News Heading into Thursday July 23rd 2020 NOTE: PLEASE DO NOT YOLO THE VARIOUS TICKERS WITHOUT DOING RESEARCH. THE TIME STAMPS ON THE FOLLOWING ARTICLES MAY BE LATER THAN OTHERS ON THE WEB. THE CREATOR OF THIS THREAD COMPILED THE FOLLOWING IN A QUICK MANNER AND DOES NOT ATTEST TO THE VERACITY OF THE INFORMATION BELOW. YOU ARE RESPONSIBLE FOR VETTING YOUR OWN SOURCES AND DOING YOUR OWN DD.
Senate Republicans, White House near agreement on coronavirus relief package
CNTG ($12.15) CENTOGENE Announces Convenient At-Home Coronavirus Test Solution Now Available in Germany on Online Marketplace
BIOL ($0.45) BIOLASE Announces Closing Of Oversubscribed Rights Offering
INUV ($0.57) Inuvo Announces Proposed Public Offering of Common Stock
DRIO ($7.25) reported 8 new insider (buys) trades to the SEC
ALGN%20today%20announced,for%20Invisalign%20and%20iTero%20doctors.&amp;amp;amp;amp;amp;amp;amp;text=The%20goal%20of%20ADAPT%20is,Invisalign%20doctors%20and%20their%20staff) Align Technology Launches the Align Digital and Practice Transformation (ADAPT) Program for Invisalign and iTero Doctors Globally
Montage Resources Divesting Wellhead Gathering Infrastructure for $25 Million, Announces Preliminary Second Quarter 2020 Production Performance, Lowers Full Year 2020 Capital Spending Guidance. Montage Resources trims full-year capex forecast (MR)
World's Largest Drug Cartel: THe British Empire; Details on 2 opium wars fought in China, FORCING DRUGS into China, creating tens of millions of addicts. Forcing China to CEDE 6 cities after losing the opium war. By Jeffrey St. Clair and Alexander Cockburn
This is one of the better articles I have found on the Opium Wars: -Hong Kong remained under British control until 1997 because of the opium wars and the Opium trade. -2,000 tonnes of Opium per year imported into China by 1840, 6,500 tonnes imported by 1880 +20,000 tonnes of domestic production -Hundreds of thousands killed by British soldiers to protect the opium trade -Starvation in India caused by opium production taking all of the farm land. (Excerpt) For the full article click the link https://www.counterpunch.org/2017/12/01/the-us-opium-wars-china-burma-and-the-cia/ (....) The opium poppy was not native to Southeast Asia but was introduced by Arab traders in the seventh century AD. The habit of opium smoking didn’t take hold till the seventeenth century, when it was spread by the Spanish and Dutch, who used opium as a treatment for malaria. The Portuguese became the first to profit from the importing of opium into China from the poppy fields in its colonies in India. After the Battle of Plassey in 1757, the British East India Company took over the opium monopoly and soon found it to be an irresistible source of profit. By 1772 the new British governor, Warren Hastings, was auctioning off opium-trading concessions and encouraging opium exports to China. Such exports were already generating £500,000 a year despite the strenuous objections of the Chinese imperial government. As early as 1729 the Chinese emperor Yung Cheng had issued an edict outlawing opium smoking. The sanctions for repeat offenders were stern: many had their lips slit. In 1789 the Chinese outlawed both the import and domestic cultivation of opium, and invoked the death penalty for violators. It did little good. Inside China these prohibitions merely drove the opium trade underground, making it a target of opportunity for Chinese secret societies such as the powerful Green Circles Gang, from whose ranks Chiang Kai-shek was later to emerge. These bans did not deter the British, who continued shipping opium by the ton into the ports of Canton and Shanghai, using what was to become a well-worn rationale: “It is evident that the Chinese could not exist without the use of opium, and if we do not supply their necessary wants, foreigners will.” Between 1800 and 1840 British opium exports to China increased from 350 tons to more than 2,000 tons a year. In 1839 the Chinese Emperor Tao Kwang sent his trade commissioner Lin Tze-su to Canton to close the port to British opium ships. Lin took his assignment seriously, destroying tons of British opium on the docks in Canton, thus igniting the Opium Wars of 1839–42 and 1856. In these bloody 📷campaigns the British forced China open to the opium trade, meanwhile slaughtering hundreds of thousands of Chinese, a slaughter assisted by the fact by 1840 there were 15 million opium addicts in China, 27 percent of the adult male population, including much of the Chinese military. After the first Opium War, as part of the treaty of Nanking China had to pay the British government £6 million in compensation for the opium destroyed by Lin in Canton. In all essential respects Shanghai thereafter became a western colony. In 1858 China officially legalized sales and consumption of opium. The British hiked their Indian opium exports to China, which by 1880 reached 6,500 tons, an immensely profitable business that established the fortunes of such famous Hong Kong trading houses as Jardine, Matheson. Meanwhile, the Chinese gangs embarked on a program of import substitution, growing their poppy crops particularly in Szechwan and Hunan provinces. Labor was plentiful and the poppies were easy to grow and cheap to transport – and the flowers were also three times more valuable as a cash crop than rice or wheat. The British did not take kindly to this homegrown challenge to their Indian shipments, and after the crushing of the Boxer Rebellion in 1900 they forced the Chinese government to start a program to eradicate the domestic crop, a program that by 1906 had finished off opium cultivation in the whole of Hunan province. It was at this point that the Chinese gangs shifted their opium cultivation southward into the Shan States of Burma and into Indochina, making the necessary arrangements with the French colonial administration, which held the monopoly on opium growing there. Hill tribes in Indochina and Burma were conscripted to the task of cultivation, with the gangs handling trafficking and distribution. The suppression campaign run by the Chinese government had the effect of increasing the demand for processed opium products such as morphine and heroin. Morphine had recently been introduced to the Chinese mainland by Christian missionaries, who used the drug to win converts and gratefully referred to their morphine as Jesus opium. There was also a distinct economic advantage to be realized from the sale of heroin and morphine, which were cheap to produce and thus had much higher profit margins than opium. Despite mounting international outrage, the British government continued to dump opium into China well into the first two decades of the twentieth century. Defenders of the traffic argued that opium smoking was “less deleterious” to the health of Chinese addicts than morphine, which was being pressed on China, the officials noted pointedly, by German and Japanese drug firms. The British opium magnates also recruited scientific studies to back up their claims. One paper, written by Dr. H. Moissan and Dr. F. Browne, purported to show that opium smoking produced “only a trifling amount of morphia” and was no more injurious than the inhalation of tobacco smoke. After the opium wars reached their bloody conclusion and China was pried fully open to European trade, the coastal city of Shanghai rapidly became the import/export capital of China and its most westernized city. A municipal opium monopoly had been established in 1842, allowing the city’s dozens of opium-smoking dens to be leased out to British merchants. This situation prevailed until 1918, when the British finally bowed to pressure from the government of Sun Yat-sen and relinquished their leases. This concession did little to quell the Shanghai drug market, which duly fell into the hands of Chinese secret societies such as the notorious Green Circles Gang, which, under the leadership of Tu Yueh-shing, came to dominate the narcotics trade in Shanghai for the next thirty years, earning the gang lord the title of King of Opium. Tu acquired a taste for the appurtenances of American gangsters, eventually purchasing Al Capone’s limousine, which he proudly drove around the streets of Nanking and Hong Kong. Tu was extraordinarily skilled both as a muscle man and an entrepreneur. When the authorities made one of their periodic crackdowns on opium smoking in Shanghai, Tu responded by mass-marketing “anti-opium pills,” red tablets laced with heroin. When the government took action to restrict the import of heroin, Tu seized the opportunity to build his own heroin factories. By 1934, heroin use in Shanghai had outpaced opium smoking as the most popular form of narcotics use. Tu’s labs were so efficient and so productive that he began exporting his Green Circles Gang heroin to Chinese users in San Francisco and Seattle. Tu’s climb to the top of the Chinese underworld was closely linked to the rise to political power of the Chinese nationalist warlord General Chiang Kai-shek. Indeed, both men were initiates into the so-called “21st Generation” of the Green Circles Gang. These ties proved useful in 1926, when Chiang’s northern expeditionary forces were attempting to sweep across central and northern China. As Chiang’s troops approached Shanghai, the city’s labor unions and Communist organizers rose up in a series of strikes and demonstrations designed to make it easier for Chiang to take control of the city. But Chiang stopped his march outside Shanghai, where he conferred with envoys from the city’s business leaders and from Tu’s gang. This coalition asked the Generalissimo to keep his forces stationed outside Shanghai until the city’s criminal gangs, acting in concert with the police force maintained by foreign businesses, could crush the left. When Chiang finally entered Shanghai, he stepped over the bodies of Communist workers. He soon solemnized his alliance with Tu by making him a general in the KMT. As the Chinese historian Y. C. Wang concludes, Tu’s promotion to general was testimony to the gangsterism endemic to Chiang Kai-shek and his KMT: “Perhaps for the first time in Chinese history, the underworld gained formal recognition in national politics.” The Green Circles Gang became the KMT’s internal security force, known officially as the Statistical and Investigation Office. This unit was headed by one of Tu’s sidekicks, Tai Li. Under the guidance of Tu and Tai Li, opium sales soon became a major source of revenue for the KMT. In that same year of 1926 Chiang Kai-shek legalized the opium trade for a period of twelve months; taxes on the trade netted the KMT enormous sums of money. After the year was over Chiang pretended to acknowledge the protests against legalization and set up the Opium Suppression Bureau, which duly went about the business of shutting down all competitors to the KMT in the drug trade. In 1933 the Japanese invaded China’s northern provinces and soon forged an accord with the KMT, buying large amounts of opium from Generals Tu and Tai Li, refining it into heroin and dispensing it to the Chinese through 2,000 pharmacies across northern China, exercising imperial supervision by the addiction of the Chinese population. General Tu’s opium partnership with the occupying Japanese enjoyed the official sanction of Chiang Kai-shek, according to a contemporary report by US Army Intelligence, which also noted that it had the backing of five major Chinese banks “to the tune of $150 million Chinese dollars.” The leadership of the KMT justified this relationship as an excellent opportunity for espionage, since Tu’s men were able to move freely through the northern provinces on their opium runs. In 1937 the Generalissimo’s wife, Madam Chiang, went to Washington, where she recruited a US Army Air Corps general named Claire Chennault to assume control of the KMT’s makeshift air force, then overseen by a group of Italian pilots on loan from Mussolini. Chennault was a Louisiana Cajun with unconventional ideas about air combat that had been soundly rejected by the top army brass, but his fanatic anti-Communism had won him friends among the far right in Congress and in US intelligence circles. (....) article continues More articles by:JEFFREY ST. CLAIR - ALEXANDER COCKBURN Jeffrey St. Clair is editor of CounterPunch For more info: China lost Hong kong and 5 other cities for 150 years, until 1997 because of the Opium wars. The forced importation into china of tens of millions of pounds of opium a month: This created tens of millions of addicts and caused the partial collapse of the government. It went on for hundreds of years. The chinese emperor wanted to know why they were selling opium in China, but not in England where it was illegal! OPIUM WARS - The Original NARCO-COLONIALISM - The Original State Sponsored Drug Traffic…Starting in in the mid-1700s, the British began trading opium grown in India in exchange for silver from Chinese merchants. Opium — an addictive drug that today is refined into heroin — was illegal in England, but was used in Chinese traditional medicine. 1 https://en.wikipedia.org/wiki/Opium_Wars https://en.wikipedia.org/wiki/First_Opium_War https://en.wikipedia.org/wiki/Second_Opium_War 2 This war with China . . . really seems to me so wicked as to be a national sin of the greatest possible magnitude, and it distresses me very deeply. Cannot any thing be done by petition or otherwise to awaken men's minds to the dreadful guilt we are incurring? I really do not remember, in any history, of a war undertaken with such combined injustice and baseness. Ordinary wars of conquest are to me far less wicked, than to go to war in order to maintain smuggling, and that smuggling consisting in the introduction of a demoralizing drug, which the government of China wishes to keep out, and which we, for the lucre of gain, want to introduce by force; and in this quarrel are going to burn and slay in the pride of our supposed superiority. — Thomas Arnold to W. W. Hull, March 18, 1840 http://www.victorianweb.org/history/empire/opiumwars/opiumwars1.html 3 https://web.archive.org/web/20180311121505/https://sacu.org/opium2.html See also Opium in China In 1997 the colony of Hong Kong was returned to China. Hong Kong Island became a British possession as a direct result of the Opium War, the opening shots of which were fired 150 years ago. All Chinese, regardless of political ideology, have condemned this armed confrontation as an unjust and immoral contest. As far as they are concerned, Britian's waging a war for the sake of selling a poisonous drug constitutes the most shameful leaf of human history. In the hindsight provided by subsequent events in China, it is, perhaps, easy to condemn this act of British aggression, but it is less certain that the event was seen in the same condemnatory light by Chinese and foreign observers a century and a half ago. 4 Article on opium trade in 1920s Shanghai http://streetsofshanghai.pbworks.com/w/page/18638691/Opium Opium (yapian 鸦片) Shanghai was built on the opium trade. Before the 1850s, Shanghai was the terminal port for coastal opium traffic. Shanghai was opened to foreign trade on November 11th 1843 and very soon afterwards, Jardine’s (the biggest British company in China at the time) set up a branch there and hired Chinese compradors, one of whom was solely concerned with the supervision of opium. By 1845, the opium moving through Shanghai constituted almost half of all the opium imported into China. In 1880, nearly 13,000,000 pounds of opium came into China, mainly from India. By 1900, imports declined, because China was now producing an average of 45,000,000 pounds of opium per annum itself. There were at least 15,000,000 Chinese opium addicts – in Chengdu, there was one opium den for every 67 inhabitants of the city. In Shanghai, some foreign missionaries began to complain that their homes were almost entirely surrounded by opium dens behind bamboo fences. The city had more than eighty shops where the drug was sold openly in its crude form, and there were over 1,500 opium houses.The owners of these establishments bought their supplies from three major opium firms in the International Settlement – the Zhengxia, Guoyu and Liwei. All three were owned by Swatow (Chaozhou) merchants who formed a consortium. This consortium obtained its opium from four foreign merchant houses: David Sassoon & Co., E.D. Sassoon, S.J. David, and Edward Ezra. 5' Opium financed British rule in India' http://news.bbc.co.uk/2/hi/south_asia/7460682.stm What did you discover in the course of your research? How big was the trade? Opium steadily accounted for about 17-20% of Indian revenues. If you think in those terms, [the fact that] one single commodity accounted for such an enormous part of your economy is unbelievable, extraordinary. How and when did opium exports out of India to China begin? The idea of exporting opium to China started with Warren Hastings (the first governor general of British India) in 1780. The situation was eerily similar to [what is happening] today. There was a huge balance of payments problem in relation to China. China was exporting enormous amounts, but wasn't interested in importing any European goods. That was when Hastings came up with idea that the only way of balancing trade was to export opium to China.
Occasionally people ask how these loans work. With that in mind: from the Canadian prairie on a beautiful day in July, to you: First, if you're from the U.S.: I'm doing this from a Canadian perspective which means I'm ignoring the Regulation T, special memorandum account, overnight maintenance requirement, and initial margin, because all of those are concepts that have no equivalent or application in Canada. But the basics are the same. You can ignore all of those concepts because they have no bearing on how margin actually works. Those concepts are simply restrictions in how you can use margin and as a practical matter they're not onorous restrictions. I'm also ignoring U.S. risk-based "portfolio margin" because that's a specialized, alternative margin system some brokers offer in the U.S., that we don't have in Canada. We have traditional, rules-based margin that hasn't changed in Canada in 100+ years. Note: If you are a Canadian resident buying U.S. stock in Canada you still fall under the Canadian rules for margin. Margin in Canada hasn't really changed since the 1900's, except you have to put up at least 30% nowadays instead of 10% as it was back before the crash of 1929. Basically that's the only thing that's changed. In Canada you can borrow up to 70% of a position at once for most stocks. This means that if you want to buy $10,000 worth of RBC or Apple, you only have to put up $3,000 and your broker lends you the rest. Margin was first developed in the Netherlands which basically invented the modern financial system we have today in the West, back in the 1600s. The Dutch East India corporation (ticker VOC) was at one point 20% of the world's total commerce. That would be like a company in 2020 grossing about 16 trillion US a year. By comparison Apple brings in about one half of one percent of that. The Amsterdam stock market developed just to trade VOC and other shares and related securities. Seein the success of their Continental rivals, the British copied the Dutch and for a long time, until after the Battle of Waterloo, the western world had two rival financial capitals, London, and Amsterdam. For various historical reasons, Amsterdam got pushed out of the picture and for about 100 years the City of London (which is what the financial district in London is called) was the financial capital of the west. They of course now share that crown with New York City. But it's really the Dutch who started it all, around the time of Vermeer. *** The concept is that the bank (or broker) will lend against some of your stock, but not all of it. They want a "haircut." The haircut is the amount they won't lend against. In Canada the haircut is usually 30% but can be 50% and there are some stocks the banks won't lend against at all, like most of the stuff on the TSX-V or on the U.S. pink sheets. Every bank is different, so BMO InvestorLine might want 50% on one company and Interactive Brokers Canada might want 30% or vice versa for another. But most things are 30%, some are 50% and some are 100% (meaning no loan). The maximum available leverage is 1/haircut. If the haircut is 30% as is typical in Canada, the bank will let you buy up to 1/0.3 = 3 1/3 as much as your cash, meaning, you can borrow up to 2 1/3 dollars for every dollar you put up. That's the limit. But: So say you have $3,000 and you want to buy on margin. As the bank haircut (margin rate) is 30%, you can buy $3,000/0.3 = $10,000 worth of stock. Obviously you then have a loan of $7,000. You now have $10,000 worth of stock, but remember, the bank won't let you borrow against 30%*$10,000 = $3,000. So your collateral is only $7,000. So you now have a $7,000 loan collateralized by $7,000 worth of stock. In the above example, you put up 30% margin, the same as the haircut. It's easy to see that if your total position slides so much as a dollar, you will have less collateral than $7,000 and therefore get what's called a "margin call" where they will tell you that you have to put up more money in a few hours or sell stock (which automatically pays down the loan to the extent of the sale) so that you have enough collateral to cover your loan, otherwise they will automatically sell a stock of their choosing at an amount of their choosing. They are also allowed to sell whichever stock they choose automatically without calling you first, in the event of a margin call. That is explicitly set out in your margin agreement. There have been at least two challenges to that in the Ontario courts in the last 20 years or so, where the former client argued that the bank sold their shares out without first advising them, or, in one of the court cases, after promising to hold off so that the client could put up money, and then reneging on that and selling the client's stock anyway. The court in both cases sided with the bank. The margin is for real, not negotiable, it is there to protect the bank and the other client's capital, and the words "the bank can sell at any time and without prior notice" mean what they say they mean. If you get sold out at a loss, don't expect the courts to give you redress. So obviously you need some "buffer" because of volatility, but how much do you borrow? Now you have to understand some more math. target margin = 1-(1-x)*(1-haircut) x is the price drawdown target margin is how much margin you have to put up. Say Apple is marginable at 30% (the haircut) by your bank. You decide you want to borrow on margin. But you decide, "I will allow Apple to slide 40% from what I buy it at before I get a margin call." So how much margin should you put up? target margin = 1-(1-0.4)*(1-0.3) = 1-0.6*0.7 = 1-0.42 = 0.58. So you have to put up 58% margin. That means if you have $3,000 to invest, you would buy $3,000/0.58 = $5,172 worth of Apple. If Apple is trading at $350 that means it can slide to $210 before you get a margin call. At which point you will have lost 0.4/0.58 = 68.9% of your money. (Remember, leverage is simply 1/margin.) You can convince yourself by working through it as a check. In the example, as you had $3,000 and you margined that at 58%, you bought $3,000/0.58 = $,5172 worth of stock. Obviously your equity at the time of purchase was be $3,000 because you owned $5,172 worth of stock and owed the bank $2,172. Because of the haircut, 0.3*$5,172 = $1,551 could not be used as collateral. Then the stock slid 40%, from $350 to $210, so your total stock position was then (1-0.4)*$5,172 = $3,103. Of course, you still owed the bank $2,172. But remember, not all of the $3,103 was available be used as collateral, only 70% (meaning, 1-haircut) of that. So at $210 your collateral was (1-0.3)*$3,103 = $2,172, exactly the same as the loan amount. $210 was, therefore, the lowest price at which you still have sufficient collateral. Anything less and you would have received a margin call or the bank would simply have automatically sold stock, depending on how they saw the risk. Key takeaway here is that the haircut is 30%, meaning that 30% of your stock cannot be used as collateral, which mathematically also means that your account equity/total amount of stock = (total amount of stock-loan)/(total amount of stock) has to stay at or above 30%. You're putting up 58%, meaning you're borrowing 1/0.58 - 1 = 72 cents from the bank for every dollar of your own money that you put up. The formula above is simply a rearrangement using basic algebra, of the basic margin equation which is: price at margin call = initial price of stock*(1-target margin)/(1-haircut) Whatever you do, make sure you are maxing out your TFSA or possibly RRSP or possibly both before you use margin, or only contribute a small amount of capital to a margin account and make sure your TFSA or RRSP is your main stock investment vehicle. Do not put up your TFSA as collateral on a margin account. You could end up getting a margin call, then the broker transfers the TFSA over to the margin account, but then the stock market slides again and now your TFSA is wiped out along with your margin account. Questrade offers this and I think it's an absolutely terrible idea. Frankly I think the CRA should disallow it. Notice how none of the banks offer this. Also have a plan for a margin call. You will get a margin call at some point. One good plan is simply to sell enough stock to pay off the margin loan and then re-enter margin when conditions warrant. It makes absolutely no sense to have cash lying around to meet a margin call. Why not just invest the cash and not use margin. The old adage is, "Never meet a margin call" and I think that's good advice. If the bank gives you to choice of either putting in more money in or selling, then sell. To me there are only 3 reasons you would use a margin account:
You have a large account in a diversified stock portfolio and you want to borrow against say 5% of that to go and buy a car, renovate your house, pursue an investment other than securities;
You are consistently good at beating the stock market by a significant amount, and you have maxed out or at least significantly contributed to a TFSA or RRSP or have other wealth-generating property, you have a well-thought out plan that you commit to, that governs your trading decisions, how much you will borrow, and what you will do in the event of a margin call;
You are executing certain trades that require a margin account; for example, options spreads, short selling stocks or commodity futures trades.
To me the following are bad reasons to trade on margin:
It looks like a way to make even more money in stocks, even though you don't know how to make money in stocks;
You are a diversified "Canadian Couch Potato" -style investor getting more or less average returns and you realize that you can buy stock get a 5% dividend yield and pay 4% pre-tax on margin money, so you decide to be a margined "couch potato."
Margined investing = active investing = checking your positions at least daily and following a trading plan. Finally, the average investor working with average capital should always, always, make the TFSA their #1 priority. The TFSA is truly a gem. When I was in my 20's back in the 90's, the only tax shelters for the average Canadian were the sale of their primary residence and the RRSP, the latter which is a deferral and a deduction but not an outright break the way the TFSA is. The TFSA offers leverage effectively equal to the capital gains inclusion rate * your average taxation rate, and yet without a margin call and at zero percent and it doesn't even magnify your losses. No margin account can match that. Some investors don't believe in margin at all. Like Warren Buffett, who said in a 2018 CNBC interview, "It's crazy to borrow against securities." (Note he said borrowing against stocks, not borrowing to buy stocks.) But he is right in saying that the bad thing about margin is that it gives you limited additional potential upside but at the cost of great potential downside. Understand the risks. Read your margin agreement. Consider even meeting with a securities lawyer who can explain the agreement to you. Consider this statement from an article posted on a popular stock investing website (Fair dealing exception), posted March 15th, 2020: " https://www.fool.com/investing/2020/03/15/5-ugly-lessons-from-a-nasty-margin-call.aspx From its close on Feb. 19 to its close on March 12, theS&P 500fell more than 26%, a huge decline in less than a month. Like many investors who had been using options in a margin account, I faced a margin call during that precipitous decline and was forced to liquidate positions to satisfy that call. Note that despite facing that margin call, I never actually borrowed money from my broker. I just had margin available and usable from a purchasing power perspective in the event some of my options got exercised against me. It didn't matter to my broker, though, who only saw the margin math, rather than the cash and investment-grade bonds that were also in that account and hadn't seen their values evaporate. Unfortunately, my experience during that margin call revealed some very ugly realities about how Wall Street really works, particularly when it comes to retail investors. " He goes on set out "lessons learned." None of those lessons learned is "read your margin agreement before you trade." So he didn't really learn his lesson. Anyway, it's up to each person to do what is right for them, bearing in mind the risks. But know the risks. Trading with margin doesn't mean you'll be wiped out, but if you trade anything you need to know what you're doing and that is even more important if you've agreed to borrow money. The post here was to explain how to do the calculations for this popular and important financial tool as there is a lot of misinformation out there on the subject, make some suggestions on how you can use it as a part of your overall portfolio, and give my opinions on how one might do that. Whichever road or roads you take, good investing. For more details on the TFSA and its contribution rules, see https://www.reddit.com/CanadianInvestocomments/hcy9r9/how_the_tfsa_works/
Zerodha vs Upstox comparison from the perspective of a daytrader.
I already posted this on indiainvestments but I'm going to post it here too because I'm not sure if my post is going to get approved by the mods there. Every once in a while a discussion pops up on this sub about which is better, zerodha or upstox, and many of the replies are usually from investors or swing traders. As a daytrader who's used them both for almost an year, I just want to share my thoughts on this because it might be useful for someone looking this up in the future. In my personal opinion, zerodha is, by far, the better choice. Not because zerodha is amazing, but because upstox is terrible. Here's why:
Non-existent communication with its clients. Need to get some piece of information? Good luck with that. You can try calling the customer care and most of the time your call will go unanswered. Even if they do pick it up, their agents are very incompetent. They know only about the account-opening process and if you ask them anything else, they're clueless. They'll just give some scripted response and will be of no help. You can try asking on their live-chat. They'll literally make you wait for 20-40 minutes (not exaggerating) and then give you some copy-pasted reply which usually does not answer your question anyway even after all that waiting.
Well if you're desperate enough you can try asking on their forum but the last time any developer or employee even bothered to respond was years ago. Now it's turned into a wasteland full of people posting random crap. Seriously, just visit that link once if you want to have a nice chuckle.
Now coming to their web and app platforms. Their app is decent, no major issue there. Their web platform used to feel very sluggish compared to zerodha's which feels way more smooth & snappy and sometimes it would just completely freeze up and force you to close your browser from the task manager. I have a quite powerful gaming PC with 16gb ram and this was happening even when I had no programs open other than just the browser with only one tab.
I mainly trade commodities and the commodity market is open until midnight. One day I noticed at around 5 in the evening that the charts just completely stopped moving, both on the app and web. I mean they just froze and stopped updating tick by tick. I complained to their customer care both on the phone and on twitter and I thought it was going to get fixed soon because surely they're going to take it seriously when something that big & important is broken, right? Well they didn't. I thought it would at least be fixed before the market opened the next day. Well it still wasn't. I think the devs were not even aware of the issue and the customer care just forgot about it as soon as they hung up the phone and didn't even bother to report it to anybody. I finally got fed up and messaged their co-founder about it on LinkedIn and it got fixed within one hour. May be he didn't even see my message and it was just a coincidence or may be it wasn't.
They recently released a new version of their website which seems to be better than the old one. I used it a little and already noticed a major flaw which was making it impossible to update my orders. Honestly, it's an amateurish mistake involving form validation which makes me question the competency of their developers and if then even bothered to properly test the platform before releasing it. I reported the issue but I highly doubt they even saw my report yet.
All of these are just front-end issues. Now coming to their back-end, one day it just stopped working for almost THREE HOURS straight. Nobody was able to login, both on the app and web of course, and those who were already logged in were not able to place orders, see their positions or do anything at all. I thought may be it was just me but I went on twitter and there was a tsunami of users complaining. Well after such a big fuck-up surely they're going to say something about it right? May be apologize or release a statement about what went wrong or something? Nope, they just remained completely silent like it never even happened. Not even a single post or reply on twitter even to this day. Also this is not a one-time issue. Their back-end stops working quite frequently but it's usually for a few minutes only and not for three hours which is still bad if you're a daytrader. Zerodha has such fuck-ups too sometimes but they usually at least address it instead of pretending like it didn't even happen.
Next, they just do whatever the fuck they want without even informing the clients its going to severely affect. I was using their API (which I was paying a monthly subscription fee for btw) for many months and one day it just stopped working. Then I found out that they had just suddenly decided to STOP their api services INDEFINITELY for almost all of their users with ZERO prior notice. Obviously this is a huge problem especially for those who do algo trading but I guess upstox thought it wasn't such a big deal.
I mainly trade crude oil and one day during the whole corona virus fiasco I wasn't able to place any orders as it was saying I didn't have sufficient money in my account to place an order. I was very confused because I was able to trade without any problem on the previous day and now it's saying insufficient funds even though not much has changed since yesterday? I asked their customer care (it took me almost an hour to get a response from them btw) and they were clueless. They were just sending me a copy-pasted response as usual. I kept digging and found out after a lot of searching that they had decided to suddenly double the margin requirements overnight and even their customer care wasn't aware of it.
Are you seeing a pattern here? Lack of communication. They won't inform you about anything and won't respond to you even if you try to reach out to them. This was the most frustrating part of my experience with them.
This post ended up becoming quite longer than I expected but hopefully it will warn new users to stay away upstox unless they get their shit together but I highly doubt it's ever going to happen. Zerodha has it's flaws too but it's quite decent in my opinion and definitely the best discount broker in India. At least their customer care isn't stupid and can answer some technical questions instead of knowing literally nothing except the account-opening process.
There are decades where nothing happens, and there are weeks where decades happen. - Lenin
I saw a couple of posts on this in the sub, but I think the agriculture reforms that the FM announced yesterday are not getting their due appreciation/discussion/critique here. So, here I give a summary of the reforms and some relevant good quality data links. As mentioned in one of the links:
I would dare say that the regulatory reform needle for Indian agriculture moved more yesterday (15 May) than it did during the last seven decades
There are three major reforms:
Amendment to Essential Commodities Act - ECA was brought in during agri production shortage of 1950s socialist era; would be amended now to deregulate cereal, pulses, edible oils, onion, potato, etc. with no restrictions on export, stocking.
This means farmers and traders will be free to enter into export commitments without the fear that the government may turn the tap on or off based on domestic prices or production.
In simple words, say there is sudden increase in onion prices due to heavy rains and the prices of onions rise from 30->100. Now ECA kicks in and farmers have to sell at 30, not 100(though the final consumer is still paying 100). Also, they can no longer export their produce. But there is a lag period b/w the farmers being forced to sell at 30 and the price dropping back to 30 and the price diff in this lag period is pocketed by the middlemen.
It will also make India a reliable supplier in the agri-produce export markets. Nobody(let alone importers) like unreliability.
APMC Reforms - Central law to give farmers choice to sell, enable interstate trade, e-trade of produce.
Currently, Agriculture Produce Marketing Committee (APMC) laws force farmers to sell only to government-licensed agents at these demarcated mandis, thus denying them fair prices
Now think at a micro level: a farmer may rush to the mandi based on a certain price expectation, but when lots of farmers arrive at the same mandi with their produce, the excess arrivals end up strengthening the buying power of the agents and prices crash. The farmer can, of course, take his produce back home, but this means incurring additional transport and storage costs
Once e-trading is allowed and deliveries can be made outside one’s own state, farmers can sell at an acceptable price and deliver wherever it is advantageous to them
Contract Framing - It tackles all the problems of Indian agriculture:
Think from the perspective of Reliance. Reliance wants to sell potato chips. Currently it has to source the potatoes from some middleman(most probably an APMC agent) who aggregates it from some small level farmers. Now Reliance knows that it needs to sell potato chips for the next 2 years. So, instead of sourcing it form middle men, Reliance will enter into contract with a large number of small farmers to get a large area of land, provide them with best seeds, technology etc. This will deal with the problems of lack of scale; lack of tech. as now Reliance has incentive to enhance production; crop diversification as earlier maybe most of the contract farmers would have grown rice/wheat(as the govt. guarantees to buy these at a fixed price, no matter the amount of production); provide an implicit insurance to the farmers as they now know the big company has promised(legally) to pay them at least Rs x/quintal.
Cut out the middleman: allow buyers and sellers to divide that middleman’s margin between themselves, thus benefiting both producers of food and consumers
[warning: antiblack slur, antiblackness, racism against south Asians and south East Asians] I hope at least one person reads this without a dismissive attitude. Please don’t call me a sell out or suggest I’m not azn since the age + username of this account is enough proof that I’m Bengali. The rhetorical questions asked in the “I support BLM but...” shows me that that particular person didn’t actually research for the answers to those questions. If you do not remember, those questions were saying that because Asians unlike white people did not partake in the same systems of oppression against black people, we are not required to support BLM. However, there are many flaws wrong with that argument, but I will only address the titular sentiment implied by those questions. “Asians have never enslaved Black people.” The siddis of the Indian subcontinent are an Afro-Asian diaspora with multiple pasts and presents which you will learn if you take the time to read this article. Scholars pose theories that Siddhis arrived to South Asia by trade routes from East Africa. However, Siddhis did not only arrive as traders and sailors. Many of them were in fact the very commodities who were traded as domestic slaves and military conscripts during the Indian Ocean Slave Trade. Already existing institutions and markets in North Africa supplied wealthy Muslim Arabs of the Ottoman Empire and other parts of Arabia with African slaves. These African slaves would then be imported to to islands in the Indian Ocean and to the Indian subcontinent. “Until the early 20th century, these broad patterns [of slave trading] were affected by the ebb and flow of local powers and trading networks, the continuing spread of Islam, the changing fortunes of empires (in North Africa, Egypt, the Middle East, Turkey, Abyssinia, Persia, and India), and fluctuating demand for other international goods, from gold, cloth, and ivory to ostrich feathers, cloves, and sugar.” The siddhis are far from the only African diasporas in Asia much less in the Indian subcontinent alone who have ancestors that were enslaved Africans. aznidentity claims to be a platform for pan-asian experiences, histories, and identities. By using broad overarching statements such as “Asians did not enslave Black people” you are not only erasing the complicity of us South Asians and Middle Easterners for such practices and institutions just a century ago, but also the identities and histories of the Afro-Asian diasporas who are the descendants of enslaved Africans. Building on my last point, the legacy of the enslavement in Africans in the Middle East and South Asia still affects how we perceive Africans today. For one, the lack of education on the Indian Ocean Slave Trade is obvious evidence of the continuous marginalization of African diasporas in Asia and black people in general. If you read the first article, you will learn about how the rudimentary education and perception of Siddhi history erases the role that they played into constructing kingdoms, societies, and nations in South Asian as sultans, as domestic slaves, as military conscripts, etc. This has caused the marginalization of Siddhis in Pakistan and India in particular which have the high populations of the aforementioned ethnic group. Lastly, MODERN SLAVERY EXISTS IN THE MIDDLE EAST IN THE FORM OF KAFALA. “For decades, migrant domestic workers in Lebanon have complained of rampant abuse at the hands of their employers. Stories of unpaid wages, being locked into the homes where they work, of violence and sexual assault are all commonplace.”. Arabian gulf economies rely on the cheap labor of migrant workers from Africa, South Asia, and South East Asia. The way that this affects African migrant workers in particular is reflected in the Arabic word “abeed”. Abeed is an antiblack slur which literally means “slave” and is predominantly used against darker skinned Africans. Calling black people abeed has been part of the Arab world long before the kafala system of the exploitation of migrant workers existed, and it’s status as an antiblack slur probably started with the Indian Ocean Slave Trade. This is why Arabs may call Africans or Afro-Arabs an abeed even if they are not migrant workers or domestic servants. The Kafala system relies and supports racism and xenophobia against South Asians and South East Asians in order to exploit Asian migrant workers from those countries. In a similar way, the kafala system relies on and supports antiblackness to exploit African migrant workers, which includes invoking the historical relationship of African slaves and Arab slave masters. The dispossession of Afro-Asian diasporas and the treatment of African migrant workers are rampant consequences of the enslavement of Africans by Asians. I really really recommend reading into the history of Afro-Asian diasporas and the effect of the kafala system on all migrant workers, including black ones and Asian ones, to understand all the nuances of this topic I might have skipped out on. Migrant workers right now in Gulf Countries are forced to do without pay, are being laid off, are being repatriated to their former nations, at alarming rates because of the pandemic. Lastly, it’s upsetting that i know some of you may only care about the kafala system because I mentioned exploited migrant workers from South Asia and South East Asia. But then again, if you’re blindsided by your own racial trauma that you selfishly choose to ignore how your communities contribute to the marginalization of other minorities, you probably don’t care for dismantling system of oppressions you neither benefit or are harmed from.
Investing in stocks can be a daunting task. While building a portfolio or investing in the stock markets, selecting the right stock broker is very crucial. Selecting the right stock at the right time can turn out to be the most lucrative deal and one can make good profits from the wise decision. Similarly, it is very important to time the stock while selling it. Selling the stock at the appropriate time can be equally rewarding. Indira Securities Investing in a wrong stock can be a painful experience. It can lead to losses or take years to break even. Stock markets are definitely not for the people who cannot cope up with ups and downs associated with it. With vast information available in the market, you can analyse a company and take a decision of buying or selling. In this article, we shall understand how to identify stocks to buy or sell. Identifying Stocks for Buying and Selling · Select the Company or Industry with which you are Familiar: When you start investing in stock market, select the industry you like the most. This will make you more interested and you will be able to take the decision in a much-informed way. When you are aware of the industry and company, you will know what hype or information should be ignored. Thus, it is always advisable to start identifying stocks or companies you know well. · Consider Valuation and Price: Before purchasing or selling any stock, it is important that you consider the price and valuation of the stock. If the company is trading at PE multiples of less than 20, it is considered as undervalued and hence a good buy. On the other hand, a company trading at PE multiples of more than 20 is considered as overvalued and hence a good sell. · Look at Margins: Companies survive by selling its products or services in the markets. If the sales or margins of the company are increasing at a good pace, then there is a good potential of a rise in the price of stock in future. Always look at the margins of the company and reasons for the increase, if any. Compare the cost of goods sold and other expenses for the increase in sales. · Technical Indicators: In the recent times, the technical indicators have been gaining popularity. The technical indicators can be in the form of charts that predict the future moment of the stock based on the stock movement in recent times. The technical indicators take into account the volume traded, 50-day and 200-day moving averages, etc. The information provided by the technical indicators can be very valuable while considering buying or selling of any stock. · Upcoming Events: Any upcoming event regarding a company can be a reason for buying or selling the stock. The event can lead to multiple triggers in the price moment of the stock. Knowing and analysing the event right will help in determining the trend of the stock going forward. Thus, buy and sell of the stock can be initiated based on such events. · Evaluate Financial Reports: Understanding and going through the financial reports of the company can make buying and selling decisions easier. Study the yearly reports of the company and compare them. Evaluate the profitability of the company. Check whether the revenue and the bottom line are showing consistent growth. Also look for cash payouts to stock investors in the form of a dividend. By evaluating all the above points, you can decide on whether to buy or sell the stock. Conclusion Indira Securities is the leading financial service provider in India. We provide our clients with regular buying and selling recommendations. Our recommendations are not only based on technical analysis but also on fundamental analysis of the stock. Our services include trading in equity, commodity, currency and derivative. Our mobile application provides the user with hassle free trading opportunity. Open demat account with us and take benefit of our services.
Sweden’s Famously Stealthy Submarine Is Now Even Quieter
Go Sweden! Thanks for that job done! What's the difference inSweden and Switzerland. Switzerland has an economy more like The United States. They complain over there that the Franc is overvalued and they are not paid enough to live. Sweden has progressive taxation and income distribution and has a more stabler economy because of it. Stockholm is the Capital of Sweden since 1523 A.D. It shares the Scandinavian Peninsula with Norway. Coming up is the Difference between Norway and Normandy. Here's a map of Sweden and Norway: Location of Sweden Map from Encyclopedia Britannica Online. Encyclopedia Britannica States," The country has a 1,000-year-long continuous history as a sovereign state, but its territorial expanse changed often until 1809. Today it is a constitutional monarchy with a well-established parliamentary democracy that dates from 1917. Swedish society is ethnically and religiously very homogeneous, although recent immigration has created some social diversity. Historically, Sweden rose from backwardness and poverty into a highly developed postindustrial society and advanced welfare state with a standard of living and life expectancy that rank among the highest in the world. " Here are the Facts of Sweden according to Merriam-Webster: Official Name: Konungariket Sverige (Kingdom of Sweden) Form Of Government: constitutional monarchy with one legislative house (Riksdag, or Parliament ) Head Of State: King: Carl XVI Gustaf Head Of Government: Prime Minister: Stefan Löfven Capital:Stockholm Official Language: Swedish Official Religion: none Monetary Unit: Swedish krona (SEK) Currency Exchange Rate: 1 USD equals 9.879 Swedish krona Population: (2019 est.) 10,284,000 Population Rank: (2018) 89 Population Projection 2030: 11,261,000 Total Area (Sq Mi)**172,750 Total Area (Sq Km)**447,420 Density: Persons Per Sq Mi(2018) 64.7 Density: Persons Per Sq Km(2018) 25 Urban-Rural Population: Urban: (2018) 87.4% Rural: (2018) 12.6% Life Expectancy At Birth: Male: (2017) 80.7 years Female: (2017) 84.1 years Literacy: Percentage Of Population Age 15 And Over: Male: 100% Female: (2008) 100% GNI (U.S.$ ’000,000) (2017) 529,460 GNI Per Capita (U.S.$) (2017) 52,590 Here's what The CIA World FactBook has to say about Sweden: (Here are some highlights): Sweden’s small, open, and competitive economy has been thriving and Sweden has achieved an enviable standard of living with its combination of free-market capitalism and extensive welfare benefits. Sweden remains outside the euro zone largely out of concern that joining the European Economic and Monetary Union would diminish the country’s sovereignty over its welfare system. Timber, hydropower, and iron ore constitute the resource base of a manufacturing economy that relies heavily on foreign trade. Exports, including engines and other machines, motor vehicles, and telecommunications equipment, account for more than 44% of GDP. Sweden enjoys a current account surplus of about 5% of GDP, which is one of the highest margins in Europe. GDP grew an estimated 3.3% in 2016 and 2017 driven largely by investment in the construction sector. Swedish economists expect economic growth to ease slightly in the coming years as this investment subsides. Global economic growth boosted exports of Swedish manufactures further, helping drive domestic economic growth in 2017. The Central Bank is keeping an eye on deflationary pressures and bank observers expect it to maintain an expansionary monetary policy in 2018. Swedish prices and wages have grown only slightly over the past few years, helping to support the country’s competitiveness. In the short and medium term, Sweden’s economic challenges include providing affordable housing and successfully integrating migrants into the labor market. Agriculture - products: This entry is an ordered listing of major crops and products starting with the most important. barley, wheat, sugar beets; meat, milk Industries: This entry provides a rank ordering of industries starting with the largest by value of annual output. iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles Unemployment rate:This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted. 6.7% (2017 est.)7% (2016 est.)country comparison to the world:101 Population below poverty line:National estimates of the percentage of the population falling below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations. 15% (2014 est.) Household income or consumption by percentage share:Data on household income or consumption come from household surveys, the results adjusted for household size. Nations use different standards and procedures in collecting and adjusting the data. Surveys based on income will normally show a more unequal distribution than surveys based on consumption. The quality of surveys is improving with time, yet caution is still necessary in making inter-country comparisons. lowest 10%: 3.4%highest 10%: 24% (2012) Budget:This entry includes revenues, expenditures, and capital expenditures. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms. revenues: 271.2 billion (2017 est.)expenditures: 264.4 billion (2017 est.) Taxes and other revenues:This entry records total taxes and other revenues received by the national government during the time period indicated, expressed as a percent of GDP. Taxes include personal and corporate income taxes, value added taxes, excise taxes, and tariffs. Other revenues include social contributions - such as payments for social security and hospital insurance - grants, and net revenues from public enterprises. Normalizing the data, by dividing total revenues by GDP, enables easy comparisons acr . . .more 50.6% (of GDP) (2017 est.) Now for Switzerland: Map of Switzerland It's rights next to France and Austria and is the size of Half of Scotland according to Encyclopedia Britannica online; This map is from their page. According to Merriam-Webster: Dialing code: +41 Population: 8.57 million (2019) Currency: Swiss franc Swit·zer·land | \ ˈswit-sər-lənd \variants: or FrenchSuisse \ ˈswʸēs \ or GermanSchweiz \ ˈshvīts \ or ItalianSvizzera \ ˈzvēt-tsā-rä \ or LatinHelvetia \ hel-ˈvē-sh(ē-)ə \
Definition of Switzerland
landlocked country (a federal republic) in western Europe in the Alps; capital Bern area 15,937 square miles (41,277 square kilometers), population 8,293,000 see also SWISS entry 1 sense 1 Britannica states: " For many outsiders, Switzerland also evokes a prosperous if rather staid and unexciting society, an image that is now dated. Switzerland remains wealthy and orderly, but its mountain-walled valleys are far more likely to echo the music of a local rock band than a yodel or an alphorn. Most Swiss live in towns and cities, not in the idyllic rural landscapes that captivated the world through Johanna Spyri’s Heidi (1880–81), the country’s best-known literary work. Switzerland’s cities have emerged as international centres of industry and commerce connected to the larger world, a very different tenor from Switzerland’s isolated, more inward-looking past. As a consequence of its remarkably long-lived stability and carefully guarded neutrality, Switzerland—Geneva, in particular—has been selected as headquarters for a wide array of governmental and nongovernmental organizations, including many associated with the United Nations (UN)—an organization the Swiss resisted joining until the early 21st century. " According to CIA"S World Factbook. Switzerland's Economy is as such: Switzerland, a country that espouses neutrality, is a prosperous and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies. The Swiss have brought their economic practices largely into conformity with the EU's to gain access to the Union’s Single Market and enhance the country’s international competitiveness. Some trade protectionism remains, however, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled demand for Swiss exports and put Switzerland into a recession. During this period, the Swiss National Bank (SNB) implemented a zero-interest rate policy to boost the economy, as well as to prevent appreciation of the franc, and Switzerland's economy began to recover in 2010. The sovereign debt crises unfolding in neighboring euro-zone countries, however, coupled with economic instability in Russia and other Eastern European economies drove up demand for the Swiss franc by investors seeking a safehaven currency. In January 2015, the SNB abandoned the Swiss franc’s peg to the euro, roiling global currency markets and making active SNB intervention a necessary hallmark of present-day Swiss monetary policy. The independent SNB has upheld its zero interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell below 2% per year from 2011 through 2017. In recent years, Switzerland has responded to increasing pressure from neighboring countries and trading partners to reform its banking secrecy laws, by agreeing to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The Swiss Government has also renegotiated its double taxation agreements with numerous countries, including the US, to incorporate OECD standards. GDP (purchasing power parity) $523.1 billion (2017 est.) $514.5 billion (2016 est.) $506.5 billion (2015 est.) note: data are in 2017 dollars GDP (official exchange rate) $679 billion (2017 est.) GDP - per capita (PPP): $62,100 (2017 est.) $61,800 (2016 est.) $61,500 (2015 est.) note: data are in 2017 dollars Gross national saving: 33.8% of GDP (2017 est.) 32.3% of GDP (2016 est.) 33.9% of GDP (2015 est.) GDP - composition, by end use: 53.7% (2017 est.) government consumption: 12% (2017 est.) investment in fixed capital: 24.5% (2017 est.) investment in inventories: -1.4% (2017 est.) exports of goods and services: 65.1% (2017 est.) imports of goods and services: -54% (2017 est.) GDP - composition, by sector of origin: agriculture: 0.7% (2017 est.) industry: 25.6% (2017 est.) services: 73.7% (2017 est.) Agriculture - products: grains, fruits, vegetables; meat, eggs, dairy products Industries: machinery, chemicals, watches, textiles, precision instruments, tourism, banking, insurance, pharmaceuticals Industrial production growth rate: 3.4% (2017 est.) country comparison to the world:92 Labor force**:**5.159 million (2017 est.) country comparison to the world:81 Labor force - by occupation: agriculture: 3.3% industry: 19.8% services: 76.9% (2015) Unemployment rate: 3.2% (2017 est.) 3.3% (2016 est.) country comparison to the world:40 Population below poverty line: 6.6% (2014 est.) Household income or consumption by percentage share: lowest 10%: 7.5% highest 10%: 19% (2007) Budget: revenues: 242.1 billion (2017 est.) expenditures: 234.4 billion (2017 est.) note: includes federal, cantonal, and municipal budgets Taxes and other revenues: 35.7% (of GDP) (2017 est.) country comparison to the world:60 Budget surplus (+) or deficit (-): 1.1% (of GDP) (2017 est.) country comparison to the world:33 Public debt: 41.8% of GDP (2017 est.) 41.8% of GDP (2016 est.) note: general government gross debt; gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future; includes debt liabilities in the form of Special Drawing Rights (SDRs), currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable; all liabilities in the GFSM (Government Financial Systems Manual) 2001 system are debt, except for equity and investment fund shares and financial derivatives and employee stock options country comparison to the world:119 Fiscal year: Inflation rate (consumer prices): 0.5% (2017 est.) -0.4% (2016 est.) country comparison to the world:30 Current account balance: $66.55 billion (2017 est.)$63.16 billion (2016 est.) country comparison to the world:7 Exports: $313.5 billion (2017 est.) $318.1 billion (2016 est.) note: trade data exclude trade with Switzerland country comparison to the world:17 Exports - partners: Germany 15.2% US 12.3% China 8.2 %India 6.7% France 5.7% UK 5.7% Hong Kong 5.4% Italy 5.3% (2017) Exports - commodities: machinery, chemicals, metals, watches, agricultural products Imports: $264.5 billion (2017 est.) $266.3 billion (2016 est.) country comparison to the world:18 Imports - commodities: machinery, chemicals, vehicles, metals; agricultural products, textiles Imports - partners: Germany 20.9%, US 7.9% Italy 7.6%, UK 7.3% France 6.8% China 5% (2017) Reserves of foreign exchange and gold: $811.2 billion (31 December 2017 est.) $679.3 billion (31 December 2016 est.) country comparison to the world:3 Debt - external:. $1.664 trillion (31 March 2016 est.) $1.663 trillion (31 March 2015 est.) country comparison to the world:12 Exchange rates: Swiss francs (CHF) per US dollar -0.9875 (2017 est.) 0.9852 (2016 est.)0.9852 (2015 est.) 0.9627 (2014 est.) 0.9152 (2013 est.) And their Military is such as CIA states: Military expenditures**:This entry gives spending on defense programs for the most recent year available as a percent of gross domestic product (GDP); the GDP is calculated on an exchange rate basis, i.e., not in terms of purchasing power parity (PPP). For countries with no military forces, this figure can include expenditures on public security and police. 0.68% of GDP (2018)0.68% of GDP (2017)0.68% of GDP (2016)0.66% of GDP (2015)0.66% of GDP (2014)country comparison to the world:138 Military and security forces**:This entry lists the military and security forces subordinate to defense ministries or the equivalent (typically ground, naval, air, and marine forces), as well as those belonging to interior ministries or the equivalent (typically gendarmeries, bordecoast guards, paramilitary police, and other internal security forces). Swiss Armed Forces: Land Forces, Swiss Air Force (Schweizer Luftwaffe) (2019) Military service age and obligation**:This entry gives the required ages for voluntary or conscript military service and the length of service obligation. 18-30 years of age generally for male compulsory military service; 18 years of age for voluntary male and female military service; every Swiss male has to serve at least 245 days in the armed forces; conscripts receive 18 weeks of mandatory training, followed by six 19-day intermittent recalls for training during the next 10 years (2019) Refugees and internally displaced persons: refugees (country of origin): 34,072 (Eritrea) 16,565 (Syria) 12,282 (Afghanistan) 5,744 (Sri Lanka) (2018) stateless persons: 49 (2018) Illicit drugs a major international financial center vulnerable to the layering and integration stages of money laundering; despite significant legislation and reporting requirements, secrecy rules persist and nonresidents are permitted to conduct business through offshore entities and various intermediaries; transit country for and consumer of South American cocaine, Southwest Asian heroin, and Western European synthetics; domestic cannabis cultivation and limited ecstasy production. Here's an article about an International Dispute with the European Union (EU): https://www.express.co.uk/news/world/1283471/eu-news-switzerland-rejected-membership-bloc-twice-spt When looking to solve problems with countries, look at their economy and study it.
BJP Manifesto Congress Manifesto The BJP Manifesto is available in Hindi and English, while the Congress Manifesto is available in Hindi, English, Odia, Telugu, Kannada, Marathi, Punjabi, Assamese. I've provided a few highlights from both the manifestos. The manifestos are large and it is not possible to cover all the points. I have covered the points which I believe are easier to judge on implementability.
Congress manifesto is longer.
BJP Manifesto doesn't allow to copy text (even though it is a PDF document).
Highlights of BJP Manifesto
Welfare of Soldiers - Armed forces will start planning for the resettlement of solders three years before their retirement and in accordance with their preferences. This will include provision for skills training, soft skills training, financial support for higher education, for housing and for starting an enterprise.
Citizenship Amendment Bill - Hindus, Jains, Buddhist and Sikhs escaping persecution from India's neighbouring countries will be given citizenship in India.
Combating Left Wing Extremism - We are committed to taking necessary and effective steps against left wing extremism to eliminate this menance in the next five years.
Jammu & Kashmir - Article 370 - We reiterate our position since the time of the Jan Sanhg to the abrogation of Article 370. We are committed to annulling Article 35A of the Constiution of India as the provision is discriminatory against non-permanent residents and women of Jammu and Kashmir.
Pension for small and marginal farmers - We will launch a pension scheme for all small and marginal farmers in the country so as to ensure socoail security to them on reaching 60 years of age.
Interest-free Kisan Credit Card loans - We will provide short-term new agriculture loans up to Rs. 1 lakh at 0% interest rate for 1-5 years on the condition of prompt repayment of the principal amount.
Digitization of Land Record - On the lines of Aadhar project, we will complete digitization of land records on a mission mode.
Fisheries - Blue Revolution - We will bring all fishermen under the ambit of all welfare programmes and social security schemes with expanded coverage of accident insurance.
Top 50 Ranking in Ease of Doing Business Index.
To protect the interests of small traders, we will provide an accident insurance of 10 lakh rupees to all the tranders registered under GST.
To encourage the spirit of entrepreneurship amongst the youth, we will launch a new scheme to provide collateral-free credit up to 50 lakh for entrepreneurs. We will guarantee 50% of the loan amount for female entrepreneurs and 25% of the loan amount for male entrepreneurs.
Urban Mobility - We will launch a national urban mobility mission to provide technology based urban mobility solutions to all urban local bodies and increase the use of public transport, enhance walkability and cycle use.
Swachh Bharat Mission - We will ensure that all habitations attain open defecation free status and those that have attained the status sustain the behavioural change.
Road Connectivity - We will double the length of National Highways by 2022.
Railways - We will ensure conversion of all viable rail traicks to broad gauge by 2022.
Railways - We will make all efforts to ensure electrification of all railway tracks by 2022.
Establishment of New Airports - In the next five years, we will double the number of functional airports.
Coastal Development - We will double our port capacity in the next five years.
Eliminating Tuberculosis - We have rolled out a special mission to eliminate TB from India by 2025.
Simulatenous elections - Wea re committed to the idea of simulatenous elections for Parliament, State assemblies and local bodies to reduce expenditure, ensure efficient utilisation of government resources and security forces and for effective policy planning.
Protecting the Himalayas - We will ensure the Himalayan States are provided special financial assistance in the form of a 'Green Bonus' to facilitate the protection and promotion of forests in those states.
Higher Education - We will take all necessary steps to increase the number of seats in Central LAw, Engineering, Science and Management institutions by at least 50% in the next five years.
Women-led Development - To generate better work opportunities for women, 10% material to be sourced for government producrement will be done from MSMEs having at least 50% women employees in their workforce.
Ensuring equal rights - We will legislate a bill to prohibit and eliminate practices such as Triple Talaq and Nikah Halala.
Reservation for Women - BJP is committed to 33% reservation in parliament and state assemblies through a constitutional amendment.
Ensuring welfare of Poor - We will ensure pucca houses for families either living in kuchha houses or without access to housing by 2022.
Political resolution of the matter of Gorkha - We are also committed to implement the reservation in the legislative asssembly of Sikkin for Limboo and Tamang tribes.
Pension scheme for all small shopkeepers - We will expand the Pradhan Mantri Shram Yogi Maandhan scheme to cover all small shopkeepers.
Ram Mandir - We reiterate our stand on Ram Mandir. We will explore all possibilities within the framework of the Constitution and all necessary efforts to facilitiate the expeditious construction of the Ram Temple in Ayodhya.
** Sabarimala** - We will undertake every effort to ensure that the subject of faith, tradition and worship rituals related to Sabarimala are presented in a comprehensive manner before the Hon'ble Supreme Court. We will endeavour to secure constitutional protection on issues related to faith and belief.
Unifirm Civil Code - BJP reitrates its stand to draft a Uniform Civil Code.
Highlights of Congress Manifesto
Jobs - All of the 4 lakh vacancies as on 1 April 2019 in the Central Government, Central Public Sector Enterprises, Judiciary and Parliament will be filled before the end of March 2020.
Jobs - Application fees for government examinations and government posts will be abolished.
Jobs - Congress will require businesses employing 100 persons or more to start an apprenticeship programme, impart skills, pay a stipend, and employ from among the trained apprentices whenever a job is created or becomes vacant in that business. We will amend The Companies (Corporate Social Responsibility Policy) Rules, 2014 to include ‘Apprenticeship’ as an additional activity.
Industry - Congress promises to increase the share of India’s manufacturing sector from the current level of 16 per cent of GDP to 25 per cent within a period of 5 years and to make India a manufac-turing hub for the world.
Industry - Congress will announce a ‘Make for the World’ policy under which foreign and Indian companies will be invited to invest in ‘Exclusive Export-only Zones’, manufacture and export their entire pro-duction, pay no indirect taxes and pay a low rate of corporate tax.
Industry - Congress will acquire patents, create a patent pool and make advanced technologies available to small and medium businesses.
Urban Policy - Congress will introduce a new model of governance for towns and cities through a directly elected mayor with a fixed term of 5 years, an elected Council and a separate administrative structurefor each urban body.
Urban Policy - Congress promises the Right to Housing for the urban poor and protection from arbitrary eviction. We will build night shelters for the homeless so that no one will sleep in the open.
Rural Development - We will pass the Right to Homestead Act to provide a homestead for every household that does not own a home or own land on which a house may be built.
Information and Unorganised Sector - Congress will ratify ILO Convention 87 (Freedom of Association) and ILO Convention 98 (Right to Organise and Collective Bargaining).
Agriculture - Congress will repeal the Agricultural Produce Market Committees Act and make trade in agricultural produce—including exports and inter-state trade—free from all restrictions.
Agriculture - Debt is a civil liability and we will not allow criminal proceedings to be instituted against a farmer who is unable to pay his/her debt.
Agriculture - The Essential Commodities Act, 1955 belongs to the age of controls. Congress promises to replace the Act by an enabling law that can be invoked only in the case of emergencies.
Economics - The Angel Taximposed on Start-Ups will be withdrawn completely.
Economics - NYAY
The target population will be 5 crore familieswho constitute the poorest 20 per cent of all families. They will be the beneficiaries of MISP or NYAY;
Each family will be guaranteed a cash transfer of Rs. 72,000 a year;
As far as possible, the money will be transferred to the account of a woman of the family who has a bank account or who will be urged to open a bank account;
There will a Design phase (3 months) followed by a Pilot and Testing phase (6–9 months) before roll-out;
The rollout will be implemented in phases;
The estimated cost will be <1 per cent of GDP in Year 1 and <2 per cent of GDP in Year 2 and thereafter.
As the nominal GDP grows and families move out of poverty, the cost will decline as a propor-tion of GDP.
Economics - GST 2.0 - The GST 2.0 regime will be based on a single, moderate, standard rate of tax on all goods and services.
Banking - Congress will amalgamate 2 or more PSBs so that there will be only 6-8 PSBs with a national presence and reach.
Science - Congress promises to work with industry to increase the expenditure on science and technology to 2 per cent of GDP.
Fisheries - Congress will establish a separate Ministry of Fisheries and Welfare of Fisherfolk.
National Security - Congress will provide a statutory basis to the National Security Council (NSC) and the office of National Security Adviser (NSA). Their powers and functions will be defined under the law and both authorities, and the agencies under them, will be accountable to Parliament.
Internal Security - The most serious threats to internal security emanate from (1) terrorism, (2) infiltration of militants, (3) Maoism or Naxalism and (4) caste or communal violence. Congress believes that each of these threats deserves a separate and distinct response.
CAPF - Congress promises to ensure increased representation of women to achieve a minimum of 33 per cent in the force strength of CISF, CRPF and BSF.
Arts - Congress will guarantee artistic freedom. Artists and craftsmen will enjoy the freedom to express their views in any form without fear of censorship or retribution. Attempts by vigilante groups to censor or intimidate artists will be viewed seriously and action against them will be taken according to the law
Instututions - Congress promises to amend the Anti-Defection Law to provide for instant disqualification of a Member of Parliament or a Member of the State Legislature for proven disobedience to the party’s whip or for withdrawing allegiance to the party or for supporting another party. A disqualified mem-ber shall not be eligible to hold any public office (including that of minister) or be a candidate in an election to Parliament or the State Legislature for a period of 2 years from the date of disqualification.
Instutions - Congress promises to amend the Aadhaar Act, 2016 in order to restrict the use of Aadhaar to subsidies, benefits and services provided by the government as was originally intended under the law.
Governance - We will introduce a Diversity Index as a metric to assess and ensure diversity in all government bodies, semi-government agencies, public sector enterprises and other public bodies.
Governance - Congress promises to pass an Anti-Discrimination Law to prohibit discrimination on the basis of religion, caste, gender or language in the supply of goods and services that are made available to the public in general such as housing, hostels, hotels, clubs, etc.
State-Centre relations - We will review the distribution of legislative fields in the Seventh Schedule of the Constitution and build a consensus on transferring some legislative fields from List III (Concurrent List) to List II (State List).
State-Centre relations - Congress will give Special Category status to Andhra Pradesh as promised by Dr. Manmohan Singh on 20 February 2014 in the Rajya Sabha.
State-Centre relations - Congress promises full statehood to Puducherry.
Local Self-Governments - We will remove all provisions stipulating pre- qualifications (such as minimum education) for candidates at elections to local bodies.
Judiciary - Congress will introduce a Bill to amend the Constitution to make the Supreme Court a Constitutional Court that will hear and decide cases involving the interpretation of the Constitution and other cases of legal significance or national importance.
Laws - Omit Section 499 of the Indian Penal Code and make ‘defamation’ a civil offence;
Laws - Omit Section 124A of the Indian Penal Code (that defines the offence of ‘sedition’) that has been misused and, in any event, has become redundant because of subsequent laws.
Laws - Amend the Armed Forces (Special Powers) Act, 1958 in order to strike a balance between the powers of security forces and the human rights of citizens and to remove immunity for enforced disappearance, sexual violence and torture.
Police reforms - Cause investigations into cases of communal riots, lynchings and gang rapes by a special wing of the State police under the direct command of the State Headquarters of the police.
Media - Congress will pass a law to curb monopolies in the media, cross-ownership of different segments of the media and control of the media by other business organisations. Congress will refer cases of suspected monopolies to the Competition Commission of India.
New Planning Commission - Congress will scrap the Niti Aayog.
Gender Justice - Congress promises to pass the Constitution (Amendment) Bill to provide for reservation of 33 per cent of seats in the Lok Sabha and State Legislative Assemblies in the first session of the 17th Lok Sabha and in the Rajya Sabha.
Gender Justice - We will amend the Service Rules to reserve for women 33 per cent of appointments to posts in the Central Government.
Reservation - Congress promises to amend the Constitution to provide for reservation in promotion posts for SCs, STs and OBCs.
NE States - We will withdraw immediately the widely resented Citizenship Amendment Bill introduced by the BJP Government against the wishes of the people of the NES.
Minorities - We will pass a new law in the first session of the 17th Lok Sabha and in the Rajya Sabha to prevent and punish hate crimes such as mob-engineered stripping, burning and lynching.
Healthcare - Congress promises that the total government expenditure on healthcare will be doubled to 3 per cent of GDP by the year 2023-24.
Education - Congress promises to double the allocation for Education to 6 per cent of GDP in the 5 years ending 2023-24.
Education - We will take measures to dispense with the NEET examination.
Environment - Congress recognises that air pollution is a national public health emergency.
Environment - We will work with State Governments to increase the forest cover from the current level of 21 per cent to 25 per cent by the year 2025.
Digital Rights - Provide access to all persons to high quality internet at affordable rates;
Digital Rights - Uphold the principle of net neutrality.
Digital Rights - Pass a law to protect the personal data of all persons and uphold the right to privacy;
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Several brokerages slashed their target price for the stock The company reported net loss of ₹1228.53 crore in Q3 https://preview.redd.it/s4d1v37ye1g41.jpg?width=1200&format=pjpg&auto=webp&s=16e97366857e9c8129809ecafe6fa1924d8e2074 Shares of Tata Steel Ltd on Monday slipped 5.4%, the highest fall in two months, as the company reported weak numbers for the December quarter and as several brokerages slashed their target price for the stock. At 1102 am, the stock was trading at ₹446.45 apiece on the BSE, down 5.2% from its previous close. The company reported a net loss of ₹1228.53 crore in the third quarter of this fiscal against a profit of ₹1753 crore a year ago. Consolidated revenue fell 8.9% year-on-year to ₹35,520 crore in October-December. Earnings before interest, tax, depreciation and amortization (Ebitda) nearly halved to ₹3,659 crore in Q3, from ₹6,726 crore in the previous year, while Ebitda per tonne fell to ₹5,003 from ₹10,404 in Q3 FY19. Tata Steel’s net profit from India operations was ₹1,194 crore, down 47% year-on-year. Revenue fell 4.6% to ₹21,299 crore even though steel sales rose 25% in the quarter to 4.85mt. For Europe operations, the company reported its worst-ever quarterly performance with an EBITDA loss of ₹960 crore. While analysts expect EBITDA to recover in January quarter given better steel spreads, the purchase of carbon credits would put a lid on profits. “Tata Steel reported a substantial miss on adjusted earnings majorly led by EBITDA loss at Europe and partially due to weak domestic margins. Domestic margins should recover from 4QFY20 due to a surge in prices. However, cost reduction initiatives in Europe are taking longer to yield results and we expect cash breakeven only from 2HFY21E. The company is prudently delaying growth capex to contain leverage,” said Kotak Institutional Equities in a note to its investors. Kotak has cut its EBITDA estimates by 14-8% for fiscal 2020-21 and slashed its target price to ₹560 a share from ₹600. “While steel margins are likely to improve in the near term, the impact of carbon costs would keep TSE margins under check. Successful completion of the announced TSE business restructuring and the turnaround of the acquired Bhushan assets hold the key to achieve the guided USD1b net debt reduction in FY21,” said brokerage firm Motial Oswal in a note to its investors. The brokerage firm has cut its target price by 4% to ₹450 a share. Brokerage firm Investec has reduced its target price to ₹515 from ₹560, while Edelweiss Securities has cut its target price to ₹570 from ₹590 a share. Brokerage firm Philip Securities has downgraded the stock to neutral from buy and kept its target price at ₹476.83 a share.The stock currently has 22 buys, four holds and four sell ratings, according to Bloomberg. Watch our Stock Market Target Calls Quality, Track sheet – Click Here or Subscribe us for Stock Market Trading >>>>Stock Cash Tips
Stocks to Watch: Kotak Mahindra Bank, Yes Bank, Bajaj Auto, Tata Motors
https://preview.redd.it/rbxage77k1e41.jpg?width=743&format=pjpg&auto=webp&s=58af7a9cf34d08ac579c70e8b7ed94166225186b Kotak Mahindra Bank: The private sector lender will withdraw its writ petition against the RBI after a climbdown from the central bank on promoter shareholding caps. The RBI has in-principle accepted promoters voting rights in the bank to be capped to 20% of paid-up voting equity share capital until March 31, 2020. Yes Bank: The private sector lender sold 15,66,909 equity shares, constituting 2.68 % of the paid-up share capital of SICAL Logistics Ltd in various tranches. Post sale, the shareholding of Yes Bank in SICAL Logistics has come down to 5.49%. Bajaj Auto: Beating street estimates, the two-wheeler major reported 15% jump in net profit to ₹1,262 crore for the quarter ended December 31, driven by an improved operating margin. Also, Rahul Bajaj, will step down as the chairman and whole-time director of the company on 1 April. Tata Motors: The auto major on Thursday posted a consolidated net profit of ₹1,755.88 crore for the third quarter ended December 31, 2019. Tata Motors Ltd had reported a net loss of ₹26,960.8 crore during the October -December period of 2018-19. Dabur India: Fast moving consumer goods company Dabur India Ltd posted a 8.62% jump in consolidated net profit for the quarter ended December 31, at ₹398.87 crore up from ₹367.21 crore it posted in the year ago period. Marico: Homegrown FMCG major Marico Ltd reported 11% year-on-year growth in its consolidated net profit at ₹272 crore for the third quarter ended December 31, 2019, aided by growth in international business. Colgate-Palmolive: Fast moving consumer goods (FMCG) firm Colgate-Palmolive (India) Ltd posted a marginal increase of 3.6% in its net profit to ₹199.10 crore on the back of moderate sales during the quarter. Volume growth of the company, however, slipped to 2.3% as against 4% seen in the September quarter. Bharti Infratel: Telecom infra firm Bharti Infratel reported a 23% on year rise in net profit at ₹799 crore for the third quarter this fiscal, owing to improved net additions in towers and co-locations. IL&FS Transportation Network: The company has defaulted on interest payments worth over ₹3.5 crore on its Non-Convertible Debentures, It said in a filing with the exchanges. Earnings: Hindustan Unilever, ITC, Vedanta will announce their earnings for the third quarter ended 31 December today. Watch our Stock Market Target Calls Quality, Track sheet – Click Here or Subscribe us for Stock Market Trading >>>>Stock Cash Tips
Sharering (SHR) I believe this one is going to surprise so many. Already generating revenue and doing buybacks every week. Already over 10 000 registered users. Mainnet + app + masternodes and staking before EOY.
I got this stuff from Steve Aitchison, he wrote this review and posted it on Uptrennd. Figured I should put it on here as well since I truly believe this is an incredible moonshot. I'm personally holding SHR myself and am very convinced it will do extremely well. Give a read through it and you will immediatly see why. Enjoy guys. Introduction Imagine for a second the following scenario. You are a 2 car family. One car is used every day going back and forth to work, for shopping, all the little jaunts you and your husband like to go on. Your grown children are at university and come home for the weekends so the other car sits in the driveway all week and doesn’t get used during the week. What a waste of a perfectly good car. You think to yourself we could put that car to good use and actually help to pay for university fees, by renting it out during the week. However, then you think “well it’s only a little Ford Fiesta who’s going to want to rent that.” Well, it turns out a lot of people want to rent it and for a good price: £34 ($40) per day, a possible $800 per month. Peer to peer car sharing has grown massively over the last few years and people are making serious money by letting our vehicles on a daily basis, emulating the Airbnb model. In fact companies like Turo, Getaround and Drivy, which has just been acquired by Getaround for $300 Million, are bringing in serious investors like Toyota, Softbank Vision Fund, Menlo Ventures, and IAC to the tune of over $800 Million. A key difference between rental companies and peer to peer is that they have vastly improved technology with app interfaces that make locating assets and resources, reserving and using them, and making payment convenient and seamless. This, combined with location-specific analytics, allows by-the-minute access to assets and resources (e.g. cars or bicycles) and enables customers to pick up and drop these assets where and when convenient. Car sharing is just one example of an industry that is being disrupted. We have seen, experienced and read about the amazing growth of Airbnb which is now estimated to be valued at $38 Billion. Airbnb has been so successful that companies like booking.com are trying to get in on the act by adopting a similar model when it comes to booking accommodation. There is also the phenomenal rise of bicycle rentals which we see in cities all over the world, not quite the same as peer to peer sharing, but it’s another rental model that is ripe for being disrupted by the new sharing model. With this business model in mind what other areas could it be used in: Transport: Used for the rental of cars, trucks, scooters, trailers, and even heavy vehicles. Delivery Drivers: Facilitate booking and payment for delivery drivers. Agriculture: Garden sharing, seed swap, bee-hive relocation, etc. Finance: Peer to peer lending Food bank, social dining Travel Tours, shared tour groups Real Estate Airbnb, co-housing, co-living, Couchsurfing, shared office space, house swapping. Time: Labour, co-working, freelancing Assets Book swapping, clothes swapping, fractional ownership, freecycling, toy libraries. Transportation Car sharing, ride-sharing, car-pooling, bicycle sharing, delivery company, couriers And so much more! This newly emerging, but highly fragmented sharing industry, is currently worth over $100 billion. It is predicted to grow to at least $335 billion by 2025. As you can see from a few examples above the sharing economy has a lot of room to grow but what it doesn’t have, yet, is a company who can facilitate ALL of the above use cases in one place. That is until now! ShareRing is disrupting the disruptors by bringing everything together in one place and making it easy for you and me to share anything and everything and making it as easy as opening an app on your phone. Business Case The sharing market has exploded over the last several years. This is due, in part, to the digital age we live in, as we now have over 2.82 Billion people with smart phones around the world. It also due to how easy the business model of sharing lends itself to the digital world, and how with the simple installation of an app we can access a plethora of markets to rent almost anything from. Due to this rise of digital platforms and the proliferation of smartphones, revenues coming from sharing economy platforms are only expected to increase. It is estimated to grow to a $335 billion industry in 2025, compared to its $14 billion value in 2014. (PwC UK). The beauty of the sharing economy is that it is a win/win/win situation for the person who wants to rent something for a few days or weeks, the person who is renting out, and the company who facilitates the ease of the transactions between the renter and the person renting out. Typically the renter will save a lot of money whilst renting out someone else’s apartment, car, bicycle, clothes, dog sitting services etc and they can almost be assured of quality due to the social side of the business model with reviews from real people. The person who is renting out can make additional income and will want good reviews and therefore keep the standard of service higher. The company that is facilitating all of this can make a lot of money on transaction fees, as well as from advertising, and partnership deals, and obviously have an exit strategy for possible buyouts. When it comes to looking at the business model, ShareRing fits in to the Commission Based Platform as described in Ritter and Schanz study where they looked at the core difference in difference business models of the sharing economy: Singular Transaction Models, Subscription-Based Models, Commission-Based Platforms and Unlimited Platforms.) Commission Based Platforms are dominated by (at least) triadic relationships amongst providers, intermediaries and consumers with a utility-bound revenue stream. These business models enable their customers to switch between provider and consumer roles by creating and delivering the value proposition. Only a few employees work for the intermediary and the value creation and delivery is externalized. From a consumer perspective, consumers are empowered to collaborate with each other and to design the collaboration terms by negotiating the terms and conditions of the content, creation, distribution and consumption of the value proposition. Depending on the orientation of the value proposition, consumers purchase commodities (Tauschticket, ebay), access commodities in a defined timespan (booking.com, Airbnb) or buy services (uber, turo) from occasional and professional providers found via an intermediary. The intermediary mainly focuses on nurturing a community feeling and reducing exchange insecurity by incorporating rating systems, micro-assurances and standardizations of payment and delivery into the platform. The platform mainly takes commissions for successful matching and executing trade. (Journal of Cleaner Production Volume 213, 10 March 2019, Pages 320-331) The USP of the ShareRing Business Model The USP that ShareRing has is that it brings all of the different forms of sharing together in one app through partnerships and onboarding of users. No other company, to date, is bringing everything together in such a way. However there are other factors that make ShareRing unique, which we will look at. Token Economics SHR is a utility token and will be used to pay for transactions on the network, such as 'new booking', 'add asset', etc. SHR is used by providers to pay for their access to the ShareLedger blockchain, including the addition of assets, renting out of assets, adding attributes, adding smart contracts, and other features. SharePay (SHRP) is used by customers to pay for the rental of assets. Masternodes will also be a main feature of the SHR token. When a transaction fee is incurred, it will be distributed in a way that allows for masternode holders who provide a service to the platform to receive a reward from each transaction. Transaction fees are charged to sharing providers in SHR. The distribution of transaction fees will be as follows: 50% - will be distributed amongst the active masternode holders who host an active node on the blockchain at that point in time (these holders provide a service to the platform). The distribution will be based on a calculation of the Total Amount Staked and the total continuous uptime of the node. 50% - will be provided to ShareRing Ltd (view ShareRing owned masternodes) for various purposes that contribute to working capital and platform growth. Leased Proof of Stake Consensus ShareRing have chosen the Leased Proof-of-Stake protocol as the consensus algorithm for ShareLedger. This choice is based on the practicality and security benefits evident in the Waves platform. It is also much more cost effective than Proof-of-Work (POW), and will not suffer from the current issues Bitcoin and other POW cryptocurrencies are facing such as scalability and electricity consumption. As explained above master nodes will be a main feature but there is the other feature of lightweight nodes. A user with a lightweight node will be able to stake their tokens to a full node of their choosing and participate in reaching consensus. They will also be free to cancel their leasing at any time as there are no contracts or freezing periods. The more tokens that have been staked in a full node, the higher the probability the node will have in producing the next block. Since the reward is given based on the total number of tokens staked in the full node, there will always be a trade-off between the size of the full node and the percentage of the reward. As an average user of the platform, you will not need to have technical knowledge on how to set up a node nor will you have to download the entire blockchain in order to stake your tokens. Only a user who sets up a full node will be required to do this, making it simpler than ever for users to earn a reward for supporting the platform. The return expected for staking is expected to be around 6 - 8% although this has yet to be confirmed. Buybacks ShareRing are currently implementing a series of buybacks which started in the beginning of November: The buyback operation is done at a random time during the week. If there is enough liquidity, SHR tokens will be bought through a single market order at the time of buyback. In case there is not enough liquidity, a limit buy order at last sell order price will be placed on the market, and will remain open until it gets filled. The buyback program was implemented to test the API purchase process for when live transactions occur on ShareLedger The Buyback Program is expected to:
Reduce the supply of ShareTokens available in both public and private markets
Bring New capital and fund inflows into the Shareledger
Substantially magnify value creation for the ShareToken holders
The Token Flow ShareRing will bring in hundreds of merchants to list their rental products, either exclusively or as part of an aggregator system e.g. When you look at the likes of trivago.com they will list the best hotel prices from multiple merchants who are listed on their website. Essentially ShareRing will become part of the aggregator ecosystem and be listed on sites like trivago.com as well as have exclusive agreements with merchants who are listed directly on their app. ShareRing’s USP is that they have everything on one place as well as their OneID module with means buyers can get a hotel, rent a car, rent their ski equipment, book events all through the one app and using the OneID. With that in mind they are going to attract a lot of merchants. This is where it gets exciting so pay attention to this part. When a merchant is part of the ShareRing ecosystem and a buyer rents something from that merchant ShareRing will take a small % commission from that transaction. So say someone books a hotel for $100 for the night, ShareRing might take $0.50 as a commission. What ShareRing will then do is go to one of the exchanges that ShareRing (SHR) is listed on and buy SHR tokens directly using an API system using USDT. Now, the actual commission has not been disclosed yet however if we assume even a 0.25% commission that means for every $100 Million worth of bookings made through the app will net ShareRing $250,000 which means buy backs of $250,000 for the SHR token, which increases the liquidity of SHR on the exchanges. If you think $100 Million of bookings is a lot, booking.com customers book around 1.5 Million rooms per day, if we estimate an average of $50 per room that is $75 million of bookings PER DAY or $2 Billion worth of bookings per month. This revenue coupled with revenue from OneID and eVOA makes ShareRing profitable almost from day one of the app going live. OneID And eVOA Another exciting development from the ShareRing team is the collaboration between ShareRings Self Sovereign Identity protocol and third party providers to bring OneID and eVOA which will utilise OneID With the huge rise in E-commerce and with over 2.82 billion people who now own a smartphone we are entrusting our personal information to more and more centralised entities. These entities are frequently hacked and our information is leaked to outside parties. ShareRing aims to tackle this with their service OneID module. ShareRing’s OneID solution protects users' data by handling Know Your Customer (KYC) information through third parties and ShareRing’s Self Sovereign Identity Protocol. ShareRing does not hold any identifying information anywhere on its servers. It provides the ultimate security for the renter and also the provider, as the Protocol encrypts and stores your data in a secure manner within your device. Essentially, this means that it is near impossible for a hack or data leak to happen, simply because there is no centralized server of data for hackers to exploit. The OneID module is very easy to use. The end-user needs to complete their ID submission only once, with the entire submission process requiring less than two minutes to complete. Once this step has been completed, the customers KYC is destroyed by the 3rd party document verification system and the OneID module allows merchants to verify a customer’s identity via a hashed verification packet, stored on the users device and ShareLedger. This removes the need for merchants to store or see personal information; safeguarding both merchants and users from fraud. To create your ShareRing OneID, simply:
Take a picture of your government ID document
Take a selfie
Confirm and submit your details
This is something I am really excited about for ShareRing and they already have made partnerships for other companies to use this feature which is another income stream for ShareRing. eVOA E-Visa On Arrival allows applicants to apply online and receive a travel authorisation before departure – this eVOA can be shown at dedicated Thailand immigration counters on arrival at major Thailand airports, allowing travellers to pass through in minutes. OneID system is scheduled to become the lynchpin technology in Thailand’s electronic Visa On Arrival (eVOA) system; one of only two companies to partner with Thai authorities to provide this service. The new Visa system eliminates much of the hassle involved in entering the country: This is a strong validation of the OneID system - immigration controls are some of the most scrutinized processes in any branch of government, and if the OneID solution can operate to their standards then it is truly business-ready. As explained by our COO, Rohan Le Page: “We are providing our OneID product for Thailand e-VOA (Visa On Arrival) that allows 5 Million travellers from 20 countries including China and India to complete the visa process on their mobile through our app. This provides a streamlined immigration process that negates the need for an expensive and time-consuming process when you get off the plane. Additionally, fraud is mitigated with several extra layers of security in the back end including our blockchain (ShareLedger) consensus model that makes all data immutable and all but impossible to hack.” Profit Margins on OneID So how does ShareRing make money from OneID and eVOA? With each application for an eVOA using the OneID module ShareRing will make an undisclosed commission. The e-VOA is available to citizens of 21 different countries and is intended for those who will be holidaying in Thailand and not working in the country. This means that each eVOA will last for a period of around 15 days which effectively means that ShareRing will get commission multiple times from each person travelling to one of the 21 countries listed below: Andorra, Bhutan, Bulgaria, China, Ethiopia, Fiji, India, Kazakhstan, Latvia, Lithuania, Maldives, Malta, Mauritius, Papua New Guinea, Republic of Cyprus Romania, San Marino, Saudi Arabia, Taiwan, Ukraine, Uzbekistan The profits on this alone, according to projections, are worth millions of dollars per year to ShareRing, with a healthy growth of about 35% in raw profit over the next 5 years, ultimately netting the company about $1.5 million profit per quarter. The ShareLedger Blockchain Platform ShareRing will utilize the registered intellectual property from the existing KeazACCESS framework (KEAZ: A car sharing company founded by Tim Bos) as well as improving it the blockchain experience in their team. It will consist of fo the primary elements: SharePay (SHRP) – SharePay is the base currency that will allow users of the ShareRing platform to pay for the use of third party assets. ShareToken (SHR) ShareToken (SHR) is the digital utility token that drives sharing transactions to be written to the ShareRing ledger that is managed by the ShareRing platform. Account – This will be a standard account, which such an account being represented by a 24-byte address. The account will contain 4 general fields: SHRP – SharePay token balance SHR – ShareToken balance ASSETS – linked/owned by the account (see below for definition of an Asset) ATTRIBUTES – Any additional attributes that are associated with this account. These attributes may be updated or added by Sharing Economy providers that utilise the ledger such as ID checks by rental companies. These attributes may be ‘global’ (i.e. used by any sharing providers) or ‘local’ (i.e. used by a specific sharing provider). Assets – An asset represents a tangible real-world or digital asset that is being shared, such as a car, a house, industrial machinery, an e-book, and so on. Smart Contracts – Similar to a number of other blockchain platforms, such as Ethereum and NEO, the ShareLedger blockchain will feature highly customisable smart contracts. These Smart Contracts will allow for decentralised autonomous applications that can be attached to an asset and/or account. Every smart contract will be Turing complete, meaning it will have the ability to implement sophisticated logic to manage the sharing of the assets. The smart contracts will be tested and reviewed by ShareRing in a sandbox as well as audited by reputable third-party code auditors prior to implementation. Proof of Stake Consensus ShareRing have chosen the Leased Proof-of-Stake protocol as the consensus algorithm for ShareLedger. This choice is based on the practicality and security benefits evident in the Waves platform. It is also much more cost effective than Proof-of-Work (POW), and will not suffer from the current issues Bitcoin and other POW cryptocurrencies are facing such as scalability and electricity consumption. The ShareRing App At the heart of the ShareRing project lies the ShareRing app: A universal ‘ShareRing’ app is being developed that will allow anyone to easily see and use any sharing services around them. Each partner will have the option of developing a ‘mini’ app within the ShareRing app that will have functionalities specific to that partner. The app will use geolocation-based services to display the ShareRing services that are nearby Social Media Presence Coming from a social media background I feel this is an extremely important area to look into, especially in the crypto world. ShareRing has done an okay job in growing their social media presence however I feel it could be much better. Here is a look at some of the key stats for their online social media presence: Youtube: 191 Subscribers Instagram: 238 Followers Linkedin: 376 Followers Telegram: 6,525 members (very active) Twitter: 2,216 Followers (Fairly regular updates) Facebook: 1,965 Followers Whilst social media may not be a priority just now I feel there has to be a big presence with image-based platforms and video-based platforms. Youtube and Instagram should be made a priority here as it spans all generations: Other News on ShareRing There is a lot of stuff going on at the moment with ShareRing which is what makes it an exciting prospect. Rather than give information on each of them here are some highlights provided by the ShareRing team.: - ShareRing's revolutionary ID management based module OneID. - Worlds first Blockchain based eVOA in place with major Thai company targeting 5 to 10 million travellers from 20 countries. - 2.6 million International Hotels/ Accommodation coming on to the Platform. Lots more to come! - Partnership with HomeAway - 200,000 Activites, Tours and Events added to the ShareRing App - Multi Global Car Sharing Partnerships - 1 Partner Directly Integrating SHR's OneID consisting of 1.2 million Vehicles across 150 Countries - Luxury Car Brand Sharing Platform purely based on SHR - SHR payment system SHRP available in 10% Taxi Terminals in Australia - SHRP available in 10,000 EFTPOS Terminals Australia wide - White Labelling Services incorporating ShareRings revolutionary OneID - 20 Significant Unannounced Partnerships, more to come! - Major Partners include - - BYD (Largest Electric Car Maker in the World) - DJI (Largest Drone Maker in the World) - Keaz (300 locations around the world) - Yogoo EV Car Sharing - MOBI Alliance Member Overview of Positives and Negatives Negatives Social Media and marketing possibly needs to be ramped up in order to bring more awareness to the project. The roadmap and white paper has not been updated recently for 2019/2020 but this I believe is coming soon. Positives With a low market cap project like ShareRing the risk to reward ratio is very good for retail and institutional investors. Technical analysis of current prices, currently at 31 Satoshi, is also very good with resistance levels at 50, 77 and 114 Satoshi which would be nearing its all time high. Referral program will increase the numbers of users that are currently using the site. If ShareRing can capture even a small % of the overall sharing market then success looks assured. There are 20 new announcements coming up and with Tim Bos looking for more partnerships it seems likely that ShareRing will break ATH prices soon. Great long term hold, in my opinion. Realistic Expectations of ROI Short term (4 weeks - 12 weeks) Short term looks great for ShareRing both from a TA point of view and a fundamental point of view. With lots of news still to come out about ShareRing there is not going to be a shortage of fundamentals to drive the price up. From a TA point of view the next line of resistance stands at around the 50 Satoshi level which would complete a massive cup and handle formation from August 24th of this year. After that we are looking at resistances of 77 and 114 to reach near the all time highs which i expect ShareRing to reach going into 2020. Long term (6 Months - 2 Years) If ShareRing can onboard users and keep on making partnerships at the same rate there will be no stopping it. It’s all about onboarding the users and utilising the most powerful marketing tool ever - word of mouth! When a great app is realised with great and useful functionality then it tends to go viral and I am hoping this happens for ShareRing. With a market cap at the moment of just under $6 Million then I don’t think it’s crazy to talk about 1000% increases in the next 2 years and I really believe that is being extremely conservative, given where we think crypto is heading as a whole.
Tata Steel continues its winning spree with gains over a percent today
Shares of Tata Steel climbed over a percent on BSE in early trade on December 26 and looked on course to extend their winning run into the seventh session in a row. The scrip has been on a gaining spree after reports emerged that the company may announce restructuring of the domestic business to unlock value. https://preview.redd.it/f8jqtyt89x641.jpg?width=770&format=pjpg&auto=webp&s=16d735e7be80fe987fd21dd93d0aeeeacab36786 CNBC-TV18 reported on December 18, citing sources, that Tata Steel may form 4 verticals which are long products, mining, Tata Steel and Tata Steel Utilities & Services. The Tata Group company may look at restructuring listed companies Tata Metaliks and Tata Sponge which both may be named Tata Steel Long Products, sources said, adding the company may look at restructuring Tinplate in future. On December 17, Citi had upgraded Tata Steel to ‘buy’ from ‘sell’, as the global financial firm expects global steel prices to rise. “We are expecting global steel prices to rise on the greater likelihood of China easing and potential demand upside in the rest of the world and India. Further volatility in margins should ease as China’s supply additions would end in 2020, and we don’t expect a sharp deceleration in China demand at least until the mid-decade,” Citi said. As of December 24 close, shares of Tata Steel have dropped over 11 percent on BSE in Calendar 2019. The scrip was 1.46 percent up at Rs 469.65 on BSE around 10:10 hours IST. Fill Our Free Trial Form – Watch our Stock Market Target Calls Quality, Track sheet – Click Here or Subscribe us for Trading Trials >>>>Stock Cash Tips
With strong order flow, Tech Mahindra should sharpen its focus on execution
Shares of Tech Mahindra Ltd saw a remarkable recovery in the last four months, in part fuelled by a sequential rebound in revenue growth in the September quarter. https://preview.redd.it/05p2pjkf1c541.jpg?width=770&format=pjpg&auto=webp&s=f4c7927a5b2aac7474fc6d066ac018e7fde0efee At an analysts meeting on Monday, the company sounded confident about growth prospects. But currency volatility and transition costs related to recent large deals indicate that the management is less certain about profitability in the second half of the fiscal year. Indeed, analysts have flagged concerns over the above-mentioned factors. “In FY20, margins are likely to be affected by transitional cost from the large telecom deal and sector specific challenges such as auto in manufacturing,” Nomura Research said in a note. Tech Mahindra’s Ebit (earnings before interest and tax) margin dropped to 12.1% in the fiscal first half from 15% in FY19. This suppressed the company’s earnings growth during the first half. The management expects profit margins to recover to previous year’s (FY19) level in FY21 on better operating efficiencies and revenue flow from execution of large deal wins. https://preview.redd.it/u33fupqh1c541.png?width=1090&format=png&auto=webp&s=7efd6bdd8eaa820af5db05b530603136f5623fd6 To be sure, profit margins did improve slightly in the September quarter to 12.8% from 11.5% in the three months ended June. According to SBICAP Securities Ltd, Tech Mahindra’s management expects FY20’s margins at around 13%, implying an improvement in the fiscal second half. Even so, caution persists and not everyone shares the enthusiasm on margin trajectory. Profitability improvement is contingent on consistent execution, warn analysts at Elara Securities (India) Pvt. Ltd. “Continued delivery excellence, the absence of transition cost, and portfolio synergy could be key tailwinds for YoY improvement in margin in FY21. However, we trim our assumptions and model in 14.1% Ebit margin for FY21E,” the brokerage firm said in a note. Motilal Oswal Financial Services Ltd kept their estimates unchanged for FY20 and FY21. The concerns are not unfounded. Employee attrition remains elevated. This may warrant an increase in expenditure on human resources. The deal pipeline continues to remain strong. Pipeline in the enterprise vertical is 20% more than the year-ago level. Moreover, the large deal pipeline in this business segment has doubled compared with the beginning of FY20. The strong deal pipeline assures revenue visibility for Tech Mahindra. But there is no denying that high transition costs and patchy performance in the first half of FY20 are making analysts wary. “Valuations are not demanding, but acceleration in revenue growth trajectory with margin improvement and consistency in performance would be key to drive further rerating, in our view,” analysts at SBICAP Securities wrote in a note. Fill Our Free Trial Form – Watch our Stock Market Target Calls Quality, Track sheet – Click Here or Subscribe us for Trading Trials >>>>Stock Cash Tips
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