rohitc99

+1 The US is bad, but wait till you see other countries the last time i checked there are very few countries where people are lining up to get in The reason for my optimism is that any craziness in the US tends to get corrected over time due to its system. In a lot of other countries, somehow that doesnt happen

thanks for sharing all the technical details !

if you read the book : The Beginning of Infinity: Explanations That Transform the World, it just shows why all these malthusians have been wrong. Its a great book and in the begining chapter itself, david makes a great argument, there is no shortage of any resource as such. its all a matter of knowledge

have you looked at chatGpt or done comparison with perplexity ? any feedback ? thanks in advance

That is in the south and should be fine. The northern parts of the country start getting hot especially around noon

Where are you going ? It can get pretty hot in some parts of the country even by this time of year. So just prepare of the trip accordingly

Fairfax invested in thomas cook in dec 2021 and recently liquidated it and more at a profit. and it gets better with quess. they sold 5% stake at 900 levels in sept 2021 and bought it back at 385 in march 23. more or less sold at the absolute peak and bought the stake back at 1/3 price 18 months later even someone is writing a short report and calling out quess, they would atleast analyze the space in india. Teamlease is a comparable and sells at higher valuations and so do some other companies in this space quess is not fully valued and acutally got beaten down due to the losses in the products division. if they can turn that around, the stock will do well in the next 2-3 yrs

I have held thomas cook and Quess for a long time in india and followed both companies. At a minimum, the argument against Quess is weak to begin with. Quess invested in monster.com and has been incurring losses in this segment for more than a year. this has suppressed their operating margin which should improve by the end of the year as the new segment breaks even. Quess is growing its topline and its operating profit is up 15%+ for the year. The value of Quess is increasing, not reducing Fairfax invested in thomas cook in the depths of 2020 Covid crisis and the risks were far higher. The stock is up 3X since then and the company is firing on all cylinders in India The whole report appears like a multiple choice exam where the examiner deducts points for mistakes, decides to ignore all the questions the student got right. totals up the negative points and then fails the student. If you are going to call out what is carried in excess of market value, then the same needs to be done for all investments where the carrying value is less than market value

+1 same here. and after spending 10s of thousands i cannot even get my 80 year old mother to visit me. The immigration system had me recertify my birth certificates and a bunch of documents. WTF !! will an 80+ year work illegally when she can barely walk? and i have given signed under oath that i will bear all her medical and other costs and still they keep dragging on

+1 elon musk is a prime example. Not every immigrant is a genius, but a few more than make up for the downsides. sergie brin and more. Almost like an index fund approach to human capital. 95% are average and then we have 1% outliers

+1 great point. also from his biography, i recall that he was quite upset with the drawdown. Not for his own capital as he had the confidence that the fund would recover, but for his partners. it seems that once the fund recovered, he basically closed it

+1 @Gregmal 99% of the population is not like you btw, what made you go down this path so early in life ?

Why should british be in the mix ? because they came and colonized the place and now its their job to sort it out after taking advantage of the fault lines, using it to their benefit and now suddenly they are the neutral party to sort it out The problem of minorty/majority exists everywhere and each country finds their own solution

ofcourse there was conflict, but atleast in India, it was limited and never at the scale of what happened as the british withdrew. around 1-5 Million people died in the partition. That never occured in the entire history of the country over its recorded history, from one single event. ofcourse the blame is not entirely on the British, the leaders of the time were equally responsible

The White Man's Burden - Wikipedia you mean this ?

absolutely. i dont recall where, but it seems a lot of conflicts across the globe are linked to these 'partitions' they did before withdrawing from the area. Same thing in africa too if i recall correctly.

agree with you. Indians and in general the country, as no ill will against Britain or any western nation. I have never heard anyone complain. They have just moved on. No one talks of righting the past or anything of that sort. Ofcourse there is push back when they are preached to

Not really, far more complex than that. The British at one point saw threat from the INC - indian national congress and pursued the divide and conquer policy. They used religion for that. They knew the fault lines existed and exploited that. On top of that they drew the lines arbitrarily and accelerated the withdrawal - almost like, after 200+ yrs of rule, here is the country, good luck. That created a lot of chaos, civil war and millions died Its not like the rulers in the past were some holy saints, but the narrative that the British were there to 'save' India or did anything for the country is false.

100% agree with you. Like you, I am a naturalized US citizen of Indian descent too. Came here in early 2000 no doubt the socialist policies screwed up the country for 40+ years.

+1 agree. all forms of oppression is bad whether done by your own race, country or by some other country and although we cannot turn the clock back, there can never be any valid justification for it.

absolutely. two wrongs make a right. this is what i wanted to avoid bringing up. How do you justify colonization and murder (Jallianwala Bagh massacre - Wikipedia) ? highlight all the negatives of the society you conquered. The British came and civilized a bunch of Africans and Indians who were savages before that.

Yes, not the same but then i dont know if you can really put a ranking on human misery. The east (bengal) and other parts of india had indigo farmers who were close to bonded labor. It was done very cleverly. Control the local zamindar (like a local landlord) who in turn would have these bonded labor. Whatever was collected as revenue (extremely high rate) would flow upwards. I dont have the reference here, but the railways and other infra for which supposedly indians should be grateful for, was funded through debt/bonds on the local economy. Some of the arguments is that some practises such as the caste system was not introduced by the british and it was actually Indians doing to themselves. But they used it very cleverly to their advantage (sit on top of the social pyramid) and used it justify their actions I won't add any further as it can get contentious on a public forum.

Thats a loaded comment and for that you need to have a deep understanding of the history of India to arrive at a number. I would put the chance as 99/1 that indians would be better off. They 'were' better off before the British. India was colonized due to its own political short coming, but does not mean that it was good by any means. Leaving aside the human misery and enslavement, even the economically the country was plundered.

sure, but then he is putting it out there for people to decide. And DCF especially scenario analysis can help look at assumption built into the price. one may not use it to make investment decision, but its not a bad tool for thinking especially if you are new to all this and just starting off anyway to each his own

Why do his returns matter ? he is teaching and not managing money. we can learn whatever makes sense to us and discard the rest