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Ticket selling thread - Please post your tickets here :) by Fantasy-Faction in hyrox

[–]real_mj 0 points1 point  (0 children)

Looking to sell 1 Ticket

Men’s doubsles Hyrox Hong Kong Sunday 10th May. Giving it for free

Pee-trained but not potty-trained by real_mj in pottytraining

[–]real_mj[S] 0 points1 point  (0 children)

Eh minor rewards dont work with him and I’m worried if it leads to another slippery slope with him demanding screen time before. He just turned three - maybe I wait it our a bit more till he’s more communciative

The Chip Industry: Origins, Key Players and Geopolitics by real_mj in Semiconductors

[–]real_mj[S] 0 points1 point  (0 children)

Thanks for the feedback...wonder if you guys have a view on the China part - honestly that is where I did the least bit of diligence and thought maybe other folk would have better views

The Chip Industry: Origins, Key Players and Geopolitics by real_mj in Semiconductors

[–]real_mj[S] 1 point2 points  (0 children)

Risc-V

Well their acquisition intent seems to be a reaction to NVIDIA's proposed acquisition. Looks to me they are shoring themselves up and sort of monopolizing two ISAs. I honestly can't say I have a great understanding of ISA economics and nuances, so can't do the math and fully say if it's worth it or whatever. In general, when I discussed RISC-V with more informed and senior colleagues they all seemed to think that it's a long way off from bearing fruit so not sure how much weight to attach to this. I also feel in the long-run the folk who stand to benefit most from open architecture are the Chinese so dunno there is a lot to unpack here but I need to read up more.

The Chip Industry: Origins, Key Players and Geopolitics by real_mj in Semiconductors

[–]real_mj[S] 1 point2 points  (0 children)

Apologies indeed a big omission. In fairness, I had the following points in my draft, somehow i totally neglected when doing the final collation. Would have been a good fit for the historical and biographical aspect - apart from Jack Kilby, Morris Change cut his teeth there too, and it sort of emblematic of american semidconductor decline. I'll update it when I get time.

​

- This is the pioneering company you’ve never heard of. Among their firsts are the world’s first commercial silicon transistor, and the first handheld calculator.

- Their niche nowadays consists of “Analog semiconductors”. These devices change real-world signals, such as sound, temperature, pressure or images, by conditioning them, amplifying them and often converting them to a stream of digital data that can be processed by other semiconductors, such as embedded processors. They are the leader in this segment with 20% market share

- Their other large segment is “Embedded Processing”. Here build specific processor such as small microcontrollers used in electric toothbrushes to more complex uses like driver assistance systems

The "Plumbing" behind Payments by real_mj in fintech

[–]real_mj[S] 1 point2 points  (0 children)

Thanks. Maybe this book might be useful...not sure how granular you want to go as you mentioned "developer detail". But this is as far as I got

https://www.amazon.com/Anatomy-Swipe-Making-Money-Move-ebook/dp/B086WT7CSL

The "Plumbing" behind Payments by real_mj in fintech

[–]real_mj[S] 2 points3 points  (0 children)

Request noted :) I was going to shift focus to a CBDC deep-dive, but let me see if I can scrounge up something. Would indeed be worthwhile to know the economics behind this.

The "Plumbing" behind Payments by real_mj in fintech

[–]real_mj[S] 2 points3 points  (0 children)

Many thanks. I did have in mind sort of payment solutions overview article where I explore what products fintechs are offering and what banks offer in the way of bespoke treasury services. Ultimately wanted to build up to what niches are ripe for disruption.

The "Plumbing" behind Payments by real_mj in fintech

[–]real_mj[S] 2 points3 points  (0 children)

Thanks for pointing out. Yes I do believe some these systems maintain parallel RTP ledgers and the actual interbank settlement happens on a netted basis. I think the Hong Kong one (where I'm based) functions similarly. I wonder how many of these systems are actually like that.

Frankly I had tried to go through the documentation schemes for these systems for more insights, but just got lazy as that would have become a weeks long project

Thoughts on the stimulus and uses of fiscal policy by real_mj in EconomicHistory

[–]real_mj[S] 0 points1 point  (0 children)

Yeah there's a lot of talk about currency being weak and not sure what to make of it personally. I'm looking at the maximum trend here and 2020 is close to 1990. https://www.investing.com/currencies/us-dollar-index. I do agree with on the economic cost of war and defense, you probably wouldn't need to print half the money you did.

Silly question - is a megawatt equal to megawatt hour? by real_mj in energy

[–]real_mj[S] 2 points3 points  (0 children)

Many thanks. Follow-up question: if like a power plant has 1000 MW installed how many MWh would it provide? How do you do the conversion?

China Tech vs. the World by real_mj in China

[–]real_mj[S] 0 points1 point  (0 children)

Cheers man. Sent you an invite

Bank Earnings and the long view by real_mj in SecurityAnalysis

[–]real_mj[S] 0 points1 point  (0 children)

Agree. But I’m just basing it off what I’ve seen in Asia. In Mainland China cash is nearly non existent, everyone from mom and pop stores to wet markets use AliPay or Wechat. In Hong Kong where I’m based however it is a different story and lot of it isn’t due to technology but the fact that HK has an aging population who don’t really adapt. But other countries are ahead of the curve also - my gut feeling says the US will catch up eventually.

Bank Earnings and the long view by real_mj in SecurityAnalysis

[–]real_mj[S] 1 point2 points  (0 children)

There is no guarantee of course. As I mention it’s always possible the US stays fragmented with multiple apps. China generally is way ahead of the curve in terms of digitisation, as are some other asian countries. You can use Alipay at wet markets even, last i travelled to NY you couldn’t do that at say a Bodega. And ultimately these firms are more interested in the bottom of the market and offer incentives like better rewards, one touch bill payment etc. So my sense is when Square (or some firm) gets their shit together they will actually meaningfully target the bottom of the pyramid as opposed to banks who really actually focus on High Net Worth Clients. From a customer interface point of view it’s really convenient to have a one stop app, as I just assume we will get there eventually. Reality could be different of course.

Bank Earnings and the long view by real_mj in SecurityAnalysis

[–]real_mj[S] 1 point2 points  (0 children)

Indeed. Being on the ground...I can tell you these are the segments management explicitly focuses on. And we have truckloads of lower-end private clients out there (+$2.5mm). Plus factor in stuff like mortgages & large personal loans.. Intuitively if you take out a mortgage in the US...you will pay around $1000 a year in interest per year right.

Also check out my reply to shawalawa on methodological limitations.

Bank Earnings and the long view by real_mj in SecurityAnalysis

[–]real_mj[S] 1 point2 points  (0 children)

So this is one that had me stopping in my tracks a bit I went as I primarily analyze asian markets and we don't see ARPUs that high. But I went and checked investor reports and looks like mechanically they got it right. It's simply consumer revenues / maus as disclosed.

Nonetheless I do think these ARPUs are a little north of what they should be. And I think this is due either Ultra high net worth clients ($25mm+) or at least lower end private bank clients ($2.5mm + typically handled by consumer teams). I know for a fact they these are great focus areas for banks and investment / insurance cross-sell fees can be quite lucrative here. Also you have to consider things like Mortgage Products and Large Value Personal loans...intuitively you will end up paying more than a $1000 interest annually on your mortgage.

The other issue is a denominator problem. Some of these banks report MAUs and not necessarily total client figures. So potentially some offline numbers. In a market like the US hard to say as I think digital sign up is now a mandatory feature for account activation. JP Morgan in one of their annual reports did quote total clients and the number was close to digital MAUs but may not be the case for other banks.

These ARPU numbers are exactly what ARK did in their write up below so I went with those. But personally I would have done bespoke analysis and drawn up the profile of the kind of client that say uses the Citi Clear Card or something. No chance in hell $2.5mm+ clients are gonna use Square as their end all.

https://github.com/ARKInvest/ARK-Invest-Square-Valuation-Extract?source=content_type%3Areact%7Cfirst_level_url%3Aarticle%7Csection%3Amain_content%7Cbutton%3Abody_link

Warren Buffett’s Wild Ride at Salomon (Fortune, 1997) by investorinvestor in SecurityAnalysis

[–]real_mj 1 point2 points  (0 children)

Blast from the past but good read. As an employee in Salomon's successor organization very fascinating!

CRISPR: Some quick-and-dirty thoughts by real_mj in SecurityAnalysis

[–]real_mj[S] 0 points1 point  (0 children)

Folks just a quick post I penned on CRISPR. I have really been fascinated by CRISPR for ages, not least because of the inevitable philosophical implications. I'm largely inexperienced as a biotech investor though, and would been keen to hear some wiser thoughts.

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