Chartered Market Technician, Systematic Momentum Investing. Models @valtrustcapital Community Forum : portfolioyogaelite.slack.com {DM for a Invite}
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Alert: Seems one is using the name of @PortfolioYoga to ask for money for Intraday advise.
Call received from Number bearing +91 81110 - 01861
Do note that @PortfolioYoga has stopped accepting any new clients long back and is not providing ANY SERVICE or asks for money.
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Wow, in August @flyspicejet on-time performance was 17.9%. At this rate, they better pay the flyer for them taking a chance with them :) HT @FilterCoffeeHQ
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Searching for Feynman at All-In Summit 2026 - Bill Gurley
singjupost.com/transcript-of…
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A LocalCircles survey of more than 32,000 merchants and businesses found that only 17% were willing to absorb a 0.4% MDR
marketbites.substack.com/p/u…
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“By definition, a political party exists to seize power. […] Yet Japan’s opposition lacks even the appetite to lead, remaining perpetually inept across its entire history.” - Mitsuru Kurayama
cc @INCIndia
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Prashanth retweeted
0% real returns while investors also paid ~1% annualized in taxes.
Our industry became so focused on asset allocation that we forgot why asset allocation exists in the first place... to improve outcomes.
These funds delivering ~0% real returns over 20 years and then being congratulated on that effort is a good reminder that allocating to an asset class (regardless of the opportunity set) isn’t the diversification we should be targeting.
The #1 Best fund on this list has zero real returns for....
...squints....
...20 years.
HT StandPoint
morningstar.com/funds/best-s…
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There’s really nowhere to hide when big drawdowns happen. A lot of value investors think their stock picking somehow makes them immune to what’s happening in the broader market, but that’s not right either.
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Basically any portfolio of stocks, regardless of how adept you are at security analysis, is going to go down in a mega bear market.
nonmaterial.substack.com/p/c…
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The number of people dying in Ukraine is roughly four times the number of births. The nation is perishing, and yet the war grinds on.
archive.is/okmbp#selection-2…
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Prashanth retweeted
Large fund house uses negotiating power to gain access to a hot IPO expected to pop on listing. Instead of allocating that to its larger flagship funds where the pop would not materially impact the NAV, it allocates it to a new, smaller fund where it is a large holding (~10%).
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Amazing self-goal by @FinMinIndia.
I think MDR on UPI was probably inevitable at some point, especially given how widespread UPI adoption has become. It could also lead to more competition, instead of just three apps accounting for more than 95% of the market.
That being said, there are some use cases, like investing and broking, where the proposed MDR structure doesn’t really make sense.
The problem with broking is that there is no guarantee that money transferred to a broker will actually result in a transaction.
As brokers, we can’t force a customer to trade after transferring money. And if we can’t pass the UPI charge on to the customer, there is essentially no limit to the cost a customer can impose on a broker without generating any revenue.
Just as an example, 10,000 customers could each make 50 UPI transfers of ₹2 lakh in a month without executing a single trade. At the proposed MDR, this could potentially cost the broker around ₹2 crore, without generating any business.
What makes this even more challenging is quarterly settlement (QS). This is a SEBI regulation that requires brokers to send unused funds back to clients every month or quarter.
Most customers then transfer these funds back to their broking accounts, with more than half of these transfers happening through UPI. So regulation essentially forces this movement of money every month or quarter, and the broker could end up bearing the cost when the money comes back, without any incremental benefit or revenue.
By the way, we currently don’t charge brokerage on equity delivery trades because the economics allow us to offer them for free. But if every UPI transfer starts carrying an additional cost, irrespective of whether the customer actually trades, I don’t see how we can absorb this indefinitely.
I think having an MDR is okay. It still doesn’t solve the problem of customers transferring money without transacting, but something like 0.02% with a cap of ₹5 or ₹10 per transaction seems much more reasonable for broking, instead of a cap as high as ₹300.
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Now that UPI payments are charged, will the customer get Zero liability protection / Chargeback frameworks?
Or are we paying just because it's easy to collect a new fee (like STT?)
Regarding Merchant Discount Rate (MDR) on Select UPI (P2M) Transactions
Please refer to the FAQs here: npci.org.in/uploads/FA_Qs_Me…
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The constant need to put down India before China is amusing. The year when Star entered India was also the year when we finally started to open up. Star coming was one of the best things to happen, exploded the number of opportunities in Television / Media like never before.
Only Chinese have the steel in them to humble vanguard heroes of White Supremacism.
Before Trump, there was Murdoch who was humiliated for 4 years to meet Jiang Zemin but still wasn't allowed to enter CHN market
Indian babus allowed Star TV to walk in for a few bottles of Chivas
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Our safety obsession is why we are lousy at risk-taking. We are bad at picking the right risks and managing the ones we do take, if we take them at all.
allisonschrager.substack.com…
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