Aarti Drugs conducted their earnings con-call today at 4:00 PM

"Target of 4500+ cr topiline till 2025"

@unseenvalue @darshanvmehta1 @sonalbhutra @Milind4profits

Here are the key highlights 😀👇

Zurich axioms - A book on Risk taking, by Max Gunther

@safiranand @jposhaughnessy @Vivek_Investor @BalakrishnanR @Covel @shyamsek @_anshulkhare

#investing
#Bookthread 👇🧵

Switzerland, a country with no strategic or geographical advantage, became the world’s banker by learning how to manage risk and facing it head on.

Zurich axioms are simple rules in order to learn about betting to win.

The First Major Axiom:
ON RISK

- Life is an adventure. In order to experience life to its full potential one has to take meaningful risk.. All Investments are speculation. Some people accept it. some don’t.
Always play for meaningful stakes.

- An investment with a small stake would not incur significant loss but will not generate any significant gain too. It should also not be so huge that loss would bankrupt a person.

- Resist the allure of diversification. The more one diversifies, the smaller the speculation gets. Through diversification all the losses and gains are likely to cancel out and no sizable difference is made.

HDFC Life Concall was today at 5.15 pm

Here are the key highlights of the Conference call 😀👇

@dmuthuk @datta_arvind @Vivek_Investor @connectgurmeet @Prakashplutus

Business Updates:

• Continue to see pickup in saving business.
• Growth is there both in volume of policy and increase in ticket size.
• Market share remained increasing at 27% and is increasing gradually.
• Solvency Ration remained at 202%.

• Bank Assurance Channel has grown 22%. Agency Channel continuous to gain growth. HDFC Bank remained growth drive.
• Company is continuously partnering with new channel partners.
• Risk Management has been constantly watched and remained on track.

• Product Mix across key channels shown is growth gradually.

New Scheme Launches: Company has yesterday launched new health plan with add on features.

Tax:
• Tax is now no longer a reason for the people to buy insurance, as customer perspective towards Insurance is improving.

Saving
• Savings have been coming back to the growth target.
• People during the covid and post covid is continuing the saving plan.

Cipla concall was today at 10:40 pm (late night)

Here are the key takeaways 😃

@unseenvalue @darshanvmehta1 @AlgoBoffin @iramneek

Introduction

- Company being the first one to launch Remdesivir and the whole portfolio for covid 19

- Company is no.2 in lung leadership. Will try to unlock the complex generics in US.

- Growing faster than the average market growth.

- Trying to bring respiratory technology in China and in Brazil.
- There is a fair amount of unlocking through digitalization.
- ESG to improve in future. Becoming carbon neutral and water neutral.

US business
- Were able to add

- would be doubling the revenue in US.

- The pipeline is nicely diversified , now the products are diversified into respiratory + injectable around 30%

Indian market: One india strategy
- To cosumerize the business.

- Generic business is no.1 in india.

- Brand is moving from generic business to consumer business.

- Goal is to keep beating market growth by expanding the depth in portfolio.

Jyothy Labs conducted their earnings con-call today at 3:00 PM

Here are the key highlights 😀👇

@drprashantmish6 @unseenvalue @proxy_investor @deepakshenoy

#concall

Sector Trend:
• Strong demand in Homecare and healthcare
• Institutional business has gradual comeback and now near to pre-covid level
• New launches: Exo All Surface Cleaner launched in South of India
• Media spent increased for more growth
• Market share has been improved

Business: Updates:
• A&P spend increased with growth in business segment.
• Segmental performance in image.
• Due to lower other expenses the EBIDA margins have seen growth insipte of increase in adv. cost.

Business segment:
• Mainwash segment has started doing better.
• Postwash segment is still constrain as school and office are closed. However there is gradual growth.
• Dishwash segment remain robust and company continuous to see good growth over diswash.

Sales Growth:
• Higher utlization has been helping in decreasing the cost.
• Sales force with higher utlization reduces per cost, hence increase in margin.
• Increase in price has very little part.
• Company has current guidance of same margins of around 14-15%.

Warren Buffet & Charlie Munger's wisdom on

- LTCM
- Circle of Competence (Q by @MohnishPabrai )
- Buy & Hold Strategy

Berskhire Hathaway AGM: 1999

@suru27 @ParikPatelCFA @ashishkila @ravidharamshi77 @_kirand @gauravgsgs @blitzkreigm @PuneetK009 @_anshulkhare

🧵👇

#investing

1). On LTCM:

Munger: What was interesting was how talented they were and then also got in so much trouble. It also demonstrates general system of finance involving derivatives is irresponsible.

Warren: Here you had extremely experienced people operating with their own money.

• They went broke. Why do people risk losing something very important to gain something that’s totally unimportant? The added money has no utility whatsoever.

If almost impossible to go broke without borrowed money being in the equation. No gain is good enough when there is no gain to offset the risk of loss.

2. Estimating Company’s IV

Warren: Investment is process of putting money today to get more money back in the future. The question is how far in the future, how much money and what is the appropriate discount rate to take it back to the present day and determine how much to pay?

Our pretensions to civilization have become very thin. Political violence was legitimized last year and is spreading wildly now. "Might makes right" is clearly the only "principle" behind freedom of speech. That's why Chinese Communists will never be censored by Big Tech.

When every "principle" becomes nothing but a ruthless exercise of power, it's not surprising that a growing number of people conclude they must demonstrate some sort of power in order to be taken seriously. Violence is the crudest exercise of power.

A well-run civilization makes it clear *universally* that violence is absolutely unacceptable. Giving free passes for irresponsible rhetoric and destruction to groups favored by the dominant political ideology of the State undermines that message.

We must also people peaceable means of expressing themselves and controlling their own lives, to relieve the pressures that can lead to violent outbursts and other forms of lawlessness. The less healthy discourse and freedom of action you have, the more pressure builds up.

It's dangerous when large numbers of people begin drawing the conclusion that might makes right, that laws and principles bend easily for those who have the political strength to bend them. Might makes right is the code of anarchy and barbarism, the antithesis of civilization.

I have just received information about a family that has locked up their child at home in isolation because she complained of some aches in her body. They suspected the child as having C19. She was tested and after a couple of days, the test came out negative. 1/n

The girl has already been in isolation for 4 days. Now they are waiting to do another PCR test today to check again because they fear that the first test was done too early and it didn't detect covid. So this little girl will remain in isolation for at least another 24 hrs. 2/n

This is idiocy. Insanity. Ignorance. Cruelty. Simply a crime against children.
The stupid fear and the stupid policies are driving parents to abuse their children. 3/n

Children are not the main source of C19 transmission.

"transmission of SARS-CoV-2 from children under 14 years of age was minimal in primary schools"

1/OK, I should really write another thread about university-centric regional development, because I think people often make some (very understandable) mistakes when thinking about this issue.

2/The biggest myth, I think, is that universities help regions by educating locals as undergraduates.

Skeptics of universities say: "But most of the people who graduate end up leaving."

3/In fact, most of what a university does for a regional economy is NOT about educating local kids.

Educating local kids is good for the nation, but doesn't help a region much.

The way a university helps a region is through

4/Undergraduates usually leave town after graduation.

But university RESEARCH pulls in OTHER smart people from other regions, and they stay there.

Here's a paper showing that this is the main way universities increase a region's human capital:

5/Research also pulls in business investment.

Companies want to partner with university labs, so they can commercialize the technologies the labs produce. So they invest in the labs, and sometimes they even put their offices in the town.

THREAD: We filed RTIs on behalf of @no2uid asking the Ministry of Health and Family Welfare questions about how your personal data will be protected while you're using CO-WIN, the COVID-19 vaccination registration platform.

We got answers... kind of. Here's the new info.

1/n

Just like with Aarogya Setu, many Indians are worried that about the potential CO-WIN has to leak your data or threaten your privacy in the name of dealing with a pandemic. So, we asked the MOHFW some questions about data protection under the Right to Information Act.
2/n

In the responses we received, MOHFW said that it cannot provide us with a privacy policy on CO-WIN (?!).

Thankfully it was clarified that Aadhaar is not mandatory for registration on Aarogya Setu or CO-WIN, and that physical vaccine certificates will be provided to everyone.
3/n

The data it says it will collect will be your name, gender, date of birth, photo ID, and number.

National, State, and District level admins will have access to use the app, but there is not much further clarity on this point.

But most importantly...
4/n

The responses (or rather lack of them) related to your data privacy and protection are completely vague. We received no clear answers on which Ministries/Depts will have access to your personal data, the permissions provided, etc. This is a failure in terms of transparency.
5/n

Every crisis becomes a religion if it lasts long enough.

One factor in that transformation is the Beautiful Theory phenomenon: the power elite insists its remedies are logical and politically correct so they MUST work, even if the actual evidence shows they obviously don't.