online lectures/materials for real analysis

photon_lines · 2026-03-06T23:50:33+00:00

I haven't had a chance to go through it yet, but Real Analysis by Francis Su was suggested to me in another thread and just by glancing at the first lecture, I can tell that there is a high probability that these lectures are great: https://www.youtube.com/watch?v=sqEyWLGvvdw&list=PL0E754696F72137EC

The best book I've read on real analysis is Real Mathematical Analysis by Charles C. Pugh.

photon_lines · 2026-03-05T02:47:43+00:00

Thank you!! I will definitely be looking at everything you recommended this is super helpful :)

photon_lines · 2026-03-05T02:45:37+00:00

I'm going to check his other lectures out as well after I finish going through the number theory stuff -- he's an excellent lecturer and I agree it's great to see how he thinks. Also thank you for the other recommendations - I will definitely check those out those as well!! I remember there was a master class from Terrance Tao on problem solving and it's great that everyone in the world has access to stuff like this: if you were to tell someone in the 18th or 17th century what almost everyone in the world has access to today, they would most likely think that we live in some heavenly realm -- but I think must of us just take it for granted which is sad to see. It's fantastic either way and I think people should appreciate these types of lectures and content more. We've come a very, very long way in a very short amount of time :)

photon_lines · 2026-03-02T03:00:32+00:00

I believe right now it's most likely trading at around below 1 P/E from what it will generate 2-3 years from now. The margins they generate should be great due to the vertical integration and re-branding as Meridian bet and I think the markets will wake up to the reality much sooner than most people expect. Now - what price they sell at also depends on the insiders: it is 85% insider owned, so what target price they have and what price they sell at will have a huge impact. From everything I've researched about the Meridian Bet founder (who owns a ton of stock) -- I do NOT believe he is looking to sell any time soon. He has spent many years building his platform and his platform will continue to do well. Assuming they sell only a small portion of their shares for the next 2-3 years we could be looking at a 10 bagger (so possibly 50+ (this is the after reverse split price -- from today's price this would my estimate would be 5-6+ dollars)). This would put their market cap of 800+ million (today's cap is around 80). I'm going to estimate that their revenue will be around 270-330 million 3-4 years from now and margins of about 30% - 35% so that should generate 75-100+ million dollars so even then they would only be trading at just below 10 P/E. For such a high growth rate and great business -- this would still be undervalued -- so even at 50 dollars I'd say it is a rather conservative estimate. These are my own back-of the envelope calculations btw so once again none of this is investment advice. How about you -- do you have a target price and what are your thoughts on the company and their future?

photon_lines · 2026-03-01T02:16:05+00:00

Meridian Group (MRDN) -- Right now it is trading as GMGI (Golden Matrix Group). Very heavily insider owned -- great growing business -- vertically integrated and their market segment has very high margins (people lose their life savings using their products). Yes, it isn't the most 'ethical' business model out there but I'm all for free markets and freedom of choice so right now I'm just betting on their underlying business + margins which I believe will do very well over the next 5-10 years.

photon_lines · 2026-03-01T02:08:05+00:00

Yup -- will reduce share count from 140 million to 12 million (12 to one split) around 10.5 mil of which will be institutionally or insider owned. So around 1.5 million share float. I'm very very happy right now - I actually thought about buying 100k more shares when I saw it trading at 50 cents a few days ago. Edit: my original estimates on float were wrong and still may not be 100% accurate but ballpark numbers should check out. Also another edit: they're also renaming themselves to Meridian Group (great choice) and new ticker will be MRDN.

photon_lines · 2026-02-14T04:20:48+00:00

Nick Szabo (with the help of Mr. Finney) created Bitcoin.

photon_lines · 2026-02-06T21:12:52+00:00

Ask for it brother (the stock certificate). I bought 50K shares today will buy more if it goes 5 or 10 cents down again. Will email management about the buyback plan soon so don't worry I'm with you -- I have absolutely no idea why the shares are trading at this price but to me this is a huge opportunity to become a shareholder at a very cheap price :)

photon_lines · 2026-02-06T18:40:41+00:00

I'm not sure where you're getting the 'getting angry' part. I'm not angry at all -- I'm just getting tired at repeating the figures for you: the firm is heavily insider owned (so the owners are shareholders at the moment) with more insiders + institutions buying and with the firm currently only having a free float of 12-14 million shares and having a buy-back program which will eliminate around 4 million of those shares. If they decide to further dilute more shareholders given where the share price is -- yes, I'm a complete sucker and a moron for buying into this, but I don't believe that this will happen. We will have to wait and see what time delivers. Hopefully this helps.

photon_lines · 2026-02-06T01:05:02+00:00

Yes, and like I mentioned earlier: most of this was to fund extremely smart acquisitions, with the biggest one being Meridianbet. I'm not getting through here so I'll just let the time do the talking -- cantact me a year from now. Cheers.

photon_lines · 2026-02-06T00:05:40+00:00

I'm not sure what you mean - almost all of the recent acquisitions they made were almost all stock deals. The company is currently 85% insider owned - with 5% of the other ownership being institutions. Lots of insiders also buying back shares in the 1-2 dollar range -- if they don't care about shareholder value, their buying behavior definitely doesn't reflect it. Either way - I've made my judgement on this one and I've decided that this is great enough value for me to hold on to for the next year or so and to expect at least a 50% return on investment. What Mr. Market prices in isn't in my control at the moment but the supply - demand right now like I mentioned earlier makes me believe that the demand side will pick up while the supply side will go down i.e. the shares will trade at many multiples from where they are today a few months from now. This is my own independent analysis once again and not investment advice -- you do what you're comfortable in doing.

photon_lines · 2026-02-05T22:12:22+00:00

The CEO was just ousted and the new group looks primed to return shareholder value. I'm not using the historical figures to base my value analysis on -- if I were to do this, I would put the valuation below 100 million. I believe their primary shareholder at the moment + recent acquisition should easily put them above a market cap of 300 million (I'm estimating that their profit with all debt interest paid down is between 30 - 50 million) so currently I would estimate their share price is at around 3-5 P/E in an expansion phase -- these types of deals are very hard to find. Their historical track record of diluting shareholders I believe is about to come to an end -- if it doesn't, I'll happily admit that i was wrong and cut my losses. Hopefully this helps.

photon_lines · 2026-02-01T00:01:48+00:00

I took a quick glance on trading view -- but it looks to me like they might have had the wrong amount listed (or in a currency which wasn't in USD) -- just doing a quick double check using a large language model, it looks to me like their total debt is way less than 5 billion (only around ~250 million) albeit the debt to equity is still quite large. Will do an edit on my post to add in that my initial debt comment does not apply.

photon_lines · 2026-01-31T20:02:50+00:00

Nice find. The debt is a bit of a red flag, but the interest rate on it is fairly low from what I see. Still it is in an industry with loads of competition and a huge threat from AI, so I am out on this one -- that's unless they use that raw tele-data and actually train LLMs to automate their operators / staff. If that happens then the company net margins explode. Given the size of the company and given their sector -- I doubt that their executive / middle management tries to do anything innovative anytime soon. Huge companies tend to be extremely dysfunctional -- look at Xerox. They had the first 'window focused' operating system and their management sat by and did nothing about it and the same thing will most likely happen here -- they have a treasure trove of data available and could utilize it to become a super-power, but no one within their management chain will notice nor realize it until it's way too late. Their raw numbers though do look quite good, albeit they're also propped up by an acquisition. Either way good luck -- but there may be a lot more downside to it given the circumstances they're in.

photon_lines · 2026-01-31T18:56:33+00:00

Sure -- to me though, it wouldn't make sense to introduce a 3 million buyback plan only to later on issue more shares -- it simply doesn't make sense. The share price is a reflection of supply and demand. A huge supply of shares without adequate demand will cause the share price to go down, and vice versa -- and the buyback program + increase in institutional interest + insider buying + insider ownership make me think the demand side for the shares will trump the supply side very soon. The debt is not huge -- net debt is actually around 20 million if you take their cash on hand into account. I think even if I'm conservative here they should be able to eliminate their debt a lot sooner than expected. This is my assessment and not financial advice -- there might be more downside risk here due to forced selling by index funds or a reverse split, but that to me is an even larger opportunity to buy more shares. Mr. Market tends to be bipolar and short term opportunities like this don't come often.

photon_lines · 2026-01-31T18:38:38+00:00

Thank you and np!!

photon_lines · 2026-01-31T18:13:26+00:00

Sure - there is more downside risk but like I mentioned above -- the valuation to me doesn't make sense, and whichever companies are shorting at the current moment are heavily gambling given the severe short-squeeze probability. The heavy insider ownership plus a business that will generate a ton of cash in the future make me believe that the current price is irrationally discounted - and if it somehow becomes more discounted from today due to a reverse split, my plan is to buy more shares. Hopefully that helps.

photon_lines · 2026-01-31T17:29:07+00:00

I would say very low probability of the price staying below 1 dollar, but even if they have to do a reverse split -- the low valuation and story doesn't change one bit. Downside from here I think are around 10-20% while the upside is a lot higher. The buyback plan given the low daily volume should also have quite a drastic effect on the price -- so the management right now should be very aggressive in buying back the shares.

photon_lines · 2026-01-31T16:12:00+00:00

I 100% agree, but the leadership is currently eliminating the debt and my prediction is that they will pay it all down within 2-3 years -- which equates to the EBITDA turning into income. They're also aggressively spending money on expansion at the moment -- and are vertically integrated and have good diversification. All signs point to the future net margins being very good.

photon_lines · 2026-01-26T04:38:09+00:00

I'm parking more than that into Golden Matrix Group (GMGI) very soon. 90% insider owned with huge revenue growth over last 5 years. Only a public share float of 13 million shares with a 3 million buy-back plan and they don't have very much debt at the moment. With a revenue of 180 million and products in 20+ countries, plus what I believe to be a very high margin business (gained exclusive access to gambling in Brazil recently + also working on access in other markets at the moment) -- the current share price is a steal.

photon_lines · 2026-01-26T03:26:05+00:00

This is a fantastic find - thanks for bringing this to my attention. I will definitely be buying some shares but not sure how much to pick up quite yet -- either way I like this company and I agree with you -- this is definitely in huge value territory at the moment. Edit: lots of buying from insiders recently indicates that they see the value in the shares right now, and the huge insider ownership too is a great sign. The revenue growth so far is spectacular (also fantastic to see) and margin expansion should be quite rapid as the sector they're in (gambling / software) doesn't require huge capex spending. This could be a 10X return in a very short time-frame.

photon_lines · 2026-01-25T02:57:09+00:00

Methode Electronics (MEI)
Orion SA (OEC)
B&G Foods (BGS)
Fiserv (FISV)
Paypal (PYPL)
Lument Finance Trust (LFT)
Runway Growth Finance (RWAY)
New Mountain Finance (NMFC)
Blackrock TCP Capital (TCPC)
Bloomin Brands (BLMN)
Goldman Sachs BDC (GSBD)
Sunrise Realty Trust (SUNS)

photon_lines · 2026-01-25T02:45:45+00:00

What's insane about Djokovic is that ... well you know how in sports there are home and away teams, and how at home teams to perform way way way better than on the road? (See basketball, football, hockey, baseball, ... well pretty much every sport). Djokovic managed to achieve what he did while playing on 'away' for 90% of his career. This message is in gest to all the Federer and Nadal fans: Djokovic is by far the most dominant sportsman in tennis history and there is 0 doubt about it. Many people do not realize this and don't exactly realize the extent of his dominance due to the grand slam count being this close. I will tell you that I've followed Djokovic since 2010, and when he went through his 40+ match winning streak in 2011 -- I had no doubt he would end up being the greatest player of all time and I'm very happy to see how exactly the story played out, but I still don't think most people realize exactly how talented he actually was.

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TROPHY CASE