u26a1
Tar ⚡
@itsTarH
Saw a few posts where #LaurusLabs is being floated as 100x candidate from here.

That would mean it would need a market cap of 35 lakh crore+ ($466 Billion) to achieve that goal.

Not going to happen.

Most optimistic goal is a 3 lakh cr market cap ($40 Billion) in next 10 yrs.

Don't fall for accounts selling you false hope
Apply some common sense

Folks who bought Laurus at its lowest of Rs 52 per share may (Big May) see a 100 bagger, entering now will not

Laurus is my largest position, so this is not a criticism, just setting realistic expectations
ITSTHLEARNINGS
Tar \u26a1
Tar ⚡
@itsTarH
It's the weekend!

Grab a cup of coffee, in this thread I will explain

1. What a cash flow statement is?
2. What does it tell you about a business?
3. How to analyze one?

Examples included various Indian companies.

Let's dive right in.


Cash flow statement is a financial statement published by a company every quarter and annually.

It comprises of all transactions that a company does in cash or cash equivalents.

*Cash equivalents are other liquid assets that can easily be sold for immediate cash.

This is what a typical cash flow statement looks like


Cash flow statement is important as it gives you transparency into how the company utilizes its cold hard cash generated by the business.

Because we are following actual cash, there are very few accounting tricks that can be employed in this section.

A cash flow statement has three main parts:

1. Cash Flow from Operations (CFO)
2. Cash Flow from Investing (CFI)
2. Cash Flow from Financing (CFF)

Let's dive into CFO in detail.

*CFI and CFF will be covered in a separate thread
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Tar \u26a1
Tar ⚡
@itsTarH
#IEX

At 32% CAGR, Revenue doubles every 2.25 years.
All this while margins keep increasing.


"IEX is just an exchange and will lose its share once happens. It is not a technology company"

Meanwhile 👇🏼
IEX
Tar \u26a1
Tar ⚡
@itsTarH
Cause everyone wanted to buy it at 300+ and no one wants to buy it at 200

Market is short sighted and loves to buy high and sell low

Sequent is a long gestation stock, it won't deliver it's real earnings until FY23-25

Not suitable investment for those who want 100% return/yr


https://t.co/7ytUeSd7gg
SEQUENT , SEQUENTINFO
Tar \u26a1
Tar ⚡
@itsTarH
It's the weekend!

Grab a cup of coffee, in this thread I will explain

1. What is a Yield Curve?
2. Why is it an important indicator of Recession?
3. Is an Economic Recession around the corner?

Lets dive right in!


Before we understand a Yield Curve, lets get some of the basic terminology out of the way

1. What is a Bond?

A bond is a fixed income financial instrument which represents a loan made by an investor to a borrower

The investor typically receives payment in the form of interest and a lumpsum (principal) on maturity

The interest rate on a bond is known as coupon rate.


There are many types of bonds like

1. Zero Coupon : Pays both interest and principal at maturity
2. Sovereign Bonds : Issued by a Government or a Quasi Government Institution
3. Corporate Bonds : Issued by corporate like banks, established companies etc.


Coupon (Interest Rates) on a bond are decided based on the issuer's credit rating

The higher the credit worthiness of the issuer, the lower the coupon rate

Credit Rating on a Bond is usually assigned by credit rating agencies like Moody's or Standard & Poor's (S&P)
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Mr. Charles Isidi
Mr. Charles Isidi
@TheCharlesIsidi
I think Frank Edwards needs to hire a team to do major work sanitising and building a better digital experience for his music, his digital trail and everything else in between

I say this out of need to the larger lesson to creatives, i'd hate to restrict this to Christians alone

I love Frank Edwards, his songs form a huge part of my morning worship routine. But for the past two weeks, I've been looking for a song that I used to play a lot in my first/second year of uni and couldn't find it until I searched a random part of the lyrics and went as far as..

The 6th page on Google search. Yes, that's how badly I wanted it.

Even when I found the name of the song, the song was available as a lyric video on YouTube and published by someone entirely different from who I wanted to give streaming dollars to, that's if it counts for much.

Hit another bump. I want to subscribe, and I realise there's over 11 Frank Edwards on YouTube. Each with huge and growing subscriber numbers, that was worrying.

It was not until this morning I found one with 250k subscribers and I thought... Ah this has to be him.

I search on Google for Frank Edwards and his entire discography isn't listed on Google and it in fact worried me.

Now I am moving to upset because this is someone I love deeply and hate to see how there's so much low hanging fruit that he isn't taking advantage of.
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Julieta Ovalle
Julieta Ovalle
@julietaovallep
"Music, Sense and Nonsense: Collected Essays and Lectures", por Alfred Brendel.

Capítulo: “Conversations - Talking to Brendel with Jeremy

Ya casi llegamos al final de este maravilloso libro. En esta sección, Brendel comparte varias entrevistas. La primera de ellas fue en 1972 con Jeremy Siepmann, músico, locutor, articulista y autor de varios libros sobre música.


Si bien después de 377 hojas ya tenemos una buena idea sobre las opiniones de de Brendel sobre la música y el quehacer musical, en esta entrevista revela varios puntos de vista.


Sobre si disfruta interpretar música, Brendel responde que sí, sobre todo en los últimos años, “when I’ve had the impression that much of what I do comes across. Of course, one very rarely knows if the right things come across)”.


Sobre si los intérpretes existen para vincular al compositor con el público, Brendel afirma que le interesa más la relación del intérprete con el compositor que con el público: “What fascinates me is to make sense of a piece of music while it sounds”.
MUSIC
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Julieta Ovalle
Julieta Ovalle
@julietaovallep
"Music, Sense and Nonsense: Collected Essays and Lectures", por Alfred Brendel.

Capítulo: “Conversations - On Schnabel and Interpretation with Konrad

En esta conversación de 1979, Alfred Brendel y Konrad Wolff, autor de “The Teaching of Artur Schnabel. A Guide to Interpretation”, discuten sobre ciertos puntos en los que Brendel no coincide con Schnabel.


Para Wolff, Brendel es el primer pianista desde Schnabel que ha gozado de plena autoridad en la interpretación de Mozart, Beethoven y Schubert. Además, en su opinión, su enfoque tiene mucho en común con el de Schnabel en los detalles de fraseo, tempo y dinámicas.


Sin embargo, hay varias opiniones en las que Brendel difiere de Schnabel. Para Brendel, las frases son como curvas que no necesariamente se miden por compases: “Very often for me the art of phrasing consists in forgetting about bars, ignoring bars and seeing large units”.


Por su parte, de acuerdo a Wolff, Schnabel veía las frases en función de la respiración y del énfasis al principio o al final: “he wanted to know how far he was to play before there was a breath (…), a phrase begins and then goes from there, or else it ends and goes to there”.
MUSIC
The Other Chris
The Other Chris
@TotherChris
Boxerman
----------
(Sung to the tune of Wellerman)

[A Musical Thread]


🎵
There once was a plan for an AFV
The name of the plan was the MIV
There’s more to the tail than you may know
Brew that bivvie boys, brew
🎵

(Hurr! 💪)

🎶
Soon may the Boxerman come
To bring us armour and tea and gun
One day, when the fightin’ is done
We’ll take our wheels and go
🎶

🎵
They must deploy two kay from shore
Fit two to a Herc or maybe more
We envied all that Soviet Cav
And soon was born MRAV
🎵
MUSIC
Howard Goodall
Howard Goodall
@Howard_Goodall
I'd like to say a few things in tribute to the brilliant musical director & vocal coach Kate Young, who died far too young last week. Even fellow musical theatre folk may not know what a trail-blazing talent she was, so here's my story of Kate (thread)/1

I first met Kate at a rehearsal for Wayne Sleep's 1983 touring dance show DASH, for which I was composer. What struck me first about her (apart from the poetic lilt of her warm, Edinburgh accent) was the impeccable care she was taking playing piano for dance rehearsals /2


(believe me, & I mean no disrespect to lovely dancers & choreographers but playing piano for dance sessions isn't called REPETITEUR for nothing and many repetiteurs switch to auto-pilot at the keys. Kate never did. Her playing was always immaculate)/3

We hit it off immediately & had long, ranty discussions about how we wanted to change musical theatre, like young people do. We had specific aims to do with the way singing was taught & shaped for the stage. /4

We wanted the singing to be much more text & meaning-focused, for actors to have the confidence to sing as well as trained singers & for the sound to be more nuanced, more plural in style & less belty & samey (tbh not sure we won that battle..) /5
MUSIC

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We all have heard and read the Satyanarayan katha. But none of us dont know the original stories that Shatanand or Sadhu or Kalavati must have heard. Also, as a habit we hear or read this katha


but dont know the proper way it should be conducted.

We find its mention in Skanda puraan(Reva khand) and Bhavishya Puraan(Pratisarg parva).
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Gal Gur 🇮🇱...
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1/
Hello, my name is Gal,
I am an Israeli citizen, and I want to convey this urgent message to the world: Contrary to what you are told, Israel has not "returned to normal" in any way >>

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The best way to know if people like your product is NOT:

- Have a lot of emails in the waiting list
- Become #1 on PH
- Become #1 of HN or Reddit
- Have people that saing "I'll pay"
- Have a lot of free users

The best way to know if they're actually pay for it.

The only thing that matters is your product providing a value, and you can't know this until people will pay money for it.

We can have a first signal of a product/market fit after the launch by check how many sales we've got in the first 24h. Some scale:

200+ This has a high potential.
100+: This has a potential.
50+: Some people need it.
10+: People almost don't need it.
0+: People don't need it.

This is for a single time payment product. For a subscription probably it should be less because people hate subscription.

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1/ there is this sense when you are young that your accomplishments need to be a list of things that seem impressive to others. A list of several items you did.

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